Skip to content

Archives

Federal home loan bank atlanta


federal home loan bank atlanta

ATLANTA, Nov. 17, 2021 (GLOBE NEWSWIRE) — Federal Home Loan Bank of Atlanta today announced the results of the 2021 director election. We have an extensive digital library of financial resources available to everyone. Hit the books to learn more about personal finance, mortgage services and. “Serving as trusted advisors and a reliable source of liquidity for our members remains FHLBank Atlanta's primary focus,” said FHLBank Atlanta.
federal home loan bank atlanta
federal home loan bank atlanta

ATLANTA, May 12, 2016 — Federal Home Loan Bank of Atlanta (FHLBank Atlanta) and Atlanta BeltLine, Inc. (ABI) today announced the reopening of the affordable housing finance partnership: the Atlanta BeltLine Housing Initiative Program (HIP). The HIP offers up to $3 million in grant funding for the purchase of new homes or the rehabilitation of existing homes along the Atlanta BeltLine corridor. Funding is available exclusively to FHLBank Atlanta shareholder financial institutions and their eligible customers earning 80 percent or less than the area median income.

During the 2015 pilot, HIP facilitated up to $1.7 million in first mortgage federal home loan bank atlanta and provided up to $450,000 1 first convenience bank texas grant funding to new homeowners. Interested homebuyers can visit the Atlanta BeltLine’s website at www.AtlantaBeltLineHomes.com to submit an application. The owner-occupied rehab program continues, but the wait list is currently closed to new applicants.

“Offering affordable units for working families is a key priority for the City of Atlanta and my Administration,” said Atlanta Mayor Kasim Reed. “I look forward to the return of the partnership between the Federal Home Loan Bank of Atlanta and Atlanta BeltLine, Inc. after the completion of a successful pilot program in 2015. It is imperative that low-income families can access the benefits of living near the BeltLine as the project continues to positively transform the face of our City.”

“ABI is committed to ensuring that the Atlanta BeltLine community continues to be a place that everyone has the opportunity to call home,” said Atlanta BeltLine, Inc. President and CEO, Paul Morris. “As the Atlanta BeltLine continues to grow, we want to celebrate the diversity of the 45 neighborhoods and assist individuals and families most affected by the impacts from growth and change. This unique partnership with FHLBank Atlanta is a significant tool in fulfilling our usps office open today of creating 5,600 units of affordable housing.”

“The mission of the Federal Home Loan Bank of Atlanta is to help our shareholder financial institutions meet the changing affordable housing and credit needs of the communities they serve,” said Robert Dozier, Executive Vice President and Chief Business Officer for FHLBank Atlanta. “One of the ways that we achieve that mission is to connect our shareholders with initiatives like these, as they build communities, stimulate the local economy, and improve the lives of their customers.”

Eligible participants include households at or below 80 percent of the area median income. Eligible 2010 lexus is350 f sport include single-family homes within the Atlanta BeltLine Planning Area and must serve as the primary residence. Borrowers must contribute at least $1,000 toward the purchase of federal home loan bank atlanta home. Interested homebuyers should contact the Atlanta BeltLine at www.AtlantaBeltLineHomes.com to begin an application.

About Atlanta BeltLine, Inc.

The Atlanta BeltLine is the most comprehensive transportation and economic development effort ever undertaken in the City of Atlanta and among the largest, most wide-ranging urban redevelopment programs currently underway in the United States. The Atlanta BeltLine is a sustainable redevelopment project that will provide a network of public parks, multi-use trails and transit along a historic 22-mile railroad corridor circling downtown and connecting many neighborhoods directly to each other. Atlanta BeltLine, Inc. (ABI) is the entity tasked with planning and executing the implementation of the Atlanta BeltLine in partnership with other public and private organizations, including City of Atlanta departments. For more information on the Atlanta BeltLine, please visit www.BeltLine.org.

About the Federal Home Loan Bank of Atlanta

FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank’s members—its shareholders and customers—-are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies headquartered in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $4.8 billion in Affordable Federal home loan bank atlanta Program funds, assisting more than 758,000 households.

For more information, please contact:

www.AtlantaBeltLineHomes.com
(404) 554-0940
[email protected]

Источник: https://beltline.org/2016/05/12/atlanta-beltline-inc-and-federal-home-loan-bank-of-atlanta-partner-for-2016-downpayment-assistance-program/

Deadline: 4/02/2020

Amount: $500,000 max

Website: https://corp.fhlbatl.com/who-we-are/news/fhlbank-atlanta-announces-availability-of-2020-ahp-competitive-funds/

Description:

The purpose of this program is to support the acquisition, construction, rehabilitation, and development of affordable housing targeted toward households earning at or below 80 percent of the area median income. Funding will be provided as gap financing in the form of subsidized advances and direct subsidies. Eligible projects must be proposed by a developer acting as the project sponsor and a member financial federal home loan bank atlanta of the funding agency acting as the applicant.

