![]() ![]() RTC Affordable Housing Disposition Program IDENTIFIER: RTC Affordable Housing Program TITLE: Housing Finance: Improving the Federal Home Loan Bank Run, and (3) whether opportunities exist to improve the program as a Support affordable housing initiatives, (2) how the program has been This report examines (1) how program funds have been used to Very low, low, and moderate incomes and directed GAO to evaluate this The Financial Institutions Reform, Recovery, and EnforcementĪct of 1989 required that the Federal Home Loan Bank System establish anĪffordable Housing Program to help finance housing for households with Has prompted Congress to expand the capital available to finance such Housing Program (Chapter Report, 06/09/95, GAO/RCED-95-82).ĭecent and affordable housing for every American family has been a goal Our online platform, Wiley Online Library () is one of the world’s most extensive multidisciplinary collections of online resources, covering life, health, social and physical sciences, and humanities.Housing Finance: Improving the Federal Home Loan Bank System's Affordable Housing Program Housing Finance: Improving the Federal Home Loan Bank System's Affordable With a growing open access offering, Wiley is committed to the widest possible dissemination of and access to the content we publish and supports all sustainable models of access. ![]() Wiley has partnerships with many of the world’s leading societies and publishes over 1,500 peer-reviewed journals and 1,500+ new books annually in print and online, as well as databases, major reference works and laboratory protocols in STMS subjects. Wiley has published the works of more than 450 Nobel laureates in all categories: Literature, Economics, Physiology or Medicine, Physics, Chemistry, and Peace. has been a valued source of information and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Our core businesses produce scientific, technical, medical, and scholarly journals, reference works, books, database services, and advertising professional books, subscription products, certification and training services and online applications and education content and services including integrated online teaching and learning resources for undergraduate and graduate students and lifelong learners. Wiley is a global provider of content and content-enabled workflow solutions in areas of scientific, technical, medical, and scholarly research professional development and education. The case illustrates the usefulness of the behavioral-choice paradigm for understanding change in public agencies and suggests legitimacy for mission change and the value of maintaining publicly directed administrative capacity. These were implemented to different extents in individual FHLBs in response to local needs. Responding to the general interest in preserving small banks' viability, legislative entrepreneurs advanced permissive rule changes. Recognizing the FHLBs' usefulness, community bankers sought a more fundamental change in their practice. Change began when expert attention was directed to small banks in rural areas and officials innovated within the existing rules to address their needs. Why did their mission expand in this direction? We argue that mission expansion is a process that is better understood in terms of behavioral choice than public choice. Recently, three views of their mission have emerged one is that their purpose is to help small banks to remain viable. Congress established the Federal Home Loan Banks (FHLBs) in 1932 to pursue the public purpose of homeownership.
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