FIL-30-2017
July 26, 2017
FDIC Updates Affordable Mortgage Lending Guide Information on State Housing Finance Agencies
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Summary:
The FDIC has updated the Affordable Mortgage Lending Guide, Part II: State Housing Finance Agencies to reflect the most up-to-date information available about the mortgage programs offered through state housing finance agencies (HFAs).
Statement of Applicability to Institutions with Less Than $1 Billion in Assets: This Financial Institution Letter applies to all FDIC-insured institutions.
Highlights:
- The Affordable Mortgage Lending Guide, Part II: State Housing Finance Agencies is designed as a resource for community banks to gain an overview of a variety of products, compare different products, and identify next steps to expand or initiate a mortgage lending program.
- The publication describes state HFA products and programs that provide home purchase support, including down payment closing cost assistance, mortgage tax credit certificates, and homeownership education and counseling.
- Changes to the publication include:
- These changes also have been made to the information available online at the FDIC’s Affordable Mortgage Lending Center.
- The Affordable Mortgage Lending Guide also includes Part I: Federal Agencies and Government Sponsored Enterprises and Part III: Federal Home Loan Banks.
- To receive notices of updates to the Affordable Mortgage Lending Center, subscribe at https://service.govdelivery.com/accounts/USFDIC/subscriber/new