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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.
Foundation: Grand Haven Area Community Foundation
Brooke Oosterman, executive director of Housing Next, is wrapping up three years at the organization this week.She accepted the position of vice president of youth development for the YMCA of Greater...more
Bhavani Daryanani has more than 20 years of experience in the sector.She will oversee NFF's financial policies, planning, accounting, and reporting.She held senior positions at Deutsche Bank and...more
Foundation: Greater New Orleans Foundation
Greater New Orleans Foundation continues its century-long mission of strengthening the region.Past initiatives include the Community Revitalization Fund, which supported the construction of nearly...more
Gandara recently launched its new Young Adult Supportive Living Program to help young people between the ages of 18 and 22 transition out of the Department of Children and Families youth programs.The...more
The Pulte Family Charitable Foundation announced a commitment of over $111 million towards their "Legacy of Hope" Projects.The IDDeal Place is the first independent living community for adults with...more
Foundation: Greater Washington Community Foundation
Bowser's approach to crime aligns with some of Trump's rhetoric of law and order on his campaign trails.About 9,774 individuals are experiencing homelessness in the District, according to a Point in...more
SECU Foundation has been named a recipient of the 2024 Carolinas Credit Union Foundation Hero Award for Partner in Philanthropy.The SECU Foundation promotes local community development in North...more
Foundation: California Community Foundation
The Black LA Relief & Recovery Fund aims to support both the immediate and long-term needs of Black communities impacted by the fires.The fund has raised $4.4 million to date and will be used to...more
At the heart of Citadel's renewed mission is the Citadel Cares program, structured around four core pillars Financial Literacy, Education, Community & Economic Development, and Health &...more
Foundation: Wayne County Community Foundation
GrantTalk Ep 39: Community Foundation Grants with Ryanne Jennings.Ryanne's passion for her community and the foundation's mission shines through as she shares how WCCF pools resources into a variety...more
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Wells Fargo Foundation
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Community Foundation of Southeast Kansas
Dallas Foundation
Oak Park-River Forest Community Foundation
Greater Washington Community Foundation
Rhode Island Foundation
Community Foundation for Greater Atlanta
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Arizona Community Foundation
Social Entrepreneurship
Spotlight
Social Enterprise Cook School Launches Crowdfunding Campaign
The Larder Cook School in West Lothian is a social enterprise that trains young people for a career in the food business. Recently, the school has launched a crowdfunder to help it teach another 80 students a year.
