Tapping conventional markets: FHLB's Affordable Housing Program
Article Abstract:
Public housing agencies and community organizations can avail of subsidized loans and direct subsidies for the construction of low-income housing under the Federal Home Loan Bank (FHLB) System's Affordable Housing Program (AHP). FHLB AHP subsidies have reached $140.5 million since 1990, paving the way for the building of some 789 low-cost housing initiatives. Homeownership programs can qualify for AHP funding provided that the incomes of the households they serve are not more than 80% of the median income for their area. Rental housing programs are eligible for financing if households with incomes that are not more than 50% of the area median income occupy no less than 20% of their housing units. Englewood West, Greenville Home Loan Program, Frontier Housing Inc and the Comprehensive Housing Mortagage Program have all effectively made use of the AHP for various purposes.
Publication Name: Journal of Housing
Subject: Social sciences
ISSN: 0272-7374
Year: 1992
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Low income loans: opportunities for lenders
Article Abstract:
Banks stand to reap considerable benefits from granting loans for low-incomehousing. Low income housing loans not only represent real investment opportunities, they also offer these financial institutions with opportunities to comply with the requirements of the Community Reinvestment Act. There are two approaches to community investment that banks may choose from. One approach is investing through intermediaries which can help banks by lessening the risk of a deal and by providing additional expertise. The other approach is direct community investment, in which case, banks can act as construction lenders. Vital to successful community investment is the careful analysis of risks. For loans that entail too many risks, banks can look to government insurance for some protection.
Publication Name: Journal of Housing
Subject: Social sciences
ISSN: 0272-7374
Year: 1992
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Two candidates speak: Congressman Jack F. Kemp
Article Abstract:
New York Republican Congressman Jack F. Kemp expresses his views on House Resolution Four, which would privatize public housing. Kemp perceives the resolution as weak, and as failing to offer necessary property rights, economic incentives, and personal freedom to stimulate successful home ownership. Kemp's own Urban Homesteading Amendment would eliminate these failings, assuring that privatized housing is replaced with new public housing, that houses offered for sale at a discount would be covered with low interest loans, and that ownership would not be obligatory. This would generate $14 billion in revenue that would be transferred to public housing authorities.
Publication Name: Journal of Housing
Subject: Social sciences
ISSN: 0272-7374
Year: 1987
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