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A message from President and CEO Teresa Bryce Bazemore: At FHLBank San Francisco, our aim is to change lives for the better — a goal that we pursue through our dual mission of providing critical liquidity to our members and resources for affordable housing, homeownership, and economic development. Our inaugural Impact Report highlights how we delivered on this mission in 2022, positively impacting people, businesses, and communities across our district ...

SANTA BARBARA, Calif., November 28, 2023 – Today, Congressman Salud Carbajal (CA-24) announced that $550,000 in downpayment assistance grants for middle-income home buyers are being awarded to first time homebuyers on California’s Central Coast through the Federal Home Loan Bank of San Francisco (FHLBank San Francisco). The 11 awards for Central Coast home buyers come from a new pilot program provided through the federal-backed bank to support aspiring California homeowners ...

Washington, D.C., November 17, 2023 – Today, Congressman Doug LaMalfa (R-Richvale) announced that $750,000 in down payment assistance grants for middle-income home buyers has been awarded to hard-working individuals and families in California’s 1st District. This private funding, not via taxpayer dollars, provided through a pilot program designed and funded by the Federal Home Loan Bank of San Francisco, will award 15 $50,000 grants to California's First District and 22 ...

SAN FRANCISCO, Nov. 17, 2023 - The Federal Home Loan Bank of San Francisco today announced the results of its 2023 director elections. FHLBank San Francisco members elected Laura Archuleta and Silvio Tavares to two open nonmember independent director positions. Laura Archuleta, President and CEO, Jamboree Housing Corporation As President and CEO of Jamboree Housing Corporation, a nonprofit housing development company, Ms. Archuleta leads the development, acquisition, renovation, and management ...

SAN FRANCISCO, November 9, 2023 – Teresa Bryce Bazemore, president and CEO of Federal Home Loan Bank of San Francisco (FHLBank San Francisco), accepted the “2023 Financial Woman of the Year” award from Financial Women of San Francisco on Tuesday, Nov. 7. Announced in April this year, the honor was formally bestowed at a luncheon at the Hyatt Regency Embarcadero, and the event provided an opportunity for Bazemore to share ...

FHLBank San Francisco and Urban Institute collaboration delves into evolving role of AI in mortgage finance industry, issues recommendations for pursuing equitable outcomes SAN FRANCISCO and WASHINGTON, November 6, 2023 – The Black-white homeownership gap is wider today than it was in 1960, sitting at nearly 30 percentage points, and the rapid adoption of Artificial Intelligence (AI) puts the mortgage finance industry at a crossroads. A new research paper titled ...

LAS VEGAS, October 31, 2023 — In a significant effort to address and solve the pressing issue of housing affordability in Nevada, Congresswoman Susie Lee (NV-03) convened with the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) for a roundtable discussion today in Las Vegas, Nevada. The roundtable – which brought together leaders in affordable housing, community organizations, financial institutions, and others across the state – is an ...

SAN FRANCISCO, October 26, 2023 — The Federal Home Loan Bank of San Francisco (Bank) today announced its third quarter 2023 operating results. Net income for the third quarter of 2023 was $103 million, an increase of $23 million compared with net income of $80 million for the third quarter of 2022. “The Bank continues to serve a critical role in providing on-demand liquidity to more than 300 member institutions ...

Mission First has accessed more than $15 million in grants in support of affordable housing from four Federal Home Loan Banks Philadelphia, PA, October 12, 2023 – In 1999, Mission First Housing Group (“Mission First”) was awarded its first Affordable Housing Program (“AHP”) grant from a Federal Home Loan Bank (“FHLBank”) – receiving a $465,000 grant from FHLBank Atlanta to help build 78 affordable apartments in the Fox Chase neighborhood ...

SAN FRANCISCO, October 4, 2023 – With racial inequity at a crisis level in the United States, the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) has released a package of recommendations for updating the housing ecosystem to close the racial homeownership and wealth gaps. "Closing the Racial Equity Gap: A Call to Action" is an historic first for a Federal Home Loan Bank. The result of a ...

SAN FRANCISCO, October 2, 2023 — A largely behind-the-scenes network of wholesale banks is making a difference for households from coast to coast. While borrowers may not know the name, the Federal Home Loan Bank System (FHLBank System) is very well known among the local lenders — whether it’s a commercial bank, credit union or savings institution — that consumers turn to for financial products and services. These “Banks for ...

SAN FRANCISCO, September 20, 2023 – The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today announced it has doubled its commitment for its groundbreaking and successful Empowering Black Homeownership matching grant program, making an additional $2 million available to help expand the capacity of HUD-approved housing counseling agencies (HCAs) to serve more aspiring and at-risk homeowners in communities of color. This year's funding represents a 100% increase ...

SAN FRANCISCO, Sept. 12, 2023 – The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) has awarded $4 million in AHEAD economic development grants to help 75 local organizations boost economic opportunity in underserved communities throughout Arizona, California, and Nevada. The grants, delivered through FHLBank San Francisco member financial institutions, are aimed at advancing innovative economic and community development initiatives that bring greater opportunity to underserved populations. The ...

