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Revised: Updated Reference Materials Now Available | |
September 2, 2016 Two Federal Home Loan Bank of Chicago publications have recently been updated and posted to our website. Users: Members and sponsors with competitive Affordable Housing Program (AHP) awards Effective: Immediately Summary of update: The Guide for Project Management has been updated to include instructions for submitting an extension request for a competitive AHP award. As it did previously, the guide also includes instructions on how to change a sponsor contact on an award and how to initiate and submit a disbursement request. Users: Members and sponsors with competitive AHP awards; members participating in the Downpayment Plus® (DPP®) programs Effective: For income calculations performed on or after October 1, 2016, for beneficiaries (i.e., homebuyers and homeowners) of AHP or DPP subsidies and tenants applying to, or being re-certified in, a rental project with AHP subsidy REVISED SUMMARY OF UPDATE: A single, standard approach now applies to calculating income for both the competitive AHP and DPP programs. When using a verification of employment to document income, the Fannie Mae Verification of Employment (VOE) form or equivalent is now required. Additionally, the enrollment date is now defined as the date the member and/or sponsor is determining the income eligibility of the household. Please contact Community Investment at 312-565-5824 or ci@fhlbc.com with any questions.
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| Federal Home Loan Bank of Chicago | |
| 200 East Randolph Drive Chicago, IL 60601 www.fhlbc.com |
Copyright © 2016, Federal Home Loan Bank of Chicago. "Downpayment Plus" and "DPP" are registered trademarks of the Federal Home Loan Bank of Chicago. |
| This newsletter contains forward-looking statements which are based upon our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as “anticipates,” “believes,” “expects,” “could,” “plans,” “estimates,” “may,” “should,” “will,” or their negatives or other variations on these terms. We caution that, by their nature, forward-looking statements involve risk or uncertainty, that actual results could differ materially from those expressed or implied in these forward-looking statements, and that actual events could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, the risk factors set forth in our periodic filings with the Securities and Exchange Commission, which are available on our website at www.fhlbc.com. We assume no obligation to update any forward-looking statements made in this newsletter. | |
