 | | Federal Home Loan Bank of Chicago | Community Investment Newsletter | June 2017 | |
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 | | News |
| Cinnaire Named Community First® Fund Partner | | In June, the FHLBC announced that Cinnaire Lending Corporation, an FHLBC member and certified community development financial institution, was named a partner of the Community First Fund and is a recipient of a $3 million, 10-year loan. Click here to read the press release. |
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| DPP® Proving Popular Once Again | | The FHLBC opened its Downpayment Plus® (DPP) programs on March 13 with an allocation of $13.3 million. Since then, participating members have reserved approximately $6.3 million (48%) on behalf of more than 1,000 households. In 2017, each participating member may access up to $420,000 on a first-come, first-served basis until the allocation has been reserved. Please contact 312-565-5824, option 1, or dpp@fhlbc.com with any questions. |
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| DPP Marketing Brochure Now Available in French | | As part of an ongoing effort to help our members meet the needs of the diverse communities and populations they serve, the FHLBC is pleased to make the customizable DPP marketing brochure available in French. Click here to access the brochure in English, Hmong, Polish, Spanish, and now French. |
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| Capacity-Building Grant Program Update | | FHLBC announced the Community First® Capacity-Building Grant Program on March 14. Between April 3 and May 5, 13 member institutions submitted 22 applications on behalf of qualifying nonprofit community development loan funds and community development financial institutions. Following initial review, the FHLBC will request additional information from select applicants and award recipients will be announced in August. |
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| Disaster Relief Program Update | | In September 2016, the FHLBC allocated $500,000 to its Community First® Disaster Relief Program to assist member institutions and their communities affected by FEMA-declared disasters in central and northern Wisconsin. Upon closing the response to these disasters on April 21, $378,400 was awarded through 76 grants: 58 for housing-related damages and 18 for small business-related damages. |
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| FDIC Affordable Mortgage Lending Resources | | The Federal Deposit Insurance Corporation’s (FDIC) Affordable Mortgage Lending Center is a resource for community banks to compare current affordable mortgage programs and to identify next steps if they seek to expand or initiate affordable mortgage lending. The Affordable Mortgage Lending Guide provides descriptions of various mortgage lending programs, and the recently released Part III specifically focuses on the products and services offered by the Federal Home Loan Banks. We encourage you to review this valuable resource and share it with others as appropriate. |
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| June is National Homeownership Month | The FHLBC is proud to invest in programs that support homeownership. Last year, we assisted more than 2,800 homebuyers and homeowners through our Downpayment Plus programs and our competitive Affordable Housing Program. Additionally, the Mortgage Partnership Finance® (MPF®) Program purchased 54,000 mortgages from members of nine Federal Home Loan Banks in support of homeownership across their districts.
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 | | Advisory |
| Advisory Council Spotlight: Sean O’Brien, Director, Commercial Lending, Wisconsin Housing and Economic Development Authority | In this Advisory Council Spotlight, we introduce Sean O’Brien, Director, Commercial Lending for the Wisconsin Housing and Economic Development Authority (WHEDA). WHEDA, which is currently celebrating its 45th anniversary, provides financing in support of single-family homeownership, affordable multi-family housing, small business, and agricultural development throughout Wisconsin.
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 | | Calendar |
| FHLBC In Your Community | | View photos from recent events attended by FHLBC staff. |
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| Upcoming Events | | June 15 | Illinois Housing Council’s Summer Mixer | | Chicago, IL | Attending | | July 19-20 | Wisconsin Collaborative for Affordable Housing’s A Home for Everyone Conference | | La Crosse, WI | Attending and Sponsoring | | July 20 | Illinois Housing Council’s Networking Breakfast | | Chicago, IL | Attending | | September 12 | WHEDA’s Annual Conference | | Madison, WI | Attending, Exhibiting, and Sponsoring | | September 14 | Illinois Housing Council’s Fall Mixer | | Chicago, IL | Attending | | September 26-28 | Opportunity Finance Network’s Conference | | Washington, DC | Attending | | October 3-4 | WHEDA’s Homeownership Conference | | Wisconsin Dells, WI | Attending, Exhibiting, Presenting, and Sponsoring | | October 26-27 | Housing Action Illinois’s 2017 Housing Matters! Conference | | Bloomington, IL | Attending and Sponsoring | |
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| Jefferson Street Apartments |
Location: Ripon, Wisconsin
AHP award: $204,000
Member: National Exchange Bank & Trust
Sponsor: Commonwealth Management Corporation |
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Federal Home Loan Bank
of Chicago |
200 East Randolph Drive
Chicago, IL 60601
www.fhlbc.com |
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.
Copyright © 2017, Federal Home Loan Bank of Chicago. "Community First," "Downpayment Plus," "DPP," "Downpayment Plus Advantage," and "DPP Advantage" are registered trademarks of the Federal Home Loan Bank of Chicago.
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