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Summary:

The �౦��Ϸ���� has updated the Affordable Mortgage Lending Guide, Part II: State Housing Finance Agencies to reflect the most up-to-date information available about the mortgage programs offered through state housing finance agencies (HFAs).

Statement of Applicability to Institutions with Less Than $1 Billion in Assets: This Financial Institution Letter applies to all �౦��Ϸ����-insured institutions.

Highlights:

• The Affordable Mortgage Lending Guide, Part II: State Housing Finance Agencies is designed as a resource for community banks to gain an overview of a variety of products, compare different products, and identify next steps to expand or initiate a mortgage lending program.
• The publication describes state HFA products and programs that provide home purchase support, including down payment closing cost assistance, mortgage tax credit certificates, and homeownership education and counseling.
• Changes to the publication include:
  • Updates to the State Housing Finance Agency Product Matrix (page 4);
  • Addition of the Massachusetts Housing Partnership to the list of HFAs;
  • Alternative private mortgage insurance options are now included on individual state sheets (see page 30 for general information about these options); and
  • Updates to 40 of the 54 HFAs discussed in Part II (see Appendix A: State Summaries of HFA Products and Resources for a list of states with updates).
• These changes also have been made to the information available online at the �౦��Ϸ����'s Affordable Mortgage Lending Center .
• The Affordable Mortgage Lending Guide also includes Part I: Federal Agencies and Government Sponsored Enterprises and Part III: Federal Home Loan Banks .
• To receive notices of updates to the Affordable Mortgage Lending Center, subscribe at

Distribution:

• �౦��Ϸ����-Insured Institutions (Commercial and Savings)

Suggested Routing:

• Chief Executive Officer
• Chief CRA Officer
• Chief Lending Officer

Email:

mortgagelending@fdic.gov 

Paper copies may be obtained through the �౦��Ϸ����'s Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (877-275-3342 or 703-562-2200).