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FHFA

RIN: 2590-AA04

Publication ID: Spring 2009

Title: Affordable Housing Program, Amendments: FHLBank Mortgage Refinancing Authority
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 authorized, for a 2-year period, the use of AHP subsidy through the home ownership 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. FHFA issued an interim final rule that implemented those statutory changes and made any appropriate conforming amendments to the existing Finance Board AHP regulations.
Agency: Federal Housing Finance Agency(FHFA)	Priority: Other Significant
RIN Status: Previously 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	73 FR 61660
Interim Final Rule Comment Period End	12/16/2008	73 FR 61660
Second Interim Final Rule	04/00/2009

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; www.fhfa.gov	Public Comment URL: www.regulations.gov or by email: regcomments@fhfa.gov
RIN Data Printed in the FR: No
Agency Contact: Sharon Like Managing Associate General Counsel Federal Housing Finance Agency 400 Seventh Street SW, Washington, DC 20219 Phone:202 649-3057 Email: sharon.like@fhfa.gov