Funding will support the following project categories:

  1. Owner-occupied projects: purchase, construction, or rehabilitation of an owner-occupied project by or for very low- low- or how many kids does tyra banks have households, with the scope of rehabilitation limited to the correction of defects or deficiencies in the structure or in access to the structure
  2. Rental projects: purchase, construction, or rehabilitation of rental projects in which at least 20 percent of the units are occupied by and affordable for very low-income households
Источник: https://joiningvisionandaction.com/funding-opportunities/federal-home-loan-bank-atlanta-affordable-housing-program/

ATLANTA (April 6, 2021) — Federal Home Loan Bank of Atlanta (FHLBank Atlanta) and Truliant Federal Credit Union (Truliant) announced today that Truliant has become the first financial institution in the Southeast to complete a transfer of an electronic promissory note (eNote) to FHLBank Atlanta. The digital transaction was completed March 26 during a video conference call using Truliant’s DocMagic eVault and the Mortgage Electronic Registration Systems (MERS) eDelivery system.

The transfer was completed as part of FHLBank Atlanta’s eNote pilot program, which is intended to test the infrastructure necessary to allow a limited number of FHLBank Atlanta members to report eNotes as collateral. eNotes contain the same information as a traditional mortgage paper note, but they are created, signed, and stored digitally within an eVault with a tamper-seal to secure and authenticate the document.

In order for the transfer to be effective, Truliant met a series of standards relating to eSignatures, eNote documentation, eClosings, eRegistry requirements, eNote vault requirements, and servicing system requirements. These standards reflect the set of core requirements published by the 11 Federal Home Loan Banks in early 2020. Since 2017, the Federal Home Loan Banks have been working together to develop the many components necessary to allow their individual members to pledge eNotes and they are in various stages of accepting eNotes as collateral. The transfer of Truliant’s first eNote marks the launch of FHLBank Atlanta’s pilot program for accepting eNotes.

“This is the culmination of years of work by the state of North Carolina, FHLBank Atlanta and a dedicated team at Truliant,” said Todd Hall, President and CEO of Truliant. “Truliant completed its first end-to-end eClosing on March 27 of last year. So, literally, one year later we are the first member to deliver an eNote to FHLBank Atlanta. This final digital step makes the whole homebuying experience quicker, more accurate and secure.”

An eNote is a single, unique, unaltered, and digital version of the promissory note which must meet the requirements of electronic transactions laws. eNotes are a product of the rapidly growing mortgage eClosings process, a faster and more secure way for consumers to close their loan. eClosings help lenders streamline workflows, and create efficiency by removing manual steps in the closing process, helping them process loans more quickly.

“The transfer of this eNote is a significant milestone for FHLBank Atlanta,” said Rob Kovach, FHLBank Atlanta’s Chief Credit Officer. “Interest in the ability to pledge eNotes as collateral continues to grow among our members and this initial transfer demonstrates that we now have the ability to meet this growing demand. We appreciate Truliant for partnering with us to complete this transaction and create a path for more members to begin transferring eNotes at the end of our pilot program.”

When a closing is completed, the eNote is tamper-sealed and registered with the MERS eRegistry system, which also indicates the location of the authoritative copy. eNotes cannot be altered without the change being recorded on a digital audit trail, and the note cannot be first premier bank cash advance the Federal Home Loan Bank of Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank's members—its shareholders and customers—-are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System. Federal home loan bank atlanta 1990, the FHLBanks have awarded approximately $6.6 billion in Affordable Housing Program funds, assisting more than 957,000 households. For more information, visit our website at www.fhlbatl.com.

About Truliant Federal Credit Union
Truliant is a mission-driven, not-for-profit financial institution that promises to always have its member-owners’ best interest at heart. It improves lives by providing financial guidance and affordable financial services. Truliant was chartered in 1952 and now serves 270,000+ members. Truliant has more than 30 Member Financial Centers in North Carolina, South Carolina and Virginia.

Источник: http://greensborochamber.chambermaster.com/news/details/fhlbank-atlanta-and-truliant-announce-transfer-of-first-mortgage-enote

Eligible Homebuyers and Homeowners can receive up to $10,000 through FHLBank Atlanta Members

ATLANTA, Jan. 19, 2021 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that funding for its 2021 Affordable Housing Program (AHP) Homeownership Set-aside Program is now available. The products within this program, previously referred to as Homeowner Assistance products, are designed to help eligible homebuyers and homeowners purchase or rehabilitate a home.

New for 2021, eligible homebuyers may receive maximum funding of up to $7,500 through the First-time Homebuyer product, an increase from the previous maximum of $5,000. Maximum funding through the Community Partners product is increased to federal home loan bank atlanta for 2021, up from the previous maximum of $7,500. The Community Partners product has also been expanded to include “essential workers,” as defined by relevant state or local government entities, and eligibility for the Community Rebuild and Restore product has been expanded to include COVID-19 related disasters as designated by the Federal Emergency Management Agency (FEMA). Finally, a new Structured Partnership product has been created to leverage funding and operations platforms of federal, state, and local COVID-19 response efforts.

