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Federal Home Loan Bank of Ny

Bank Of America Minority Home Loan Settlement - $335 Million

Bank Of America has agreed on a $335 million dollar settlement after claims that it's Countrywide Financial unit gave higher interest rate ...

City considers designated developer for supportive housing on Broadway

A New York City-based national nonprofit provider of homeless and low-income housing is seeking to undertake its third project on Buffalo's East Side – and second in two years – to provide 60 more units of subsidized apartments for its core clientele.

City officials are considering whether to name HELP USA's HELP Development Corp. as "designated developer" for one year for a vacant city-owned lot at 330 Broadway, which the developer would acquire based on a fair-market appraisal. That would create a cluster of HELP properties within a two-block area.

According to city documents, the nonprofit's $20.2 million proposal involves the construction of a five-story concrete plank and wood-frame building, with "supportive housing" units aimed at homeless individuals and low-income families who need affordable places to live.

The project, dubbed HELP Buffalo III, would feature 31 one-bedroom, 20 two-bedroom and nine three-bedroom apartments, as well as a community room with a warming kitchen, on-site laundry, a children's playground, an outdoor garden space, management and supportive services offices, and on-site parking.

MPF® Program implements Portfolio Producer from LoanScorecard

, A leading provider of automated underwriting and compliance solutions, announced today that the Mortgage Partnership Finance® (MPF) Program of the Federal Home Loan Bank System has implemented LoanScorecard’s Portfolio Producer™ product and pricing engine (PPE) and distribution solution. The implementation enables the MPF Program to provide its products and pricing to Participating Financial Institutions (PFIs) at no additional cost.

The Federal Home Loan Banks (FHLBanks) are member-owned cooperatives that provide funding solutions and liquidity to over 7,000 members that support mortgage lending, economic development, and affordable housing in the communities they serve. Members include community and commercial banks, credit unions, insurance companies, thrifts, and community development financial institutions in all 50 states, U.S. possessions, and territories.

With Portfolio Producer, PFIs can share loan file data with their FHLBank via their loan origination system (LOS). The FHLBank uses that data to determine and distribute real-time loan scenario-specific products and pricing, as well as provide applicable loan-level price adjustments (LLPAs) based on loan characteristics, delivery commitment, and remittance options—all without having to leave their LOS. Selected product, price, and LLPAs are then written back to the loan file.

Why did Bush ask/order fannie mae to make 440 BILLION in home loans to minorities in 2002?

I keep seeing the same lies being posted by republicans.
The govt can not force a bank to make a risky loan.
Republicans controlled congress 12 years from Jan 1995 to Jan 2007. They write or change the laws that banks have to follow.

Are you crazy.......He did not. That was all the Democrats doing. Check out what Maxine Waters said when Bush wanted oversight of FM&FM. Don't be so stupid. Research it.