The Federal Housing Finance Agency (FHFA) today released its annual report on the low-income housing and community development activities of the Federal Home Loan Banks (FHLBanks).
Among the highlights covered in the 2021 report are the FHLBanks’ activities and performance through the Affordable Housing Program (AHP), the Community Investment Program (CIP), and the Community Investment Cash Advance Program (CICA).
FHFA Director Thompson said this about the FHLBanks activities: “The Federal Home Loan Banks provided more than $2.7 billion in 2021 for targeted economic development and housing advances. As FHFA begins its comprehensive review of the Federal Home Loan Bank System, we recognize its long-term importance in providing liquidity in the housing finance market and funding for community investment projects.”
FHLBank Council President and CEO Ryan Donovan added: “The 11 regional FHLBanks remain among the top private funders of affordable housing and community development in the nation. We are proud of our contributions to create affordable housing opportunities and the positive outcomes we have helped families achieve.”
“We appreciate Director Thompson acknowledging the long-term importance of FHLBanks to ensuring liquidity for housing finance and investment in community development projects in all economic conditions.
“As the FHFA begins its review of the FHLBank system, it is critical that any changes strengthen the positive impact the regional home loan banks and their members have on housing affordability in their communities.”
