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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.
Orangewood Foundation will use the Neighborhood Builders grant to expand its services to an additional 250 youth annually.The additional support will free up attorneys and other professional staff to...more
Properties that can be rehabilitated through the program include residential buildings with one through five units, mixed-use buildings with up to five housing units or buildings that will be...more
The Festival Runway Fashion Show marked its 15th anniversary with a collaboration with Working Wardrobes.Former Laguna Beach Mayor Sue Kempf cut the red ribbon at the opening of the 2024 Festival of...more
Foundation: Community Foundation of Jackson Hole
The Community Foundation of Jackson Hole has provided grant funding that will serve as the needed spark for 26 local nonprofits.The foundation awarded its inaugural group of nonprofits, focusing its...more
Foundation: Outer Banks Community Foundation
Dare Community Housing Task Force releases 2024 report with research, findings, and recommendations.Dare County Tax Department has announced that the countywide 2025 Dare County property revaluation...more
Andersen Corporation Announces $50.8 million in Year-End Profit Sharing and 2024 Donations Totaling Over $5 million in Support of Local Communities.Andersen and its corporate foundation continued...more
Urban Peak expands services in Denver to youth experiencing homelessness with new Mothership.Now, Urban Peak can shelter 12-to-24-year-olds, which means fewer young people have to stay at adult...more
The Selah Day Resource Center is a non-profit organization serving the Chelsea community.Housing Families has also operated the overnight warming shelter in Revere at its senior center for the past...more
A $2 million endowment to Western Kentucky University will establish two housing scholarships.One with a preference for WKU's women athletes, and another for graduates from Bowling Green and Warren...more
Foundation: Community Foundation of Sarasota County, Gulf Coast Community Foundation
Sarasota County has experienced an influx of new residents that has resulted in a 6% increase in the population overall.Only two of the top 10 most common occupations pay enough to afford a...more
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