Housing and Economic Recovery Act

FHFA Looks to Expand Access to FHA Loans 

New, interim changes to the the Federal Housing Finance Agency’s Affordable Housing Program will allow the use of AHP subsidies in conjunction with the Federal Housing Administration’s Hope for Homeowners Program; the FHFA announced the proposed rule Wednesday afternoon. Current AHP regulation requires each of the 12 Federal Home Loan Banks to contribute 10 percent of their previous year’s net earnings to assist member institutions engaged in lending for owner-occupied and rental housing to low- and moderate-income households.