A summary of 2021 Homeownership Set-aside Program products is below. To learn more click here:

  • First-time Homebuyer Product
    The First-time Homebuyer product provides up to $7,500 in down-payment, closing-cost, and principal reduction assistance for eligible first-time homebuyers.
  • Community Partners Product
    The Community Partners product provides up to $10,000 in down-payment, closing-cost, counseling, or home rehabilitation assistance for homebuyers who are current or retired health care workers, law enforcement officers, educators, firefighters, and other first responders. The Community Partners product is also available to veterans and active-duty members of the U.S. military, or their surviving spouses, and essential workers.

  • Community Rebuild and Restore Product
    The Community Rebuild and Restore product provides up to $10,000 in funding for the rehabilitation of an existing owner-occupied home in a “Major Disaster Declaration” area as designated by FEMA, including COVID-19 related disasters. The homeowner must have at least 30 days of current ownership by life estate or full interest in the fee title and have ownership of the subject property at the time of the “Major Disaster Declaration.” The “Major Disaster Declaration” must have occurred no later than 36 months prior to the date of application for Community Rebuild and Restore funding.
  • COVID-19 Structured Partnership Product
    The COVID-19 Structured Partnership product will provide funds for eligible home purchase and rehabilitation transactions. Agreements between FHLBank Atlanta and federal, state, or local governments, or housing finance agencies will facilitate these transactions and allow FHLBank Atlanta members to deliver AHP compliant products that leverage COVID-19 relief efforts.

Since 1997, the AHP Homeownership Set-aside Program has provided more than $244.5 million in grant funding that has enabled more than 37,000 households to purchase or rehabilitate a home. In 2020 alone, FHLBank Atlanta member financial institutions delivered $18 million in home purchase and rehabilitation grant funding, leveraging more than $602 million in first mortgage financing to assist 3,184 households.

A listing of member financial institutions is available on the FHLBank Atlanta website at www.fhlbatl.com.

If you need assistance finding a member financial institution to work with, or for more information, call the Bank’s Community Investment Services department at 1.800.536.9650, option 3.

About the Federal Home Loan Bank of Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank’s members – its shareholders and customers – are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $6.6 billion in AHP funds, assisting more than 957,000 households.

CONTACT: Peter Garuccio
Federal Home Loan Bank of Atlanta
[email protected]
404.888.8143

Источник: https://apnews.com/press-release/globe-newswire/lifestyle-business-alabama-home-buying-financial-services-aca148e6f1b30be08080d1655efb828b
Get it on the App Store
Download the Bank of America App

Before you leave our site, we want you to know your app store has federal home loan bank atlanta own privacy practices and level of security which may be different from ours, so please review their policies.

Or we can text a download link directly to your phone

By providing your mobile number you are consenting to receive a text message. Text message fees may apply from your carrier. Text messages may be transmitted automatically.

Apple, the Apple logo, iPhone, iPad, Apple Watch and Touch ID are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.

Get it on the App Store
Download the Bank of America App

Before you leave our site, we want you to know your app store has its own privacy practices and level of security which may be different from ours, so please review their policies.

Or we can send you a link by email

Apple, the Apple logo, iPhone, iPad, Apple Watch federal home loan bank atlanta Touch ID are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.

Get it on Google Play
Download the Bank of America App

Before you leave our site, we want you to know your app store has its own privacy practices and level of security which may be different from ours, so please review their policies.

Or we can text a download link directly to your phone

By providing your mobile number you are consenting to receive a text message. Text message fees may apply from your carrier. Text messages may be transmitted automatically.

Android is a trademark of Google Inc. Samsung is a registered trademark of Samsung Electronics Co., Ltd.

Get the mobile banking app

Before you leave our site, we want you to know your app store has its own privacy practices and level of security which may be different from ours, so please review their polices.

Continue

We've sent you a download link

We sent an email with the download link to

We sent a text message with the download link to

We couldn't send the link

We're sorry we weren't able to send you the download link. Please try again, or use your mobile device to get the app from its app store.

Источник: https://www.bankofamerica.com/

We’re committed to your personal & financial wellness, as well as supporting our community during this time.Learn more

That's right - you can trade commission free with Ally Invest Self-Directed Trading.

Bye advisory fees. Hello free automated investing.

Thanks to our cash-enhanced option, we're offering investing free of advisory fees. Start investing with as little as $100.

Rates have reached near historic lows. You could get pre-approved for a home loan.

Set your goals, and blow them away.

Set your goals, and blow them away.

From building an emergency fund to saving for a down payment for a new home, we've got services to help you meet your goals.

Save for the future.

See how much you'll need to set aside each month to achieve your savings goals. 

20 Minutes to a Better Financial You.

Improving your financial life doesn't have to be complicated. 

