The Federal Deposit Insurance Corporation announced Sept. 15 it has published a guide and launched an online resource center to help community bankers learn more about single-family housing products offered by federal agencies and government-sponsored enterprises.
The Affordable Mortgage Lending Guide, Part I: Federal Agencies and Government Sponsored Enterprises describes federal programs for single-family housing lending that support home purchase, refinance, manufactured housing, and some home improvements, according to an FDIC news release. The guide covers programs intended to assist a variety of communities, such as rural areas and Native American communities, as well as low- and moderate-income individuals, first-time homebuyers and veterans, the release said.
The guide is a resource for bankers to gain an overview of a variety of program resources, to compare different products, for information on Community Reinvestment Act implications, and to help identify the next steps for program participation, according to the release.
The FDIC developed the guide after receiving frequent feedback from community bankers who said they did not understand the wide array of federal housing programs that are available and encouraged the development of a resource on all the programs in one location, according to the release.
The FDIC also launched the Affordable Mortgage Lending Center, an online resource center featuring data, fact sheets and mortgage lending studies from the FDIC and other federal resources. The center includes the full version of the guide and provides links that take the reader directly to the programs, the release said.
The 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 second and third parts will be posted to the Affordable Mortgage Lending Center later in 2016, according to the release.
The publications can be ordered at https://catalog.fdic.gov or can be downloaded from the online resource center. Individuals with questions or comments about the guide or center can email email@example.com.