FDIC guide shows community bankers home lending programs

by Talk Business & Politics staff (staff2@talkbusiness.net) 39 views 

The Federal Deposit Insurance Corp. has released a guide to help community bankers understand the programs and products that the Federal Home Loan Banks offer for mortgages.

The Affordable Mortgage Lending Guide, Part III: Federal Home Loan Banks shows FHLB products and services, including the Affordable Housing Program and Community Investment Program, advances, Mortgage Purchase Program and Mortgages Partnership Finance program.

It also includes information on single-family home purchases, “such as down payment and closing cost assistance, many of which can be used in conjunction with programs offered by other federal and state housing finance agencies and government-sponsored enterprises,” according to a news release. “The guide also describes alternatives for selling mortgages on the secondary market.”

The FDIC released two previous Affordable Mortgage Lending Guides in September 2016 and November 2016. “The FDIC developed these resources in response to requests from community bankers for information on affordable mortgage lending credit that is centralized and easy to understand,” the release shows. “Bankers can use these publications to gain an overview of a variety of programs and resources, compare different products, understand Community Reinvestment Act implications and identify the next steps for initiating or expanding program participation.”

The three guides are available online at the Affordable Mortgage Lending Center.