Boost Your Emergency Fund.

Learn more about why you need an emergency fund, and figure out how to calculate what you federal home loan bank atlanta save. 

55% of Americans find a strong budgeting and saving strategy

to be the most appealing money management trait in a significant other.  

Learn more about saving as a family

Better than a local bank!

"As a baby boomer, I was hesitant to open an account with an “online bank”. What started as a checking account 3 years ago has expanded to CD's, even Ally's brokerage services. I receive better customer service from Ally than I do my local bank. Even better since I can do it from the comfort of my own home - Love it!” - Kirk C.

Read more Raise Your Rate CD reviews

Money Magazine Best Banks Award 2020

“Best Online Bank of 2020-2021”  
- MONEY® Magazine.  

Learn more

Meet the new driver of the Ally 48 – Alex Bowman.

image of alex bowman

meet the new driver of the ally 48 – alex bowman.

He’s a car guy, dog lover and NASCAR Cup Series rising federal home loan bank atlanta src="https://www.ally.com/content/dam/assets/ally-assets/images/3961_car_front_2x_smaller.png" alt="image of ally 48 race car">

image of alex bowman
Источник: https://www.ally.com/

Federal Home Discover online banking bonus Bank (FHLB) System

What Is the Federal Home Loan Bank System (FHLB)?

The Federal Home Loan Bank System (FHLB) is a consortium of 11 regional banks across the U.S. that provide a reliable stream of cash to other banks and lenders to finance housing, infrastructure, economic development, and other individual and community needs. The Federal Housing Finance Agency oversees the FHLB.

While the FHLB itself is overseen by a government bureau and its mandate reflects a public purpose, each FHLBank is privately capitalized and does not receive any government funding.

Key Takeaways

  • The FHLB is a network of 11 regional banks that provide cash to other banks in order to keep money flowing to consumers and businesses.
  • The FHLB was created by the federal government during The Great Depression, but it receives no taxpayer funding: Its banks are private cooperatives.
  • FHLBanks raise funds primarily from issuing bonds called consolidated obligations.
  • FHLBanks focus on mortgage financing and related community investments, providing low-cost loans that member banks can pass on to customers.

How the Federal Home Loan Bank (FHLB) System Works

The 11 regional banks that comprise the Federal Home Loan Bank System, known as FHLBanks, are structured as privately capitalized corporations—specifically, as cooperatives. They are owned by their members, local financial institutions which buy stock in the FHLBank. The institutions must engage in real estate lending as a condition of membership. As cooperatives, the FHLBanks pay no federal or state income taxes.

FHLB Banks

The 11 banks of the Federal Home Loan Bank System are scattered around the country. Each one services a geographic region made up of several states. The 11 FHLBanks include:

  • Federal Home Loan Bank of Atlanta
  • Federal Home Loan Bank of Boston
  • Federal Home Loan Bank of Chicago
  • Federal Home Loan Bank of Cincinnati
  • Federal Home Loan Bank of Dallas
  • Federal Home Loan Bank of Des Moines
  • Federal Home Loan Bank of Indianapolis
  • Federal Home Loan Bank of New York
  • Federal Home Loan Bank of Pittsburgh
  • Federal Home Loan Bank of San Francisco
  • Federal Home Loan Bank of Topeka

There used to be 12 FHLB Banks. But in 2015, the Federal Home Loan Bank of Seattle merged with the Federal Home Loan Bank of Des Moines. The institution is headquartered in Des Moines and maintains a western office in Seattle.

FHLB Services

As cooperatives, FHLBanks maintain moderate costs and overhead, which are reflected in the interest they charge their member banks. This means the member banks have access to low-cost loans, which they, in turn, lend to their customers.

The FHLBanks' primary focus is real estate financing. Unlike the other real estate-oriented government-sponsored enterprises—Fannie Mae and Freddie Mac—FHLBs do not guarantee or insure mortgage loans, however. Instead, FHLBs act as a “bank to banks” by providing long- and short-term loans, called “advances,” to their members, as well as specialized grants and loans aimed at increasing affordable housing and economic development. In some cases, FHLBs also provide secondary market outlets for members interested in selling mortgage loans.

FHLBanks participate in and operate through various federal programs. These include the Affordable Housing Program, the Community Investment Program, the Mortgage Partnership Finance Program, and the Mortgage Purchase Program.

About 80% of U.S. lending institutions rely on Federal Home Loan Banks.

6,700

The approximate number of banks, credit unions, insurance companies, thrifts, and certified community development financial institutions that are members of the FHLB and receive funding from it.

How the FHLBanks are Funded

To raise funds, the Federal Home Loan Banks issue bonds, discount notes, and other forms of term debt in the capital markets. These are known as consolidated obligations.

Debt issuance federal home loan bank atlanta all 11 banks is managed by the FHLB Office of Finance. While each debt instrument is issued individually by each bank, it is backed collectively by all banks in the system, providing for a lower-risk investment.

