Latest news with #FHLBankSanFrancisco
Yahoo
2 days ago
- Business
- Yahoo
Federal Home Loan Bank of San Francisco Releases 2024 Impact Report
SAN FRANCISCO, June 04, 2025 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today released its 2024 Impact Report, which shines a spotlight on the privately capitalized cooperative wholesale bank's daily support for local financial institution members; $103.3 million in grants awarded for affordable housing, homeownership, and economic development; robust engagement with stakeholders; and a workforce empowered to meet the evolving needs of its members with agility and impact. 'Our 2024 Impact Report demonstrates the value we deliver to our members and the communities they serve,' said Joseph Amato, interim president and CEO of FHLBank San Francisco. 'Because of the financial services we provide to our members every day – including advances and letters of credit – we are able to invest directly in programs and initiatives that strengthen communities by increasing the supply of affordable housing, expanding access to homeownership, and fueling economic growth and opportunity.' In 2024, FHLBank San Francisco partnered with its members to award $103.3 million in grants for housing, economic development programs and other initiatives including: Affordable Housing Program (AHP) General Fund and Nevada Targeted Fund: $61.3 million in grants awarded to create, preserve, or purchase nearly 3,900 affordable housing units. WISH and Middle-Income Downpayment Assistance programs: $31.2 million in matching grants delivered to 791 first-time homebuyers. AHEAD economic development grants: $7.3 million in grants awarded to 84 nonprofits to support innovative, community-based economic development initiatives that strengthen local communities. FHLBank San Francisco members also accessed $1.4 billion in the Bank's discounted advances and letters of credit products to create nearly 1,100 owner-occupied and 2,900 rental housing units and to support other community lending and economic development activities, including funding small business loans. Together with its members – primarily community-based financial institutions – FHLBank San Francisco continues to make a positive impact across its three-state district of Arizona, California, Nevada, and other areas where its members do business. To learn more about how FHLBank San Francisco accomplishes its mission of providing members with reliable access to liquidity, essential financial services and expertise, and resources for housing and community and economic development, download the full 2024 Impact Report at About Federal Home Loan Bank of San Francisco The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — propel homeownership, finance quality affordable housing, drive economic vitality, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant and resilient. CONTACT: Contact: Mary Long longm@ (415) 616-2556 Chris Hammond hammondc@ (415) 616-3763Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
17-03-2025
- Business
- Associated Press
Nevada Governor Lombardo Applauds FHLBank San Francisco's $10 Million Affordable Housing Investment in the Silver State
SAN FRANCISCO, March 17, 2025 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) is deepening its commitment to increasing access to affordable housing and homeownership by investing in Nevada Housing Division Mortgage Revenue Bonds. Nevada Governor Joe Lombardo celebrates FHLBank San Francisco's investment in the state. 'Attainable homeownership for all Nevadans is one of my highest priorities and we can't do this alone,' said Governor Lombardo. 'The partnership and commitment of FHLBank San Francisco through this investment will give stability to many of Nevada's essential workers.' This $10 million investment strengthens FHLBank San Francisco's efforts to support low- and moderate-income homebuyers in the state of Nevada, which include downpayment assistance grant programs to support homebuyers. 'Our investment in Nevada Housing Division Mortgage Revenue Bonds allows us to reinforce our commitment to safe, affordable homes in Nevada while also delivering on our mission to provide reliable, low-cost liquidity and community investment resources to our member financial institutions,' said Joe Amato, interim president and CEO of FHLBank San Francisco. 'By working together with the Nevada Housing Division, we can strengthen communities in Nevada, foster economic growth and create a more vibrant and resilient future for all.' Supporting Home Affordability in Nevada Nevada has a severe shortage of affordable homes. The demand for more housing supply in the state has made it more difficult for Nevada residents to keep up with the housing market – both in buying and renting. The Nevada Housing Division Mortgage Revenue Bonds are highly rated investment securities (AA+ rating from S&P) backed by single-family mortgage-backed securities (MBS) that facilitate homeownership by supporting loans designed specifically for Nevada households aspiring to own a home. 'The Federal Home Loan Bank of San Francisco is uniquely positioned to address affordability issues for homebuyers in Nevada,' said Stephen Aichroth, Administrator of the Nevada Housing Division. 