Los Angeles, August 28, 2023 – The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) and Congresswoman Sydney Kamlager-Dove (CA-37) today celebrated the grand opening of Washington View Apartments in Los Angeles, which provides 122 newly built residences for senior citizens, with 91 units reserved for formerly unhoused residents. To support the project and bring it to life, FHLBank San Francisco awarded a $1 million Affordable Housing Program ...

SAN FRANCSISCO, August 7, 2023 – Speaking at the 75TH annual convention of the National Association of Real Estate Brokers (NAREB) in Houston last week, Teresa Bryce Bazemore, president and chief executive officer of the Federal Home Loan Bank of San Francisco (FHLBank San Francisco), credited the organization with playing a critical role in advancing homeownership for African Americans, and other families in marginalized communities across the country. “With various ...

SAN FRANCISCO – August 2, 2023 – The Federal Home Loan Bank of San Francisco announced today that its board of directors has formed a Search Committee, chaired by Director Brian Riley, to identify a new Bank president and chief executive officer to commence in the role at the end of Teresa Bryce Bazemore’s term, which is expected to occur on March 14, 2024. “This decision followed extensive deliberation and ...

The Federal Home Loan Bank System was created to help provide a reliable and readily accessible flow of liquidity to member financial institutions. For more than 90 years, this foundational liquidity mission has driven everything that the Federal Home Loan Banks have achieved for our cooperatives, for our members, and for the communities we serve. The Federal Home Loan Banks’ inaugural Corporate Social Responsibility Report focuses on how we help ...

SAN FRANCISCO, July 27, 2023 — The Federal Home Loan Bank of San Francisco (Bank) today announced second quarter 2023 operating results. Net income for the second quarter of 2023 was $121 million, an increase of $73 million compared with net income of $48 million for the second quarter of 2022. “The Federal Home Loan Bank of San Francisco continues to play an important and irreplaceable role in providing critical ...

San Francisco, July 19, 2023 – Teresa Bryce Bazemore, President and CEO of The Federal Home Loan Bank of San Francisco (FHLBank San Francisco), in a keynote speech today at the 25th Anniversary of the African American Credit Union Coalition’s (AACUC) Annual Conference in Atlanta, Georgia, applauded the credit union industry for its support in closing the racial homeownership and wealth gap. Bazemore’s speech was titled Advancing Racial Equity: Increasing ...

San Francisco, July 11, 2023 – The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today announced $2 million in Affordable Housing Program (AHP) grants have been awarded to fund two important projects that will create 142 units of affordable housing for seniors in Arizona. FHLBank San Francisco is the largest privately-owned source of affordable housing funding within its region – comprising Arizona, California, and Nevada – and ...

San Francisco, July 11, 2023 – The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today announced it awarded over $26 million in Affordable Housing Program (AHP) grants to fund 30 projects that will create 2,420 units of affordable housing in California. FHLBank San Francisco is the largest privately-owned source of affordable housing funding within its region – comprising California, Arizona, and Nevada – and collectively with the ...

San Francisco, July 10, 2023 – The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today announced $4.8 million in affordable housing grants to Nevada-based groups through its newly established Affordable Housing Program (AHP) Nevada Targeted Fund. This Targeted Fund – a first of its kind in the country – is an important component of the Bank’s AHP and represents a significant commitment to addressing the critical shortage ...

San Francisco, July 10, 2023 – The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today announced $32.9 million in Affordable Housing Program (AHP) grants have been awarded to fund 38 projects that will create 2,825 units of affordable housing throughout Arizona, California, and Nevada. FHLBank San Francisco is the largest privately-owned source of affordable housing funding in its three-state area and collectively with the other Federal Home ...

LOS ANGELES, June 28, 2023 – Federal Home Loan Bank of San Francisco (FHLBank San Francisco), a leading provider of affordable housing grants to organizations across the region, today applauded the groundbreaking for 380 housing units for at-risk veterans and their families to be constructed in West Los Angeles Veterans Affairs Campus buildings. The new housing was celebrated at an event yesterday attended by local public officials and dignitaries including ...

SAN FRANCISCO and WASHINGTON, June 22, 2023 – Efforts to close the persistent and detrimental Black-white homeownership gap, currently at 30 percentage points, must include not only measures to decrease the barriers to Black homeownership opportunity, but also mechanisms to ensure that homeownership is sustainable once achieved. Mortgage reserve accounts are among the innovative solutions that could help homeowners overcome temporary hardships and get back on track with their mortgage ...

SAN FRANCISCO, June 6, 2023 – The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) announced today the appointment of Jennifer Schachterle as Senior Vice President, Sales and Business Development, effective June 1, 2023. In this position, Ms. Schachterle oversees FHLBank San Francisco’s relationships with its nearly 330 member financial institutions across its three-state district of Arizona, California, and Nevada, leading a team dedicated to sales, business development ...

SAN FRANCISCO, May 11, 2023 – The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) announced today an inaugural $10 million Middle-Income Downpayment Assistance matching grant pilot program to help make the American dream of owning a home a reality for middle-income families and individuals. Aimed at providing an innovative solution that fosters homeownership – an increasingly greater struggle for middle-income households squeezed by high interest rates and ...

