Industry Concerned With FHLBank Affordable Housing Proposal
June 22, 2018
A proposed rule that was touted to give Federal Home Loan Banks more flexibility in allocating their affordable housing funds is catching heat from many industry stakeholders. In fact, many deemed the proposed rule, issued on March 14, too complex to digest during the initial 60-day comment period and asked for an extension. One of the groups, the National Association of Home Builders, said, “The complexity and magnitude of the revision make the 60-day comment period an extremely difficult timeframe in which to assess and respond to the proposal.”The comment period was extended by 30 days and closed last week. There were 404 comments in all and more than 100 came in on June 12, the last day to offer input.