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FHFA | RIN: 2590-AB35 | Publication ID: Fall 2024 |
Title: Federal Home Loan Bank Affordable Housing Program Retention Agreement and Subsidy Requirements | |
Abstract:
The Federal Home Loan Bank Act requires that each Federal Home Loan Bank establish an Affordable Housing Program (AHP) to subsidize the purchase, rehabilitation and construction of affordable rental and owner-occupied housing. 12 U.S.C. 1430(j). FHFA plans to issue a proposed rule to amend several AHP program requirements, including a proposal to modify a calculation in the implementing AHP regulation that identifies the portion of the AHP subsidy that owners of owner-occupied units that were purchased with AHP subsidy must repay if they sell or refinance the unit during the five-year retention period. The proposed rule would also consider a change to the 5-year retention agreement requirement for owner-occupied units purchased with AHP subsidy on Tribal and sovereign land. In addition, the proposed rule would address applications for additional AHP subsidy for previously approved AHP projects.
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Agency: Federal Housing Finance Agency(FHFA) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: Undetermined | Unfunded Mandates: No |
CFR Citation: 12 CFR 1291 | |
Legal Authority: 12 U.S.C. 1430(j) 12 U.S.C. 4511(b)(2) |
Legal Deadline:
None |
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Timetable:
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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.fhfa.gov; www.regulations.gov | Public Comment URL: www.fhfa.gov; www.regulations.gov |
RIN Data Printed in the FR: No | |
Agency Contact: Tiffani Moore Office of Housing and Community Investment, Division of Housing, Mission, and Goals Federal Housing Finance Agency 400 Seventh Street SW, Washington, DC 20219 Phone:202 649-3304 Email: tiffani.moore@fhfa.gov Carey Whitehead Assistant General Counsel Federal Housing Finance Agency 400 Seventh Street SW, Washington, DC 20219 Phone:202 649-3630 Email: carey.whitehead@fhfa.gov |