FHFA Releases Report on Activities of Federal Home Loan Banks
The Federal Housing Financing Agency today released 2018 Low-Income Housing and Community Development Activities of the Federal Home Loan Banks. The report says that the 11 Federal Home Loan Banks provided more than $450 million in Affordable Housing Program (AHP) funds in 2018, an increase of about 15 percent over 2017. AHP-assisted rental housing requires that at least 20 percent of the property’s apartments must be affordable for and occupied by households with incomes at or below 50 percent of the area median income. The report said that 44 percent of AHP-assisted properties in 2018 also received funding from low-income housing tax credit equity.