After suddenly stepping down as CEO of the Federal Home Loan Bank of San Francisco, the former Ginnie president showed up in Washington to tout the benefits of the home loan bank system.
A number of large banks have significantly scaled back their use of FHLBank advances, which is having an impact on the system’s income. In addition to rising voluntary investment in housing, the FHLBanks have boosted their single-family mortgage portfolios. (Includes three data tables.)
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.