The FHLBank is extending the terms and reducing the haircut on collateral pledged by non-depository CDFIs and state-chartered HFAs (which technically aren’t even members).
A new advisory bulletin streamlines the application process for an affordable housing subsidy and makes the rules more compatible with those of other affordable housing funders.
Affordable housing and community development advocates say taxpayers aren’t getting enough for the government subsidy of the FHLBanks. The FHLBanks say critics misunderstand their federal support.
The Council of Federal Home Loan Banks said Treasury’s proposal that the FHLBanks use their excess retained earnings to support affordable housing is asking them to operate on minimum capital levels.
AXIS Insurance became the second entity to settle in a Freddie lawsuit alleging that some D&O insurance providers refused to properly reimburse the GSE for legal expenses incurred during the 2008 crisis.
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