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FHFA Releases Annual Report on Low-Income Housing and Community Development Activities of the Federal Home Loan Banks


​​​Washington, D.C. – Today, the Federal Housing Finance Agency (FHFA) released its annual report on the low-income housing and community development activities of the Federal Home Loan Banks (FHLBanks).

The report highlights the FHLBanks’ activities and performance in 2021 through the Affordable Housing Program (AHP), the Community Investment Program (CIP), and the Community Investment Cash Advance Program (CICA). The report also covers Community Development Financial Institution (CDFI) membership in the FHLBank System, the FHLBanks’ affordable housing goals, and their purchases of Acquired Member Assets (AMA). 

The FHLBanks provide loans (referred to as advances) or grants to their members or housing associates under these programs. These funds are then used to assist very low-, low-, and moderate-income households and communities.

“The Federal Home Loan Banks provided more than $2.7 billion in 2021 for targeted economic development and housing advances,” said Director Sandra L. Thompson. “As FHFA begins its comprehensive review of the Federal Home Loan Bank System, we recognize its long-term importance in providing liquidity in the housing finance market and funding for community investment projects.”

Key takeaways of the report include:

  • The FHLBanks awarded approximately $352.4 million in total contributions to the AHP in 2021, which assisted more than 32,000 low- and moderate-income households, more than 17,000 of which were very low-income households.
  • The FHLBanks funded approximately $1.7 billion in targeted housing and economic development advances through the CIP in 2021. These CIP housing advances assisted approximately 8,000 households in 2021.
  • In 2021, targeted economic development advances from the CICA Program were approximately $1 billion.
  • Ten FHLBanks purchased AMA mortgages in 2021, and each met the mortgage purchase and community-based AMA user goals.

​The FHLBanks also support the financing of low-income housing and community development through other activities, including advances to their non-depository CDFI members. CDFIs assist underserved communities by promoting economic investment and affordable housing opportunities, and providing community development financial services and other banking services. At the end of 2021, 68 FHLBank members were non-depository CDFIs.​



The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $7.9 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on Twitter, @FHFA, YouTube, Facebook, and LinkedIn.
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