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Support for Affordable Housing Programs
The Federal Housing Finance Agency (FHFA) was established by the Housing and Economic Recovery Act of 2008 (HERA) and is responsible for the supervision, regulation, and housing mission oversight of the 11 Federal Home Loan Banks (FHLBanks, FHL Bank System), the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac). FHFA's mission is to ensure that these regulated entities operate in a safe and sound manner so that they serve as a reliable source of liquidity and funding for housing finance. Since 2008, FHFA has also served as conservator of Fannie Mae and Freddie Mac.
The FHLBanks awarded approximately $322 million in total AHP funds in 2015, helping over 36,000 low - or moderate - income households including about 20,000 very low-income households. Through the CIP, the FHLBanks also funded approximately $3.2 billion in targeted housing and economic development advances in 2015, an increase of over 33 percent from 2014. The program assisted almost 39,000 housing units. The FHLBank's CICA funding, which supports targeted economic development, was about $4 billion in 2015, approximately 48 percent higher than in 2014.
At the end of 2015, 41 non-depository CDFIs were FHLBank members, and they had outstanding advances of approximately $114.5 million. Additionally, each FHLBank is subject to housing goals if its Acquired Member Assets (AMA) purchases exceed an annual volume threshold of $2.5 billion. While one FHLB ank exceeded this level in 2015 and FHFA is evaluating whether that FHLBank met the housing goals for 2015, regardless of that FHLBank's performance against the goals, FHFA will not require it to take any remedial steps because FHFA is in the process of reviewing and possibly updating the regulation.
Source: Federal Housing Finance Agency
Foundation and philanthropic support for affordable housing and community investment from around the Web.
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Harkins Theatres donates $57,674 to California wildfire relief efforts.Belgravia Group closes on land for Atavia in north Scottsdale.Derma Health Skin & Laser celebrates 20 years with wellness...more
Foundation: Gulf Coast Community Foundation
This Monday, February 17, we celebrate Random Acts of Kindness Day, a reminder to perform small yet impactful gestures for others.Project HEAL is providing four homeless-service organizations ...more
A $167,000 grant for the Selinsgrove Regional Engagement was recently part of 46 grants totaling $11.6 million from a Pennsylvania Commission on Crime and Delinquency program.The goal of the funding...more
Dodge County Housing Authority Completes New Affordable Housing Units with State Grant.Dodge County ARPA grant, and Focus on Energy Solar program made project possible.Project was made possible...more
Napa seeks $10 million to turn downtown apartments into long-term housing for homeless.If awarded the Homekey+ grant, the city could cover most of the estimated $3.6 million to $4 million cost per...more
Foundation: Whitefish Community Foundation
This year is the 25th anniversary of the Whitefish Community Foundation.The foundation has granted over $100 million to nonprofit organizations since its founding in 2000.Three Flathead nonprofits...more
Foundation: Community Foundation of Southern Indiana
The southern Indiana housing crisis is a pressing issue that has been drawing attention from local leaders and community organizations.As companies like Amazon and Meta bring new workers to the...more
The Children's Home Society of Florida has received a $100,000 donation from the City of Pensacola.The funding will allow CHS to expand its services and create long-term solutions for young people...more
Hochul announces state grant for Cornhill mixed-use affordable housing.Grocery store, gym, urgent care: State grant funds extras in Cornhill housing project.People First, Utica's municipal housing...more
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