Dear Community Investment Partner:
The Bank is pleased to inform you that our sample Affordable Housing Program (AHP) retention documents (Promissory Note and Rider to Deed of Trust) and corresponding Direct Subsidy Agreements for both the competitive and set-aside programs have been revised. The revisions include incorporating requirements for FHA-insured mortgages used in connection with the AHP subsidy.
The new sample retention documents and revised AHP Direct Subsidy Agreements are now available on our website at fhlbsf.com and can be downloaded at the links listed below.
Sample retention documents (owner-occupied and rental projects):
AHP Procedures: Compliance Monitoring
Direct Subsidy Agreements:
AHP Direct Subsidy Agreement – Rental Project
AHP Direct Subsidy Agreement – Owner-occupied Project
Sample retention documents:
Direct Subsidy Agreement:
AHP Direct Subsidy Agreement – Homeownership Set-Aside Program
Please email the Community Investment Department or call (415) 616-2542 if you have any questions.
Vice President, Community Lending
Community Investment Department