 | | Federal Home Loan Bank of Chicago | Community Investment Newsletter | June 2019 | |
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 | | News |
| Learn More About Community Lending: Attend Our Webinar on June 27 | | The Community Investment staff joins the FHLBank Chicago Member Strategy and Solutions team on the June 27 Weekly Market Update webinar. This special webinar will focus on FHLBank Chicago’s community lending programs, including: the Community Development Advance, Community Housing Advance, and Community Small Business Advance. By attending this webinar, FHLBank Chicago members will learn how these products can support their affordable housing and economic development lending goals. Register now. Be sure to select the June 27 date from the drop down menu when registering. |
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| Joint Meeting in Milwaukee | | The FHLBank Chicago’s annual joint meeting of its Board of Directors and Community Investment Advisory Council was held on June 3 in Milwaukee, Wisconsin. Highlights included a tour of the Gerald L. Ignace Indian Health Center, a nonprofit community clinic dedicated to the health and well-being of Milwaukee’s Native American population, and remarks from the Honorable Tom Barrett, Mayor of Milwaukee. |
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| Welcome New Faces to Community Investment | | The Community Investment Group is excited to welcome three interns (pictured left to right): Karina Pekala, Alexis Stein, and Alex Koerner. Karina is an undergraduate at Dominican University; Alexis is a recent graduate of the Masters in Urban Planning and Policy (MUPP) program at the University of Illinois at Chicago’s (UIC); and Alex is a MUPP student at UIC. Alexis and Alex will support competitive AHP application review and Karina will assist with Downpayment Plus Program operations. Welcome to the team! |
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| IMBA Recognizes Sharon Legenza | | The Illinois Mortgage Bankers Association (IMBA) recently awarded Sharon Legenza, a member of the FHLBank Chicago’s Community Investment Advisory Council, with their 2019 Affordable Housing Leadership Award. This award honors individuals and organizations who have demonstrated achievement in increasing affordable housing opportunities throughout the state. Congratulations, Sharon! |
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| June Is National Homeownership Month | | The FHLBank Chicago is proud to invest in programs that support homeownership. Last year, we assisted more than 3,600 homebuyers and homeowners through our Downpayment Plus programs and our competitive Affordable Housing Program. Additionally, the Mortgage Partnership Finance® (MPF®) Program purchased more than 59,000 mortgages from 900 members of nine Federal Home Loan Banks nationwide in support of homeownership across their districts. |
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 | | Policy Corner |
| HUD Mortgagee Letters and Down Payment Assistance | | The FHLBank Chicago published a Community Investment Advisory in response to the U.S. Department of Housing and Urban Development’s (HUD's) recent Mortgagee Letters, which set forth updated documentation requirements for down payment assistance provided by governmental entities used in conjunction with Federal Housing Administration-insured mortgage loans, and subsequently extended their effective date until July 23, 2019. Read the advisory for more information. |
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| 2019 HUD Income Limits Now Available | | HUD has released income limits for 2019. Effective May 3, these limits are used to determine income eligibility for the competitive Affordable Housing Program and DPP programs. New income limits are also available for Community Advances. Visit our HUD Income Guidelines webpage for more information and resources. |
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 | | Calendar |
| Upcoming Events | | June 18–19 | Opportunity Finance Network’s Small Business Finance Forum | | Chicago, IL | Attending | | June 20 | Community Investment Corporation’s 5th Annual Neighborhood Forum | | Chicago, IL | Attending | | June 27 | Illinois Housing Council’s Summer Mixer | | Chicago, IL | Attending | | July 17–18 | The Wisconsin Collaborative for Affordable Housing’s A Home for Everyone Conference | | Eau Claire, WI | Attending, Exhibiting, and Sponsoring | | September 19 | Illinois Housing Council’s Fall Mixer | | Chicago, IL | Attending | | September 19 | Accion’s Taste of Accion | | Chicago, IL | Attending | | September 25 | Wisconsin Housing and Economic Development Authority’s Annual Conference | | Madison, WI | Attending, Exhibiting, and Sponsoring | |
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| Layton Square |
Location: Cudahy, Wisconsin
AHP award: $750,000
Member: First American Bank
Sponsor: Midwest Affordable Housing Corp.
Photo courtesy of Midwest Affordable Housing Corp. |
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| FHLBank Chicago in Your Community |
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| View photos from events attended by FHLBank Chicago staff. |
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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 © 2019, Federal Home Loan Bank of Chicago. "Community First," "Downpayment Plus," "DPP," "Downpayment Plus Advantage," "DPP Advantage," "Mortgage Partnership Finance," and "MPF" are registered trademarks of the Federal Home Loan Bank of Chicago.
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