![]() ![]() Making policy decisions and enforcing the program's regulations. Regulate the System, the 1989 act created the Federal Housing Financeīoard (Finance Board), whose five directors are responsible for Member institutions, including savings and loan associations, savingsīanks, commercial banks, credit unions, and insurance companies. Home Loan Bank System comprises 12 regional banks and over 5,300 The federally chartered, privately owned Federal Subsidies, assessed annually from their net income, to supportĪffordable housing. In addition, the law requires the banks to provide Make loans to their members for use in financing housing and economicĭevelopment. The primary function of the Federal Home Loan Banks (banks) is to This report examines (1) how the program's funds have been used toĪdministered, and (3) whether there are opportunities to improve the Moderate incomes and directed that GAO evaluate this program. To help finance housing for households with very low, low, and The Financial Institutions Reform, Recovery,Īnd Enforcement Act of 1989 required, among other things, that theįederal Home Loan Bank System establish an Affordable Housing Program Housing has prompted the Congress to expand the capital available toįinance such housing. Goal of national housing policy since 1949. Chapter 0:1ĭecent and affordable housing for every American family has been a Major contributors to this report are listed If you or your staff have any questions about this work, please call ![]() We will also make copies available to others on Housing and Urban Development the Chairman, Federal Housing Financeīoard the Director, Office of Management and Budget and other Subcommittees interested in affordable housing the Secretary of We are sending copies of this report to congressional committees and Report contains recommendations aimed at improving the program'sĪdministration and assistance to the intended beneficiaries. System's implementation of the Affordable Housing Program byĪddressing (1) how the program's funds have been used to supportĪffordable housing initiatives, (2) how the program has beenĪdministered, and (3) what opportunities exist for improvement. This report, mandated by the Financial Institutions Reform, Recovery,Īnd Enforcement Act of 1989, assesses the Federal Home Loan Bank HUD - Department of Housing and Urban Development = ABBREVĪIDS - acquired immune deficiency syndromeįIRREA - Financial Institutions Reform, Recovery, and Enforcement ** A printed copy of this report may be obtained from the GAO ** ** available, for a complete electronic file of the printed ** ** Please see the PDF (Portable Document Format) file, when ** ** may not resemble those in the printed version. ** No attempt has been made to display graphic images, although ** These numbers do NOT correspond with the ** ** indicate the position of each of the subsections in the ** The numbers on the right end of these lines ** ** Sections, and Appendixes, are identified by double and ** ** divisions and subdivisions of the text, such as Chapters, ** ** titles, headings, and bullets are preserved. Delineations within the text indicating chapter ** ** This file contains an ASCII representation of the text of a ** HUD Low Income Housing Tax Credit Program RTC Affordable Housing Disposition Program IDENTIFIER: RTC Affordable Housing Program TITLE: Housing Finance: Improving the Federal Home Loan Bank Run, and (3) whether opportunities exist to improve the program as a Support affordable housing initiatives, (2) how the program has been This report examines (1) how program funds have been used to Very low, low, and moderate incomes and directed GAO to evaluate this The Financial Institutions Reform, Recovery, and EnforcementĪct of 1989 required that the Federal Home Loan Bank System establish anĪffordable Housing Program to help finance housing for households with Has prompted Congress to expand the capital available to finance such Housing Program (Chapter Report, 06/09/95, GAO/RCED-95-82).ĭecent and affordable housing for every American family has been a goal Housing Finance: Improving the Federal Home Loan Bank System's Affordable Housing Program Housing Finance: Improving the Federal Home Loan Bank System's Affordable
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