FHFA Requests Input on Federal Home Loan Bank Affordable Housing Program’s Application Process

The Federal Housing Finance Agency requests input on ways to improve the Federal Home Loan Banks’ processes for applying for Affordable Housing Program funding.

“FHFA’s efforts to streamline the AHP application process should improve the FHLBanks’ ability to provide much-needed funding for addressing the shortage of affordable housing,” said Director Sandra L. Thompson. “Today’s RFI seeks feedback from the public as FHFA develops proposals to make AHP funding more accessible to nonprofits, community organizations and tribal entities.”

FHFA said AHP plays a role in the FHLBanks’ support for their members’ efforts to address affordable housing needs in their communities by awarding approximately $8 billion in grants to assist the financing of over one million single-family and rental housing units.

During FHFA’s FHLBank System at 100: Focusing on the Future review, many stakeholders encouraged FHFA to improve the efficiency of the application process. FHFA now seeks input on potential opportunities to improve the application process for the AHP competitive application programs.

Each FHLBank develops user or reference guides and resources to assist FHLBank members and project sponsors apply for AHP competitive application funding. FHFA is providing these resources to assist stakeholders in providing feedback on the FHLBanks’ AHP competitive applications.

FHFA invites interested parties to provide written input, feedback and information on all aspects of this RFI no later than August 19, 2024. Public input may be submitted electronically using the response form at FHFA’s website or via mail to the Federal Housing Finance Agency, Division of Housing Mission & Goals, 400 7th Street SW, 9th Floor, Washington, D.C. 20219.