Let us help you prepare your Community Support Statement.
Approximately every two years, each FHLBank member must submit a Community Support Statement (CSS) to the Federal Housing Finance Agency (FHFA). FHLBank members selected for review must complete this statement on community support in order to maintain access to FHLBank advances with terms longer than one year. This includes the renewal of any maturing advance for a term to maturity greater than one year.
Section 10(g) of Federal Home Loan Bank Act [12 U.S.C. §1430(g)] sets forth community support requirements. Under the Federal Housing Finance Agency’s (FHFA) implementing community support regulation [12 C.F.R. part 1290], FHFA is required to take into account a Federal Home Loan Bank member's performance under the Community Reinvestment Act of 1977 [12 U.S.C. §2901 et seq.] (CRA) and its record of lending to first-time homebuyers, in determining whether to maintain the member’s access to long-term (maturity greater than one year) FHLBank advances.
The public may submit comments to the FHFA by March 31, 2017, regarding a member's community support performance.
Part I (CRA Standard):
Members subject to CRA. CRA Information- Institution's most recent federal CRA evaluation rating/date. [If your institution is not subject to CRA, indicate “NA” in CRA field on CSS form.]
Part II (First-time Homebuyer Standard):
All members, except those with "Outstanding" federal CRA ratings, must complete section A or B on CSS form. An institution may demonstrate assistance to first-time homebuyers in many ways. Complete Section A or B of CSS form. You may satisfy first-time homebuyer standard either by demonstrating adequate lending performance (Section A), or demonstrating participation in programs that assist first-time homebuyers (Section B).
FHLBank Topeka can assist you in preparing your CSS.
Please contact Randi Lutz, HCD Coordinator - Operations, at 866.571.8155 with any questions about the CSS process.