FDIC Affordable Mortgage Lending Guide will get you there faster!

The Federal Deposit Insurance Corporation (FDIC) has released a new guide to help community bankers “learn more about grant and mortgage loan programs offered by State Housing Finance Agencies.”

The Affordable Mortgage Lending Guide, Part II: State Housing Finance Agencies “describes programs offered by State Housing Finance Agencies across the country.” The guide centers on:

  • first-lien mortgage products
  • down payment and closing assistance
  • mortgage tax credit certificates
  • homeownership education and counseling programs that can facilitate mortgage lending by insured depository institutions

The guide also contains a summary of each State Housing Finance Agency, “listing programs offered and providing web links for easy reference by bankers operating in that state or territory.”

The FDIC’s Affordable Mortgage Lending Guide includes three parts: Part I: Federal Agencies and Government Sponsored Enterprises; Part II: State Housing Finance Agencies; and Part III: Federal Home Loan Banks. The third publication will be available and posted to the Affordable Mortgage Lending Center later in 2016.

In a release today, the FDIC articulated, “Bankers can use this publication as a resource to gain an overview of a variety of program resources, compare different products, obtain information on Community Reinvestment Act implications, and help identify the next steps for program participation.”

This guide is a resource community bankers had encouraged and requested in the past, and both publications can be found at the Affordable Mortgage Lending Center, an online resource providing fact sheets, data, and mortgage lending studies from the FDIC and additional federal resources. The center also features links leading directly to housing programs showcased in the guide.

The publications can be ordered at https://catalog.fdic.gov (Bankers Resources) or downloaded from the Affordable Mortgage Lending Center. To subscribe to receive information about updates and new publications, go to www.fdic.gov/about/subscriptions/index.html. For questions or comments about the guide, email mortgagelending@fdic.gov.

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