The Federal Deposit Insurance Corporation (FDIC) released a pair of resources for community bankers last week that provide detailed information on single-family housing products.
The materials, which include a published guide and an online resource center, were designed in response to feedback from community bankers that indicated a need for training on housing options from federal agencies and government-sponsored enterprises. The Affordable Mortgage Lending Guide, Part I: Federal Agencies and Government Sponsored Enterprises provides information on government programs for single-family housing lending, covering programs that are useful for a broad spectrum of communities, such as rural communities, Native American communities, veterans, low-income homebuyers, and individuals purchasing homes for the first time. The online Affordable Mortgage Lending Center serves as a complement to the guide, providing data, fact sheets, and mortgage lending studies, as well as direct links to relevant programs.
Community bankers seeking to improve their knowledge base on related topics will be able to take advantage of these resources, gaining access to tools for comparative analyses of different products, information on Community Reinvestment Act implications, and facts on program participation.
In addition to part I of the Affordable Mortgage Lending Guide, FDIC will publish Part II: State Housing Finance Agencies and Part III: Federal Home Loan Banks later this year.