FDIC Affordable Mortgage Resources FDICs Affordable Mortgage Lending

FDIC Affordable Mortgage Resources FDIC’s Affordable Mortgage Lending Guide & Center Victor Galloway

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending Affordable Mortgage Lending Guide and Center • The FDIC created the Affordable Mortgage Lending Guide, which is a three-part series of publications that identifies key resources for community banks to use for affordable mortgage products. • Part I: Federal Agencies and Government Sponsored Enterprises (released: September 15, 2016) • Part II: State Housing Finance Agencies (released: November 3, 2016; updated July 1, 2017) • Part III: Federal Home Loan Banks (released: April 6, 2017) • The Guide and Center are technical resources to gain an overview of a wide variety of programs, compare different programs, and to help identify the next steps for program participation. Federal Deposit Insurance Corporation 2

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending Federal Deposit Insurance Corporation 3

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending The Affordable Mortgage Lending Guide, Part I • Focuses on federal programs for single-family housing that support: • Home purchase • Refinance • Manufactured housing • Some home improvement lending • Covers programs that are targeted to a variety of communities including: rural areas, Native American, lowand moderate-income individuals, first-time homebuyers, and veterans. Federal Deposit Insurance Corporation 4

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending About the Affordable Mortgage Lending Guide, Part I • Federal Agencies and Government Sponsored Enterprises describes programs from the: • U. S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) • U. S. Department of Veterans Affairs (VA) • U. S. Department of Agriculture (USDA) • U. S. Treasury Department’s Community Development Financial Institutions Fund (CDFI Fund) • Fannie Mae • Freddie Mac Federal Deposit Insurance Corporation 5

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending Part I HUD & FHA Federal Deposit Insurance Corporation 6

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending Overview Doing Business with HUD & FHA Federal Deposit Insurance Corporation 7

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending Overview of HUD and FHA Federal Deposit Insurance Corporation 8

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending FHA Title I Property Improvement Loan Insurance Federal Deposit Insurance Corporation 9

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending FHA Title I Programs Federal Deposit Insurance Corporation 10

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending Similar Programs Federal Deposit Insurance Corporation 11

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending Dealer Contractor Application Form Federal Deposit Insurance Corporation 12

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending Federal Deposit Insurance Corporation 13

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending About the Affordable Mortgage Lending Guide, Part II • The Affordable Mortgage Lending Guide, Part II: State Housing Finance Agencies describes the programs and products offered by state housing finance agencies. • Since each state housing finance agency has different products, Part II provides general information on first mortgage products, down payment and closing assistance, mortgage tax credit certificates, and homeownership education and counseling programs that can facilitate mortgage lending by insured depository institutions. Federal Deposit Insurance Corporation 14

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending About the Affordable Mortgage Lending Guide, Part II • Many of these products can be used in conjunction with other federal and government-sponsored enterprise programs, as well as Federal Home Loan Bank products. • Part II also includes individual summaries of each state housing finance agency that lists specific programs and services offered. • Part II was updated on July 1, 2017. Federal Deposit Insurance Corporation 15

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending State Links for HFAs Click on the State Federal Deposit Insurance Corporation 16

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending Federal Deposit Insurance Corporation 17

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending HFA Products & Resources 1 st Lien Federal Deposit Insurance Corporation 18

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending STATE HOUSING FINANCE AGENCY PRODUCTS California Housing Finance Agency (Cal. HFA) Federal Deposit Insurance Corporation 19

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending About the Affordable Mortgage Lending Guide, Part III • The Affordable Mortgage Lending Guide, Part III: Federal Home Loan Banks describes many of the products and services offered by the Federal Home Loan Banks, including the Affordable Housing and Community Investment Programs, advances, the Mortgage Purchase Program, and the Mortgage Partnership Finance® Program. • The Guide also describes FHLB products that support single-family home purchases, such as down payment and closing cost assistance, many of which can be used in conjunction with programs offered by other federal and state housing finance agencies and government-sponsored enterprises. • Part III also includes individual summaries of each Federal Home Loan Bank that lists specific products and services offered. Federal Deposit Insurance Corporation 20

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending Quick Links For FHLB Summaries FHLB of San Francisco CA, AZ, & NV Federal Deposit Insurance Corporation 21

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending FHLB of SF Overview of Affordable Lending Services & Affordable Lending Products Federal Deposit Insurance Corporation 22

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending (Mortgage Partnership Finance) Guide contains a description of each of the products Federal Deposit Insurance Corporation 23

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending Programs specific to FHLBSF: IDEA & WISH (Down Payment & Closing Cost Assistance) Federal Deposit Insurance Corporation 24

AFFORDABLE MORTGAGE LENDING GUIDE & CENTER www. fdic. gov/mortgagelending Visit FDIC’s Affordable Mortgage Lending Center at https: //fdic. gov/mortgagelending To order your copy of The Affordable Mortgage Lending Guide, go to https: //catalog. fdic. gov (Banker Resources). Part I is no longer available in hard copy format. For questions about either the Affordable Mortgage Lending Guide or the Affordable Mortgage Lending Center, email: mortgagelending@fdic. gov Community Affairs Contact for Southern CA Mduron@fdic. gov Federal Deposit Insurance Corporation 25