History of the FHLB System

The Federal Home Loan Bank System developed in response to the Great Depression, which was devastating the U.S. economy—especially the banking industry. It was created by the Federal Home Loan Bank Act of 1932, the first in a series of bills that sought to make homeownership an achievable goal for more Americans. The rationale was, by providing banks with low-cost funds to be used for mortgages, they would be more likely to make loans; as a result, individuals would find it easier to borrow money to buy homes, thus stimulating the residential real estate market.

The FHLB originally consisted of 12 independent, regional wholesale banks (similar to the 12 regional Federal Reserve Banks). The Act provided them with total funding of $125 million. In 2015, though, the Seattle and Des Moines banks merged, reducing the total number of FHLBanks to its current 11.

The Act also created the Federal Home Loan Bank Board to oversee the system. The Board was discontinued in 1989, and oversight responsibility was transferred to the Federal Housing Finance Board (FHFB) and regulatory responsibility to the Office of Thrift Supervision (OTS). Since 2008, the FHLB has been regulated by the Federal Housing Finance Agency, created by the Housing and Economic Recovery Act (HERA).

On June 23, 2021, the U.S. Supreme Court ruled that the head of the Federal Housing Finance Agency (FHFA), which oversees the FHLB, could be removed without cause. Later the same day, President Joe Biden removed Trump-appointed FHFA Director Mark Calabria and appointed Sandra L. Thompson as acting director.


For much of the FHLB's 89-year history, savings and loan institutions dominated the ranks of its member financial institutions. Their numbers began to dwindle in the 1980s and '90s, after the Savings and Loan Crisis. In the 21st century, commercial banks (which were allowed to join the system in 1989) and insurance companies have come to make up most of the membership.

Impact of the Federal Home Loan Bank System

Proponents of the Federal Home Loan Bank System argue it plays a critical role in the continuous flow of funds to the residential mortgage market, making housing and homeownership possible for millions. FHLBs also provide funding for rental properties, small businesses, and other neighborhood development initiatives, resulting in economic and employment growth, stronger local communities, and a higher overall quality of living.

However, critics claim that the FHLB, via its use of federally subsidized programs, distorts the basic supply-and-demand economics of the housing market. Funding through the FHLB, they argue, encourages irresponsible lending and a residential real estate cycle with more volatile booms and busts.

$820.7B

The amount in total combined assets held by FHLBanks in 2020.

There are also concerns that the recent growth in the Federal Home Loan Bank members and increased reliance on FHLB funding, along with the increasing interconnectedness of the financial system, could mean that any distress among FHLBanks could spread more widely throughout the capital markets and the economy.

FHLBanks have had their share of financial difficulties over the years—in fact, it was an inability to recover from capital losses that led FHLB Seattle to merge with FHLB Des Moines. However, their practices overall highest paying interest rate savings account strong. During the subprime mortgage-induced 2008 financial crisis, for example, the FHLBanks did not require any government bailouts, as sister GSEs Fannie Mae and Freddie Mac did. in fact, as other sources of funding dried up, they increased their lending.

Источник: https://www.investopedia.com/terms/f/fhlb.asp

Federal home loan bank atlanta -

Federal Home Loan Banks

Map of FHLB territories since the merger of the Seattle and Des Moines banks in 2015.

The Federal Home Loan Banks (FHLBanks, or FHLBank System) are 11 U.S. government-sponsored banks that provide liquidity to the members of financial institutions to support housing finance and community investment.[citation needed]

Overview[edit]

The FHLBank System was chartered by Congress in 1932, during the Great Depression. It has a primary mission of providing member financial institutions with financial products/services which assist and enhance the financing of housing and community lending. The 11 FHLBanks are each structured as cooperatives owned and governed by their member financial institutions, which today include savings and loan associations (thrifts), commercial banks, credit unions and insurance companies. Each FHLBank is required to register at least one class of equity with the SEC, although their debt is not registered.[citation needed]

A benefit of FHLBank membership is access to liquidity through secured loans, known as advances, which are funded by the FHLBanks in the capital markets from the issuance of discount notes or term debt, collectively known as consolidated obligations (COs). COs are joint and several obligations of all the FHLBanks, i.e., any debt issued on behalf of one FHLBank is the responsibility of all for repayment, with the issuing FHLBank having the primary responsibility. The Office of Finance (OF) serves as the fiscal agent for the FHLBanks, with responsibility for offering, issuing and servicing COs, as well as preparing the combined financial reports.[1] Although the individual FHLBanks are SEC registrants, the FHLBank System is not. Thus, the FHLBank System financial reports are “combined” rather than “consolidated.”[citation needed]

Ownership[edit]

