The Federal Housing Finance Agency (FHFA) has proposed amendments to the Federal Home Loan Bank Affordable Housing Program regulations. Register for FHFA’s informational webinar on Tuesday, March 27, 2018 at 2 p.m. EDT. FHFA will explain the proposed rule and answer questions. Comments regarding the proposed amendments are due by May 14, 2018.
The proposed amendment includes:
- Authorization for each FHLB to redesign their project selection systems and create special targeted funds, which would allow the FHLBs more flexibility to align their AHP funds with the distinct affordable housing needs in their districts.
- Alignment of the AHP project monitoring requirements with those of other government funding programs by removing certain back-up documentation requirements for AHP monitoring of projects that have received LIHTC and/or federal funds.