- Created: Wednesday, 09 May 2018 13:56
- Written by Laura Proescholdt
The Federal Housing Finance Agency (FHFA) recently released a proposed rule in connection with the Affordable Housing Program (AHP) that has major implications for affordable housing developers. Below are talking points on the FHLB AHP shared by Jennifer Ernst, Sr VP/Director, Western Office and Community Investment Officer, FHLB-Des Moines. To learn more about the proposed rule, join MHP for a stakeholder call on Wednesday, May 23 at 9:00 AM. Ernst will walk listeners through proposed changes and answer questions. Make sure AHP, an important gap financing tool, remains a feasible financing source by providing comment to the FHFA by June 12.
Stakeholder call: Wednesday, May 23, 9:00 AM
To participate: 800-220-9875, ID 72658579
Although the Affordable Housing Program (“AHP”) Proposed Rule offers modest improvements for program flexibility, taken as a whole, it increases the program’s complexity and moves it in the direction of a national, bureaucratic and prescriptive program. Particularly troubling is the proposed outcome framework because it conflicts with the Federal Housing Finance Agency’s (“FHFA’s”) stated objective of providing more flexibility for the FHLBanks to respond to local and regional affordable housing needs.