WASHINGTON — In a program patterned after a Federal Home Loan Bank of San Francisco pilot earlier this year, the Federal Housing Finance Board proposed allowing the Federal Home Loan Banks to expand their Affordable Housing Program homeownership set-aside programs.

The expansion would cover the refinancing or restructuring of low- and moderate-income subprime or nontraditional loans held by bank members or their affiliates and would expire at the end of June 2011. Comments are now being accepted on the proposal, which would allow a bank to set aside the greater of $4.5 million or 35% of its AHP contribution for all homeownership set asides, including the refinancing or restructuring option.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.