'We thank the Bank for their confidence in the Nevada Housing Division and their commitment to affordable homeownership for Nevadans.' FHLBank San Francisco is dedicated to supporting housing initiatives throughout its three-state region of Arizona, California, and Nevada. Since the Affordable Housing Program (AHP) was created in 1990, FHLBank San Francisco has awarded over $1.38 billion in AHP grants to support the construction, rehabilitation, or purchase of over 155,000 homes affordable to lower-income households, including $61.8 million in 2024 alone. Together, the 11 regional FHLBanks that make up the Federal Home Loan Bank System are one of the largest privately capitalized sources of grant funding for affordable housing in the United States. About the Nevada Housing Division The Nevada Housing Division, a division of the Department of Business and Industry, was created by the Nevada Legislature in 1975, with a mission to provide affordable housing opportunities and improve the quality of life for Nevada residents. They connect Nevadans with homes by providing financing to developers to build affordable housing, innovative mortgage solutions and down payment assistance programs and making homes more energy efficient, thereby lowering utility expenses. To learn more, visit About the Federal Home Loan Bank of San Francisco The Federal Home Loan Bank of San Francisco is a member-owned cooperative supporting local lenders in Arizona, California, and Nevada to build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — propel homeownership, finance quality affordable housing, drive economic vitality, and revitalize neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant and resilient. To learn more, visit
Yahoo
29-01-2025
- Business
- Yahoo
U.S. Rep. Nanette Barragán Joins Federal Home Loan Bank of San Francisco to Address Affordable Housing Crisis in Southern California
Devastating wildfires have exacerbated affordable housing crisis in the region SAN FRANCISCO, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Committed to prioritizing solutions for the affordable housing crisis in Southern California, U.S. Rep. Nanette Barragán, (CA-44) hosted a roundtable discussion with the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today at The Enclave in Torrance, California. The roundtable brought together affordable housing leaders, community organizations, financial institutions, and other stakeholders throughout the area to discuss how organizations and public-private partnerships could play a pivotal role in solving the housing crisis in Southern California after tens of thousands were displaced by the recent wildfires in the region. 'Many families in my district, and across Los Angeles County, struggle to afford housing,' said Rep. Nanette Barragán. 'This roundtable brings together key partners to explore solutions to increase housing supply, reduce costs, and expand opportunities for homeownership. Together, we can make real progress for our communities.' Rep. Barragán has a history of leading on issues related to affordable housing and has secured millions in federal funding for local projects that support affordable housing development, advance homeownership for first time homebuyers and expand supportive housing options. By teaming up with FHLBank San Francisco and its members, she is working to find local solutions to the housing crisis. 'This roundtable comes at a critical moment for our district, as many families and individuals have been displaced by the devastating wildfires in Los Angeles. We are proud to partner with Representative Barragán, a dedicated leader and tireless advocate for addressing the housing crisis in Southern California,' said Alanna McCargo, president and chief executive officer of FHLBank San Francisco. 'Collaboration is essential to develop innovative solutions that improve affordability, expand housing supply and support the rebuilding of communities impacted by these wildfires. Our Bank is a valuable and trusted community partner that can leverage an extensive network of member financial institutions to help turn these ideas into action.' In 2024, FHLBank San Francisco awarded $6.75 million in Affordable Housing Program (AHP) grants to support a range of projects in Los Angeles. Statewide, more than $49 million in AHP grants were awarded through its member financial institutions to help address and expedite solutions to California's affordable housing crisis. Attendees at the roundtable included: Dora Leong Gall, A Community of Friends Holly Benson, Adobe communities Andrea Parker, Farmers and Merchants bank Jeremy Empol, FHLBank San Francisco Anabel Cuevas, FHLBank San Francisco Darrell Simien, Habitat for Humanity LA Laura Archuleta, Jamboree Suny Lay Chang, LINC Housing Michael Ruane, National CORE Gerald Phillips, Neighborhood Housing Services of Los Angeles County Patricia Valladolid, One San Pedro/Century Housing Michael Faulwell, SchoolsFirst FCU Brent Terecero, SchoolsFirst FCU FHLBank San Francisco is dedicated to supporting housing initiatives throughout its three-state region, including Arizona, California, and Nevada. Since the Affordable Housing Program (AHP) was created in 1990, FHLBank San Francisco has awarded over $1.35 billion in AHP grants to support the construction, rehabilitation, or purchase of over 154,600 homes affordable to lower-income households, including $61.8 million in 2024 alone. Together, the 11 regional FHLBanks that make up the Federal Home Loan Bank System are one of the largest privately capitalized sources of grant funding for affordable housing in the United States. About the Federal Home Loan Bank of San Francisco The Federal Home Loan Bank of San Francisco is a member-owned cooperative supporting local lenders in Arizona, California, and Nevada to build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — propel homeownership, finance quality affordable housing, drive economic vitality, and revitalize neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant, equitable, and resilient. Contact: Tom Flannigan 415-616-2695Sign in to access your portfolio