The 11 banks of the FHLBank System are owned by over 7,300 regulated financial institutions from all 50 states, U.S. possessions, and territories. Equity in the FHLBanks is held by these owner/members and is not publicly traded. Institutions must purchase stock in order to become a member. In return, members obtain access to funding, and also receive dividends based on their stock ownership. The FHLBanks are self-capitalizing in that as members seek to increase their borrowing, they must first purchase additional stock to support the activity. FHLBanks are exempt from corporate federal, state, and local taxation, except for local real estate tax. The capital investments in FHLBanks receive preferential risk-weighting exemption treatment from the Basel II rules (which would normally require non-traded equity investments to be risk-weighted at 400%, but the exemption allows only 100%). The FHLBanks pay an assessment of 10% of annual earnings for affordable housing programs. The mission of the FHLBanks reflects a public purpose (increase access to housing and aid communities by extending credit to member financial institutions), but all 11 are privately capitalized and, apart from the tax privileges, do not receive taxpayer assistance.[citation needed]

Financial results and condition[edit]

Since August 2006, all 11 Banks have been registered with the United States Securities and Exchange Commission and all financial statements and other filings are available to the public at the SEC web site (EDGAR).

On August 5, 2011, the Federal Housing Finance Agency announced that the FHLBanks had satisfied their obligation to make payments related to the Resolution Funding Corporation (RefCorp) bonds. The Banks were required to pay 20 percent of their net income (after payments to the Affordable Housing Program) toward the RefCorp bond payments. Each Bank now pays 20% of its net income into its own separate restricted retained earnings account until the account equals one percent of that Bank's outstanding consolidated obligations.[2]

At December 31, 2014, each of the FHLBanks was in compliance with its statutory minimum capital requirements[3] and the FHLBank System as a whole was above its minimum capital requirements.[citation needed]

On March 27, 2015, the FHLBanks Office of Finance published the 2014 Combined Financial Report.[3] For 2014, the FHLBanks recorded net income of $2,245 million. Combined assets of the FHLBanks were $913.3 billion as of December 31, 2014. Of this total, advances equaled $571 billion. Investments were the second largest component at $267 billion. Mortgage loans held for portfolio were $44 billion. The FHLBanks made affordable housing contributions of $269 million in 2014.[citation needed]

The principal assets of the FHLBanks are advances (secured loans to members), mortgage loans held for portfolio, and other investments. The FHLBanks are required by regulation to hold collateral in excess of the actual loan amount for any given borrower. The FHLBanks are funded through the daily sale of debt securities in the global capital markets. All 11 FHLBanks are jointly and severally liable for the liabilities of each individual FHLBank.

History[edit]

As a result of the Great Depression the FHLBanks were established by the Federal Home Loan Bank Board (FHLBB) pursuant to the Federal Home Loan Bank Act of 1932. This was in order to provide funds to "building and loan" institutions, providing liquidity and making mortgages available.[citation needed]

Initially, the FHLBanks made direct loans to home owners, but transferred this responsibility to the Home Owners' Loan Corporation when it was created the following year.[4]

As a result of the savings and loan crisis of the 1980s the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) abolished the FHLBB and transferred oversight responsibility of the FHLBanks to the Federal Housing Finance Board (FHFB) and regulatory responsibility to the Office of Thrift Supervision (OTS) in the Department of the Treasury. FIRREA also allowed all federally insured depository institutions to join the FHLBank System, including commercial banks and credit unions.[citation needed]

As a result of the late-2000s financial crisis the Housing and Economic Recovery Act of 2008 (HERA) replaced the FHFB with the Federal Housing Finance Agency (FHFA). The Secretary of the Treasury was authorized to purchase FHLBank debt securities in any amount through December 31, 2009, after which the limit would return to the original $4 billion. On September 7, 2008, the U.S. Treasury announced a new credit facility for the three housing government-sponsored enterprises. This enabled the Secretary of the Treasury to purchase FHLBank debt in any amount subject to the pledging of advances and other assets as collateral. The authority for this facility expired on December 31, 2009.[citation needed]

As a result of the late-2000s recession, section 312 of the Dodd-Frank Wall Street Reform and Consumer Protection Act mandated merger of OTS with the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board of Governors, and the Consumer Financial Protection Bureau (CFPB) as of July 21, 2011.[citation needed]

Related legislation[edit]

See also[edit]

References[edit]

Further reading[edit]

External links[edit]

Banks[edit]

Источник: https://en.wikipedia.org/wiki/Federal_Home_Loan_Banks

Federal Home Loan Bank of Atlanta Declares a 3.70% Dividend for Third Quarter 2021

ATLANTA, Oct. 28, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of the Federal Home Loan Bank of Atlanta (FHLBank Atlanta) today approved a third quarter 2021 cash dividend at an annualized rate of 3.70 percent.

“Serving as trusted advisors and a reliable source of liquidity for our members remains FHLBank Atlanta’s primary focus,” said FHLBank Atlanta Chair of the Board, Rick Whaley. “The board of directors is pleased to provide this third quarter dividend to our members.”

