FDIC updates affordable mortgage lending guide info on GSEs

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)

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