Support the Housing and Community Development Mission of the FHLBNY
The Federal Home Loan Bank of New York (FHLBNY) is now accepting nominations for the FHLBNY’s Affordable Housing Advisory Council (Council). Nominations must be made by completing the nomination form and submitting it, along with the nominee’s resume or biographical statement, to the Bank by the close of business on Wednesday, October 31, 2018, in order to be considered. All nominees will be informed of the results of the nomination process by December 31, 2018.
- The Council’s role is to advise the FHLBNY’s staff and the Housing Committee of the FHLBNY’s Board of Directors on ways in which it can support the housing and community development mission.
- The Council meets with members of the Board of Directors and Management on at least a quarterly basis.
FHLBNY is currently seeking to fill vacancies on the Council with representatives serving the following areas:
- Long Island,
- Southern New Jersey and
- Mid/Upstate New York areas.
Please take the time to submit the names of appropriate potential candidates who are willing and committed to advising the FHLBNY in meeting its housing and community development mission. If you have any questions about the Council or the nomination process, please contact Daniel Randall, Affordable Housing Business Development Officer at 212-441-6876.
- FHLBNY helps community lenders in New Jersey, New York, Puerto Rico and the U.S. Virgin Islands advance housing and community growth.
- The FHLBNY is part of the congressionally chartered, nationwide Federal Home Loan Bank System, which was created in 1932 to provide a flexible credit liquidity source for member community lenders engaged in home mortgage and neighborhood lending.
- The FHLBNY increases the availability of mortgages and home finance to families of all income levels by offering high-value correspondent and cash management services to assist our members in more effectively serving their neighborhoods and meeting their Community Reinvestment Act responsibilities.
The mission of the FHLBNY is to advance housing opportunity and local community development by supporting members in serving their markets. The FHLBNY meets its mission by providing its members with access to economical wholesale credit and assistance through our credit products, mortgage finance program, housing and community lending programs, and correspondent services to increase the availability of home finance to families of all incomes.
- Each year since 1990, the HLB has set aside 10% of its private earnings to support the creation and preservation of housing for lower income families and individuals through the Affordable Housing Program (AHP).
- AHP funds are awarded to members who submit applications on behalf of project sponsors who are planning to purchase, rehabilitate, or construct affordable homes or apartments.
- Funds are awarded through a competitive process which typically takes place either once or twice a year, at the HLB’s discretion.