This annual report describes FHFA's accomplishments, as well as challenges, the agency faced in meeting the strategic goals and objectives during the past fiscal year.
Read about the agency’s 2018 examinations of Fannie Mac, Freddie Mac and the Home Loan Bank System.
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Goal: Help restore confidence, enhance capacity to fulfill mission, and mitigate systemic risk that contributed directly to instability in financial markets.
MAINTAIN foreclosure prevention activities and credit availability, REDUCE taxpayer risk, and BUILD a new single-family securitization infrastructure. Read more in the 2018 Scorecard and Conservatorships Strategic Plan.
Plans and Reports
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Glossary - Spanish / English
Language Translation Disclosure
By law, each FHLBank must establish an Affordable Housing Program (AHP), and must contribute 10 percent of its earnings to its AHP.Under the Federal Home Loan Bank Act (FHLBank Act), the specified uses of AHP funds are to finance the purchase, construction, or rehabilitation of owner-occupied housing for low- or moderate-income households (with incomes at 80 percent or less of the area median income), and the purchase, construction, or rehabilitation of rental housing where at least 20 percent of the units are affordable for and occupied by very low-income households (with incomes at 50 percent or less of the area median income). The AHP leverages other types of financing, and supports affordable housing for special needs and homeless families, among other groups.
The FHLBanks are authorized to operate two programs:
FHFA has issued the
final rule amending the AHP regulation. To learn more, explore our
Click to Enlarge (open PDF)
The FHLBank Act also requires each FHLBank to offer Community Investment Program advances (i.e., loans) to their member financial institutions. The FHLBanks' CIP advances finance housing for households with incomes up to 115 percent of the area median income or commercial and economic development activities that benefit low- and moderate-income families (defined as 80 percent or less of area median income) or activities located in low- and moderate-income neighborhoods (where 51 percent or more of the households are low- or moderate-income).
The FHLBanks offer advances for targeted economic development under the Community Investment Cash Advance (CICA) program, which is authorized by FHFA regulation. CICA programs offer funding for FHLBank members to provide financing for projects that are targeted to certain economic development activities. CICA lending is targeted to specific beneficiaries, including small businesses and certain geographic areas. CICA funding in urban areas is for targeted beneficiaries with incomes at or below 100 percent of the area median income and CICA funding in rural areas is for targeted beneficiaries with incomes at or below 115 percent of the area median income.
Have questions about the AHP, CIP, or CICA?
Affordable Housing and Community Investment page
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