DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/1536040
MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 60 June 2025 J O U R N A L • Mandating at least 30 lease sales in the Gulf of America over the next 15 years and six in the Cook Inlet (pro- jected to generate billions of dollars in new revenue). • Returning to reasonable oil and natural gas royalty rates. • Requiring geothermal lease sales (projected to generate $23 million in new revenue). • Resuming leasing for energy pro- duction in the National Petroleum Reserve in Alaska and the Arctic National Wildlife Refuge (projected to generate $1 billion in new revenue and savings). • Resuming coal leasing on federal lands. • Increasing timber sales on federal lands and requiring long-term tim- ber contracts. • Rescinding various wasteful slush funds established under the Biden administration in agencies such as the National Oceanic and Atmo- spheric Administration, the National Park Service, and the Bureau of Land Management. • Investing in water infrastructure in the West. Providing funding to celebrate America's 250th anniversary, including establishing the National Garden of American Heroes. "Today, committee Republicans took decisive action and advanced our portion of the one big, beautiful reconciliation bill. We're generating more than $18.5 billion in new revenue and savings for the American people by unleashing the Unit- ed States' abundant natural resources," added Rep. Bruce Westerman, Chairman of the House Committee on Natural Resources. "These budgetary measures will deliver on President Trump's agenda to make our nation energy-dominant today and into the future. I'd like to thank all of our committee members for their tireless work on this legislation, and I look forward to supporting it through the legislative process." HOW THE FEDERAL HOME LOAN BANKS ARE SUPPORTING AFFORDABLE HOUSING T he Federal Home Loan Bank of Atlanta (FHLBank Atlanta) has released its Impact and Affordable Housing Advisory Council (AHAC) Report, detailing the organi- zation's highest year of funding to date for affordable housing and community development. The Impact and Affordable Housing Advisory Council (AHAC) Re- port also outlines the widespread reach of FHLBank Atlanta's lending products for member institutions and the community investment programs positively impacting its district in 2024. "We are proud of our work to provide nearly 800 financial institutions with access to funding to support local lend- ing for small businesses, mortgages, and community development projects," said Kirk Malmberg, President and CEO of FHLBank Atlanta. "Additionally, each year we work with members to ensure we offer affordable housing grant programs that address current needs. For 2024, this resulted in the introduction of Workforce Housing Plus+, a new initiative to provide downpayment assistance to a broader population of borrowers challenged by the rising cost of homes and high interest rates." The report found that the FHLBank Atlanta contributed a record $120 million in grants for affordable housing and community development in 2024, in addition to: • $55 million distributed through the Affordable Housing Program (AHP) General Fund, supporting 66 projects that will create or rehabilitate more than 4,200 affordable housing units • $40 million distributed through the AHP Homeownership Set-aside Program, providing homeownership grants to more than 3,000 households for downpayment, closing cost, and home rehabilitation assistance • $20 million distributed through the Workforce Housing Plus+ program, providing downpayment and closing cost assistance to more than 1,300 households • $5.9 million in total allocated to 21 organizations addressing heirs' property issues to help more than 5,000 families protect their assets and build generational wealth • $1 billion in Community Investment Program advances to support hous- ing and economic development • $250,000 donated to the American Red Cross for recovery efforts fol- lowing Hurricane Helene • 48 forums attended to promote financial literacy and homeownership knowledge sharing across the FHL- Bank Atlanta district "FHLBank Atlanta continues to remain a reliable source of lending for members, allowing us to deliver on our purpose of earning trust, building relationships, and bettering lives," said Tomeka Strickland, SVP and Director of Community Investment Services of FHLBank Atlanta. "The record amount of grant funding we distributed last year is a direct reflection of our collaboration with members and commitment to our communities, and we look forward to strengthening these partnerships in 2025 to continue investing in the neighbor- hoods our members serve." FHLBank Chicago Issues $50M-Plus in New Grants In other FHLBank news, the Federal Home Loan Bank of Chicago (FHLBank Chicago) has opened its application period for its 2025 Affordable Housing Program (AHP) General Fund. With $52 million available and up to $2 million per project, the program continues to advance the development and preservation of affordable housing throughout Illinois and Wisconsin.