FHFA’s changes to the Affordable Housing Program rule :

• provide the Federal Home Loan Banks additional authority toallocate their AHP funds;
• authorize the Banks to establish separate competitive funds that target specific affordable housing needs in their districts;
• provide the Banks additional flexibility in designing their project selection scoring systems to address affordable housing needs in their districts;
• remove the requirement for retention agreements for owner-occupied units where the AHP subsidy is used solely for rehabilitation;
• provide for a calculation of household subsidy repayment amount that prioritizes return of the household’s investment in the housing to the household;
• reduce administrative burdens related to calculating and obtaining household subsidy repayments based on net proceeds of the sale of a home;
• further align certain project monitoring requirements with those of other federal government funding programs;
• clarify the requirements for remediating AHP noncompliance;
• clarify certain operational requirements; and
• streamline and reorganize the regulation.