The dividend rate is 3.65 percentage points over the daily average Secured Overnight Financing Rate, also known as SOFR, for the third quarter of 2021. The dividend will be calculated based on shareholders’ capital stock held during that period. The dividend will be credited to shareholders’ daily investment accounts at the close of business on November 2, 2021.

If you have questions, please contact FHLBank Atlanta’s Funding Desk at 1.800.536.9650, ext. 8011.

About FHLBank Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank’s members—its shareholders and customers—are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district Banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $7 billion in Affordable Housing Program funds, assisting more than 990,000 households.

For more information, visit our website at www.fhlbatl.com.

Some of the statements made in this announcement are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, which include statements with respect to the Bank's beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties, and other factors, many of which may be beyond the Bank's control, and which may cause the Bank's actual results, performance, or achievements to be materially different from the future results, performance, or achievements expressed or implied by the forward-looking statements.

The forward-looking statements may not be realized due to a variety of factors, including, without limitation: the impact of the COVID-19 pandemic on the Bank, its employees, members and counterparties, or on the capital markets and the U.S. economy, which impact is evolving and unknowable at this time and could include impacts to the Bank’s operations, liquidity, profitability, financial condition and results of operations, and dividend. Additional factors include legislative, regulatory and accounting actions, changes, approvals or requirements; uncertainties relating to the phase-out of LIBOR; future economic and market conditions (including the housing market); changes in demand for advances or consolidated obligations of the Bank and/or the FHLBank System; changes in interest rates; changes in prepayment speeds, default rates, delinquencies, and losses on mortgage-backed securities; volatility of market prices, rates and indices that could affect the value of financial instruments; changes in credit ratings and/or the terms of derivative transactions; changes in product offerings; political, national, and world events; disruptions in information systems; membership changes; and adverse developments or events affecting or involving other Federal Home Loan Banks or the FHLBank System in general. Additional factors that might cause the Bank's results to differ from these forward-looking statements are provided in detail in our filings with the Securities and Exchange Commission, which are available at www.sec.gov.

New factors may emerge, and it is not possible for us to predict the nature of each new factor, or assess its potential impact, on our business and financial condition. Given these uncertainties, we caution you not to place undue reliance on forward-looking statements. These statements speak only as of the date that they are made, and the Bank has no obligation and does not undertake to publicly update, revise, or correct any of the forward-looking statements after the date of this announcement, or after the respective dates on which such statements otherwise are made, whether as a result of new information, future events, or otherwise, except as may be required by law.

CONTACT: Peter E. Garuccio
Federal Home Loan Bank of Atlanta
[email protected]
404.888.8143


Источник: https://www.morningstar.com/news/globe-newswire/8382225/federal-home-loan-bank-of-atlanta-declares-a-370-dividend-for-third-quarter-2021

Deadline: 4/02/2020

Amount: $500,000 max

Website: https://corp.fhlbatl.com/who-we-are/news/fhlbank-atlanta-announces-availability-of-2020-ahp-competitive-funds/

Description:

The purpose of this program is to support the acquisition, construction, rehabilitation, and development of affordable housing targeted toward households earning at or below 80 percent of the area median income. Funding will be provided as gap financing in the form of subsidized advances and direct subsidies. Eligible projects must be proposed by a developer acting as the project sponsor and a member financial institution of the funding agency acting as the applicant.

Funding will support the following project categories:

  1. Owner-occupied projects: purchase, construction, or rehabilitation of an owner-occupied project by or for very low-, low-, or moderate-income households, with the scope of rehabilitation limited to the correction of defects or deficiencies in the structure or in access to the structure
  2. Rental projects: purchase, construction, or rehabilitation of rental projects in which at least 20 percent of the units are occupied by and affordable for very low-income households
Источник: https://joiningvisionandaction.com/funding-opportunities/federal-home-loan-bank-atlanta-affordable-housing-program/

Federal Home Loan Bank

Federal Home Loan Bank of Atlanta building is a 235,314 square foot Class A building located in the vibrant Midtown submarket. This quality eleven story office building offers superior skyline views as well as extensive on-site and nearby amenities. Access to Interstate-85 and Interstate-75 is quick and easy via multiple routes from The Federal Home Loan Bank of Atlanta building. A MARTA bus stop is located 200 ft. in front of the building and the Arts Center MARTA Station is 0.4 miles.

AMENITIES
• Building with 235,314 square feet
• Cafeteria and employee lounge
• State of the art exercise facility
• Security card access and door entry system
• 101 building digital cameras with recording devices and monitoring system
• Secure loading dock with entrance and exit gates
• Parking deck with 386 parking spaces
• One large training / meeting room
• Two meeting rooms with the option to connect to make one large meeting room
• Elevator Modernization completed in 2012

  • Property Type : Office
  • Class : A
  • Listing Size : 235,314
  • Year Built : 1986
  • Stories : 11
  • Typical Floor Size : 21,901
Источник: https://transwestern.com/property/federal-home-loan-bank

ATLANTA (April 6, 2021) — Federal Home Loan Bank of Atlanta (FHLBank Atlanta) and Truliant Federal Credit Union (Truliant) announced today that Truliant has become the first financial institution in the Southeast to complete a transfer of an electronic promissory note (eNote) to FHLBank Atlanta. The digital transaction was completed March 26 during a video conference call using Truliant’s DocMagic eVault and the Mortgage Electronic Registration Systems (MERS) eDelivery system.

