Rural Resource Guides
Shawn Poynter / There Is More Work To Be Done
Shawn Poynter / There Is More Work To Be Done
The Affordable Housing Program
The Federal Home Loan Bank (FHLBank)System consists of 12 district banks that provide lending, deposit, and other services to member mortgage-lending institutions under the oversight of the Federal Housing Finance Agency. The 12 FHLBanks are instrumentalities of the federal government, but are wholly owned by their member institutions. The 12 FHLBanks reserve 10 percent of their collective net income or $100 million, whichever is greater, for use in the Affordable Housing Program (AHP). In 2004, the AHP had $229 million available.