Although the creation of an affordable-housing fund for Fannie Mae and Freddie Mac has stirred up controversy about how best to overhaul oversight of the GSEs, some observers have said a similar program has worked wonders for the Federal Home Loan Bank System. “The Affordable Housing Program is very well run and a very good program. It’s provided a number of benefits to the communities that the members of the FHLBanks serve,” said Charlotte Bahin,…