AHP’s Future

Don't miss this opportunity to share your expertise about how Affordable Housing Program (AHP) funds can be most impactful in your community!

On March 14, 2018, the Federal Housing Finance Agency (FHFA) released its Notice of Proposed Rulemaking to amend the Affordable Housing Program (AHP) regulation. The proposed amendments will affect how you use the Federal Home Loan Bank of Chicago’s (FHLBank Chicago) competitive AHP and homeownership products (Downpayment Plus® and Downpayment Plus Advantage®). 

Public comments are due to the FHFA by Tuesday, June 12, 2018.

For over 25 years, the Federal Home Loan Bank (FHLBank) AHP has successfully helped FHLBank members and their partners develop needed housing in the communities they serve. The amendments aim to position AHP for the future. They include potential improvements to AHP, but they also create some potential challenges.

We have prepared a summary of the proposed amendments and the potential impacts that we believe will most affect members' and housing providers' strategies for meeting community needs.

Read the proposed rule (and the notice of extension and correction) in its entirety or view a summary of the proposal. 

Make Your Voice Heard 

As an advocate for AHP, your opinion on the proposed amendments is very important. We ask for your support in three important ways:

  1. Learn how these proposed changes could affect your institution, organization, partner organizations, and communities. Review the information below detailing the impact of the outcomes framework and other challenges in the amendments, reference our webinar presentation, and read the comment letter submitted by the FHLBank System. 

  2. Make your voice heard. The comment period is scheduled to close on Tuesday, June 12, 2018. You can submit your comments here. To view the comment list, click here. You can use this template letter and add your own comments and recommendations to specifically address how the amendments would impact your organization and community. Comments can also be submitted by mail to Alfred M. Pollard, General Counsel, Attention: Comments/RIN 2590-AA83, Federal Housing Finance Agency, 400 Seventh Street, SW, Eighth Floor, Washington, DC 20219.

  3. Engage your network. Let others know about the impact of these proposed changes and how they can share their experiences and concerns with the FHFA.

Concerns and Recommendations

Impact of an Outcomes-Based Framework
Thresholds for Targeted Populations
Constraints of Targeted Community Lending Plan Requirements
Homeownership Retention Agreement Changes
Sponsor and Development Team Capacity Evaluation

Contact Community Investment at ci@fhlbc.com or 312.565.5824.