Information contained in an affordable mortgage guide for community banks has been updated to give the latest information on mortgage products offered through federal agencies and government-sponsored enterprises (GSEs).
The Federal Deposit Insurance Corp. (FDIC), in Financial Institution Letter (FIL) 84-2018, explains how the agency’s Affordable Mortgage Lending Guide, Part I: Federal Agencies and Government Sponsored Enterprises has been revised to give the most up-to-date information available about the mortgage products offered through federal housing programs such as the Federal Housing Administration, as well as Fannie Mae and Freddie Mac.
This Part 1 of the guide is intended to be a resource for community banks to gain an overview of a variety of products, compare different products, and identify next steps to expand or initiate a mortgage lending program.It describes federal programs that support home purchase, refinance, manufactured housing, and some home improvement lending by banks. It covers programs that are targeted to a variety of communities and individuals including rural, Native American, low- and moderate-income, and veterans, the letter says..
FIL 84-2018 (HTML)
FIL 84-2018 (PDF)