Community First June 2019 Newsletter

The June 2019 edition of the 

 is now available.   

The FHLBank Chicago’s 2019 

 opened on May 6 and closes on June 14. 

. 

The Community Investment staff joins the FHLBank Chicago Member Strategy and Solutions team on the June 27 Weekly Market Update webinar. This special webinar will focus on FHLBank Chicago’s community lending programs, including: the Community Development Advance, Community Housing Advance, and Community Small Business Advance. By attending this webinar, FHLBank Chicago members will learn how these products can support their affordable housing and economic development lending goals. 

. Be sure to select the June 27 date from the drop down menu when registering. 

 The FHLBank Chicago’s 2019 

 opened on January 14. So far this year participating members have reserved $10.5 million on behalf of more than 2,000 homebuyers. The annual member limit remains at $420,000, available on a first-come, first-served basis as long as funds are available. Please contact us at 312-565-5824 or 

 with any questions. 

The FHLBank Chicago’s annual joint meeting of its 

 and 

 was held on June 3 in Milwaukee, Wisconsin. Highlights included a tour of the Gerald L. Ignace Indian Health Center, a nonprofit community clinic dedicated to the health and well-being of Milwaukee’s Native American population, and remarks from the Honorable Tom Barrett, Mayor of Milwaukee. 

The Community Investment Group is excited to welcome three interns (pictured left to right): Karina Pekala, Alexis Stein, and Alex Koerner. Karina is an undergraduate at Dominican University; Alexis is a recent graduate of the Masters in Urban Planning and Policy (MUPP) program at the University of Illinois at Chicago’s (UIC); and Alex is a MUPP student at UIC. Alexis and Alex will support competitive AHP application review and Karina will assist with Downpayment Plus Program operations. Welcome to the team! 

The Illinois Mortgage Bankers Association (IMBA) recently awarded Sharon Legenza, a member of the FHLBank Chicago’s 

, with their 2019 Affordable Housing Leadership Award. This award honors individuals and organizations who have demonstrated achievement in increasing affordable housing opportunities throughout the state. Congratulations, Sharon. 

The FHLBank Chicago is proud to invest in programs that support homeownership. Last year, we assisted more than 3,600 homebuyers and homeowners through our Downpayment Plus programs and our competitive Affordable Housing Program. Additionally, the Mortgage Partnership Finance

®

 (MPF

®

) Program purchased more than 59,000 mortgages from 900 members of nine Federal Home Loan Banks nationwide in support of homeownership across their districts. 

The FHLBank Chicago published a Community Investment Advisory in response to the U.S. Department of Housing and Urban Development’s (HUD's) recent Mortgagee Letters, which set forth updated documentation requirements for down payment assistance provided by governmental entities used in conjunction with Federal Housing Administration-insured mortgage loans, and subsequently extended their effective date until July 23, 2019. 

 for more information. 

HUD has released income limits for 2019. Effective May 3, these limits are used to determine income eligibility for the competitive Affordable Housing Program and DPP programs. New income limits are also available for Community Advances. Visit our 

 for more information and resources. 

View photos from events attended by FHLBank Chicago staff. 

Project Spotlight:  Layton Square Location: Cudahy, Wisconsin AHP award: $750,000 Member: First American Bank Sponsor: Midwest Affordable Housing Corp. Photo courtesy of Midwest Affordable Housing Corp.Calendar 

 Opportunity Finance Network’s 

 Chicago, IL | Attending

 Community Investment Corporation’s 

 Chicago, IL | Attending

 Illinois Housing Council’s 

 Chicago, IL | Attending

 The Wisconsin Collaborative for Affordable Housing’s 

 Eau Claire, WI | Attending, Exhibiting, and Sponsoring

 Illinois Housing Council’s

 Chicago, IL | Attending

 Accion’s

 Chicago, IL | Attending

 Wisconsin Housing and Economic Development Authority’s

 Madison, WI | Attending, Exhibiting, and Sponsoring