FHFA Issues Proposed Rule on Federal Home Loan Bank Housing Goals
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Washington, D.C. – The Federal Housing Finance Agency (FHFA) is seeking comments on proposed amendments to the existing regulation for the Federal Home Loan Bank (FHLBank) Housing Goals.
The proposed rule would:
- Set a single prospective mortgage purchase housing goal as a share of each FHLBank’s total Acquired Member Asset (AMA) purchases;
- Set a new small member participation housing goal for participation by small institutions;
- Eliminate the volume threshold and instead allow FHLBanks to propose different goals levels for mortgage purchases and small member participation, subject to FHFA approval; and
- Simplify and expand the eligibility criteria to enable federally backed loans to count for goals purposes.