Good News for Banks, Buyers and YOU!

Good news for more community banks, REALTORS® and buyers. The Federal Home Loan Bank (FHLB) of Chicago will now issue Ginnie Mae securities. Read the news release for details.

This new authority given to the Federal Home Loan Bank of Chicago will open up mortgage liquidity for loans like FHA, VA and USDA for homebuyers throughout Illinois. Direct access to the secondary market through the FHLB allows smaller, community banks to offer these loans at more affordable pricing and expand options for their customers.

As a REALTOR®, this is great news, especially for your rural, first-time and military veteran buyers. Check with your local bank contacts to make sure they are taking advantage of this new option!

This entry was posted in Consumer Information, Housing Market by Sharon Gorrell, IAR Housing Policy Advisor. Bookmark the permalink.

About Sharon Gorrell, IAR Housing Policy Advisor

Sharon Gorrell is Housing Policy Advisor for the Illinois Association of REALTORS®. Through research and analysis she provides IAR leadership, committees, and governmental affairs staff well-informed expertise on local, state, and national housing policy issues and programs. Her work assists IAR in developing sound housing and housing finance policy positions and programs. She develops and maintains relationships with other associations, agencies and organizations that engage in the discussion and development of policies that affect housing and access to housing, and serves as the voice for and liaison of the REALTOR® organization to such groups. She serves as the IAR staff executive for the Housing Opportunity Working Group, Business Diversity Working Group, Federal Political Coordinators Working Group and Community Development Resource Working Group.