April 30, 2018

FHFA: Correction and Extended Comment Period for Proposed Rule Amending FHLB Affordable Housing Program Regulation

The Federal Housing Finance Agency (FHFA) today announced that it is extending the comment period for the Agency’s proposed rule to amend the Federal Home Loan Banks’ Affordable Housing Program by 30 days.  The comment period was previously set to close on May 14, 2018, 60 days after publication in the Federal Register.  The comment period will now close on June 12, 2018.

FHFA is also sending amended language to the Federal Register to correct a calculation in the proposed rule which prevented AHP funds awarded to the Homeownership Set-Aside Program from being counted toward fulfillment of a proposed regulatory outcome requirement.

FHFA is extending the comment period due to the high level of interest in the proposed rule, requests from multiple stakeholders for more time to evaluate it, and to allow time for comments on the proposed amended language.

Comments on the proposed rule, including on the amended language, must be received by June 12, 2018 and should be submitted via FHFA.gov or in accordance with the directions provided in the Federal Register notice extending the comment period.

Link to Proposed Rule (published March 14, 2018)

Link to Extension and Correction to Proposed Rule (text as sent to Federal Register)

This post was originally published here.