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Support for Affordable Housing Programs
The Federal Housing Finance Agency (FHFA) was established by the Housing and Economic Recovery Act of 2008 (HERA) and is responsible for the supervision, regulation, and housing mission oversight of the 11 Federal Home Loan Banks (FHLBanks, FHL Bank System), the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac). FHFA's mission is to ensure that these regulated entities operate in a safe and sound manner so that they serve as a reliable source of liquidity and funding for housing finance. Since 2008, FHFA has also served as conservator of Fannie Mae and Freddie Mac.
The FHLBanks awarded approximately $322 million in total AHP funds in 2015, helping over 36,000 low - or moderate - income households including about 20,000 very low-income households. Through the CIP, the FHLBanks also funded approximately $3.2 billion in targeted housing and economic development advances in 2015, an increase of over 33 percent from 2014. The program assisted almost 39,000 housing units. The FHLBank's CICA funding, which supports targeted economic development, was about $4 billion in 2015, approximately 48 percent higher than in 2014.
At the end of 2015, 41 non-depository CDFIs were FHLBank members, and they had outstanding advances of approximately $114.5 million. Additionally, each FHLBank is subject to housing goals if its Acquired Member Assets (AMA) purchases exceed an annual volume threshold of $2.5 billion. While one FHLB ank exceeded this level in 2015 and FHFA is evaluating whether that FHLBank met the housing goals for 2015, regardless of that FHLBank's performance against the goals, FHFA will not require it to take any remedial steps because FHFA is in the process of reviewing and possibly updating the regulation.
Source: Federal Housing Finance Agency
Foundation and philanthropic support for affordable housing and community investment from around the Web.
Foundation: Wayne County Community Foundation
GrantTalk Ep 39: Community Foundation Grants with Ryanne Jennings.Ryanne's passion for her community and the foundation's mission shines through as she shares how WCCF pools resources into a variety...more
Affordable Housing Developers Use CalAIM to Help the Unhoused.California Health Care Foundation is facilitating a working group of affordable housing developers.The working group intends to achieve...more
Wells Fargo is donating $5 million to HomeFree-USA to help families buy their first home.In collaboration with the City of Philadelphia, Affordable Housing Center of Pennsylvania (AHCOPA), and RiseUp...more
The NYCHA Resident Climate Action Grant Program provides up to $5,000 for residents to implement sustainability projects in their communities.The program invites NYCHA residents to apply for funding...more
Existing law requires the Department of Housing and Community Development to develop a recommended improved regional housing need allocation process and methodology.This bill would make...more
Net-zero homes are touted as a solution for climate change, but they remain out of reach for most.The Passive House standard is a German housing policy that sets a global benchmark for ultra-low...more
Harkins Theatres donates $57,674 to California wildfire relief efforts.Belgravia Group closes on land for Atavia in north Scottsdale.Derma Health Skin & Laser celebrates 20 years with wellness...more
Foundation: Gulf Coast Community Foundation
This Monday, February 17, we celebrate Random Acts of Kindness Day, a reminder to perform small yet impactful gestures for others.Project HEAL is providing four homeless-service organizations ...more
Long Beach's tiny home project is dead and the city now must return a nearly $5.6 million grant.The city spent $2,936,482 on the units, city employee wages and consultants for environmental review,...more
A $167,000 grant for the Selinsgrove Regional Engagement was recently part of 46 grants totaling $11.6 million from a Pennsylvania Commission on Crime and Delinquency program.The goal of the funding...more
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Wells Fargo Foundation
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Greater Washington Community Foundation
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Community Foundation for Greater Atlanta
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Arizona Community Foundation
Social Entrepreneurship
Spotlight
Tom’s Partner with Make It Right to Build Sustainable Homes for People in Need
Tom’s, the social enterprise popular for its shoes, has released a pair of shoes and a pair of shades to benefit Make It Right, a nonprofit founded by Brad Pitt in 2007 that builds affordable, green homes, buildings and communities for underserved and low-income populations.