The transfer was completed as part of FHLBank Atlanta’s eNote pilot program, which is intended to test the infrastructure necessary to allow a limited number of FHLBank Atlanta members to report eNotes as collateral. eNotes contain the same information as a traditional mortgage paper note, but they are created, signed, and stored digitally within an eVault with a tamper-seal to secure and authenticate the document.

In order for the transfer to be effective, Truliant met a series of standards relating to eSignatures, eNote documentation, eClosings, eRegistry requirements, eNote vault requirements, and servicing system requirements. These standards reflect the set of core requirements published by the 11 Federal Home Loan Banks in early 2020. Since 2017, the Federal Home Loan Banks have been working together to develop the many components necessary to allow their individual members to pledge eNotes and they are in various stages of accepting eNotes as collateral. The transfer of Truliant’s first eNote marks the launch of FHLBank Atlanta’s pilot program for accepting eNotes.

“This is the culmination of years of work by the state of North Carolina, FHLBank Atlanta and a dedicated team at Truliant,” said Todd Hall, President and CEO of Truliant. “Truliant completed its first end-to-end eClosing on March 27 of last year. So, literally, one year later we are the first member to deliver an eNote to FHLBank Atlanta. This final digital step makes the whole homebuying experience quicker, more accurate and secure.”

An eNote is a single, unique, unaltered, and digital version of the promissory note which must meet the requirements of electronic transactions laws. eNotes are a product of the rapidly growing mortgage eClosings process, a faster and more secure way for consumers to close their loan. eClosings help lenders streamline workflows, and create efficiency by removing manual steps in the closing process, helping them process loans more quickly.

“The transfer of this eNote is a significant milestone for FHLBank Atlanta,” said Rob Kovach, FHLBank Atlanta’s Chief Credit Officer. “Interest in the ability to pledge eNotes as collateral continues to grow among our members and this initial transfer demonstrates that we now have the ability to meet this growing demand. We appreciate Truliant for partnering with us to complete this transaction and create a path for more members to begin transferring eNotes at the end of our pilot program.”

When a closing is completed, the eNote is tamper-sealed and registered with the MERS eRegistry system, which also indicates the location of the authoritative copy. eNotes cannot be altered without the change being recorded on a digital audit trail, and the note cannot be lost.

About the Federal Home Loan Bank of Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank's members—its shareholders and customers—-are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $6.6 billion in Affordable Housing Program funds, assisting more than 957,000 households. For more information, visit our website at www.fhlbatl.com.

About Truliant Federal Credit Union
Truliant is a mission-driven, not-for-profit financial institution that promises to always have its member-owners’ best interest at heart. It improves lives by providing financial guidance and affordable financial services. Truliant was chartered in 1952 and now serves 270,000+ members. Truliant has more than 30 Member Financial Centers in North Carolina, South Carolina and Virginia.

Источник: http://greensborochamber.chambermaster.com/news/details/fhlbank-atlanta-and-truliant-announce-transfer-of-first-mortgage-enote
Get it on the App Store
Download the Bank of America App

Before you leave our site, we want you to know your app store has its own privacy practices and level of security which may be different from ours, so please review their policies.

Or we can text a download link directly to your phone

By providing your mobile number you are consenting to receive a text message. Text message fees may apply from your carrier. Text messages may be transmitted automatically.

Apple, the Apple logo, iPhone, iPad, Apple Watch and Touch ID are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.

Get it on the App Store
Download the Bank of America App

Before you leave our site, we want you to know your app store has its own privacy practices and level of security which may be different from ours, so please review their policies.

Or we can send you a link by email

Apple, the Apple logo, iPhone, iPad, Apple Watch and Touch ID are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.

Get it on Google Play
Download the Bank of America App

Before you leave our site, we want you to know your app store has its own privacy practices and level of security which may be different from ours, so please review their policies.

Or we can text a download link directly to your phone

By providing your mobile number you are consenting to receive a text message. Text message fees may apply from your carrier. Text messages may be transmitted automatically.

Android is a trademark of Google Inc. Samsung is a registered trademark of Samsung Electronics Co., Ltd.

Get the mobile banking app

Before you leave our site, we want you to know your app store has its own privacy practices and level of security which may be different from ours, so please review their polices.

Continue

We've sent you a download link

We sent an email with the download link to

We sent a text message with the download link to

We couldn't send the link

We're sorry we weren't able to send you the download link. Please try again, or use your mobile device to get the app from its app store.

Источник: https://www.bankofamerica.com/
federal home loan bank atlanta

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *