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FHFA

RIN: 2590-AA04

Publication ID: Fall 2008

Title: ●Affordable Housing Program for Federal Home Loan Banks
Abstract: The Housing and Economic Recovery Act of 2008 amended section 10 of the Federal Home Loan Bank Act, relating to the Affordable Housing Program (AHP) administered by each of the Federal Home Loan Banks. The amendment authorizes, for a 2-year period, the use of AHP subsidy through the homeownership set-aside program to refinance certain qualifying mortgage loans. Such loans must be secured by a first mortgage on a primary residence of any family having an income at or below 80 percent of the median income for the area. The rulemaking would implement those statutory changes and make any appropriate conforming amendments to the existing Finance Board AHP regulations.
Agency: Federal Housing Finance Agency(FHFA)	Priority: Info./Admin./Other
RIN Status: First time published in the Unified Agenda	Agenda Stage of Rulemaking: Final Rule Stage
Major: No	Unfunded Mandates: No
CFR Citation: 12 CFR 1291
Legal Authority: 12 USC 1430(j)(2)

Legal Deadline: None

Timetable:

Action	Date	FR Cite
Interim Final Rule	10/17/2008	73 FR 61660
Interim Final Rule Effective	10/17/2008
Interim Final Rule Comment Period End	12/16/2008

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Small Entities Affected: No	Federalism: No
Included in the Regulatory Plan: No
RIN Information URL: www.regulations.gov	Public Comment URL: www.regulations.gov or by email: regcomments@fhfa.gov
RIN Data Printed in the FR: No
Agency Contact: Neil Crowley Deputy General Counsel Federal Housing Finance Agency 400 Seventh Street SW, Washington, DC 20219 Phone:202 649-3055 TDD Phone:800 877-8339 Email: neil.crowley@fhfa.gov