The Future of AHP is Now
For over 25 years, the Affordable Housing Program (AHP) has successfully helped Federal Home Loan Bank (FHLBank) members and their partners develop housing in the communities they serve. On November 28, 2018, the Federal Housing Finance Agency (FHFA) published its amended regulation (Final AHP Rule) that recognizes the deep knowledge and expertise each FHLBank deploys in identifying and responding to the unique needs of its District. It gives the FHLBanks greater flexibility to align with those needs, best practices in the industry, and to administer the program more efficiently.
Read the Final AHP Rule, effective December 28, 2018, in its entirety or the FHFA webinar briefing.
What's Next
This regulation provides a good measure of flexibility and local control to the FHLBanks to meet the demands for affordable housing. The FHLBank Chicago is evaluating the rule and, where flexibility lies, will consult with our members and stakeholders to ensure the priorities in our AHP are aligned with the needs and opportunities throughout our District.
We are preparing for the phased implementation of the new and amended requirements to ensure a smooth transition and prepare our members and sponsors for the policy, process, and documentation changes to the AHP.
For significant changes and implementation deadlines, please see below. If you would like more details, check out our Final AHP Rule presentation.
These reflect only select changes to the AHP regulations, effective December 28, 2018, and is not a complete analysis of the Final AHP Rule.
Questions? Contact Community Investment at 312-565-5824 or ci@fhlbc.com.