SAN FRANCISCO, May 2, 2023 – Federal Home Loan Bank of San Francisco (FHLBank San Francisco) announced today that it will allocate $4 million to its annual AHEAD economic development grant program, representing an increase of over 160% compared to the program’s funding in 2022. Initiated in 2004, AHEAD grants are made to organizations that are creating economic opportunity through innovative and targeted initiatives that benefit underserved communities. This substantial ...

SAN FRANCISCO, April 27, 2023 — The Federal Home Loan Bank of San Francisco (Bank) today announced first quarter 2023 operating results. Net income for the first quarter of 2023 was $195 million, an increase of $117 million compared with net income of $78 million for the first quarter of 2022. Net income for the first quarter of 2023 included $43 million of income resulting from higher advance prepayments relative ...

PHOENIX, April 19, 2023 – In a wide-ranging discussion about access to homeownership at the Federal Home Loan Bank of San Francisco’s (FHLBank San Francisco) fourth Homeownership Solutions Summit in Arizona, public officials, academics, construction industry experts, affordable housing practitioners, local lenders, and other stakeholders maintained that strategies and investments that create new opportunities for quality jobs must be a critical part of the equation for increasing homeownership. “In strengthening ...

SAN FRANCISCO, April 17, 2023 – The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today announced that it received 125 qualified applications for the 2023 Affordable Housing Program (AHP) General Fund competition. This group of applications represents some of the most compelling affordable housing initiatives targeted to the specific needs of local communities throughout the country. In 2022, FHLBank San Francisco awarded $31.9 million in AHP grants ...

SAN FRANCISCO, April 11, 2023 – The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) has launched its 2023 WISH matching grant program, making $12.5 million available to help lower-income families and individuals achieve the dream of homeownership. This year, 41 FHLBank San Francisco member financial institutions headquartered in Arizona, California, and Nevada have signed on to assist eligible low- to moderate-income first-time homebuyers by delivering 4-to-1 matching ...

We are grateful to the many FHLBank San Francisco member financial institutions and community stakeholders who have shared their perspectives on the vital role, unique value, and broad community impact of the Federal Home Loan Bank System as part of the of the Federal Housing Finance Agency’s “FHLBanks at 100: Focusing on the Future” review. The importance of member voices in this conversation cannot be overstated. As we approach our ...

SAN FRANCISCO, March 16, 2023 — If you’ve ever purchased a home, you’ve probably at least considered a 30-year fixed-rate mortgage. It’s the most popular type of mortgage loan in the U.S. But this wasn’t always the case. The 30-year mortgage was a product of the Great Depression — and the Federal Home Loan Bank System, which was formed more than 90 years ago to help increase homeownership in America ...

March 10, 2023: As we have for more than 90 years, the FHLBank System, including the San Francisco Bank, stands ready to assist our members in any economic environment. Today’s Silicon Valley Bank event is unfortunate, but does not impact the financial strength and stability FHLBank San Francisco provides to our members, and, as such, the greater financial industry. FHLBank San Francisco continues to be a AAA-rated financial institution that ...

The Federal Home Loan Bank of San Francisco and the Federal Housing Finance Agency (FHFA) are inviting public comments on the community support activities of our member banks during the FHFA's Community Support Review of individual members. We encourage nonprofit housing developers, community groups, and all other interested parties, to take this opportunity to provide comments to the FHFA. The Community Support Requirements regulation (12 CFR 1290) requires all Federal ...

SAN FRANCISCO, February 22, 2023 — The Federal Home Loan Bank of San Francisco (Bank) today announced annual and fourth quarter 2022 operating results. Net income for 2022 was $323 million, compared with net income of $287 million for 2021. Net income for the fourth quarter of 2022 was $117 million, compared with net income of $67 million for the fourth quarter of 2021. The $36 million increase in net ...

SAN FRANCISCO, Feb. 21, 2022 – Federal Home Loan Bank of San Francisco gathered public officials, housing experts, and financial institutions for its third Homeownership Solutions Summit in Reno, Nevada, on January 24 to address the state’s severe and longstanding affordable housing crisis. Nevada ranks as the worst state for affordable housing in the U.S., and the summit offered an opportunity to explore challenges and identify solutions. Part of FHLBank ...

SAN FRANCISCO, February 14, 2023 – The Federal Home Loan Bank of San Francisco is pleased to announce the appointment of Cesar Covarrubias, Patricia Duarte, Elizabeth Elliott, and Maurilio León to its Affordable Housing Advisory Council (Advisory Council). The Advisory Council provides the Bank with expert guidance on affordable housing and economic development issues and advice on FHLBank San Francisco’s community grant and credit programs. New members of the Advisory ...

SAN FRANCISCO, February 7, 2023 – The Federal Home Loan Bank of San Francisco has promoted Eric Cicourel to senior vice president and community investment officer. He succeeds Marietta Núñez, who retired at the end of 2022. Mr. Cicourel joined FHLBank San Francisco in 1999 and has held various roles with increasing responsibilities in its Community Investment Department, most recently as a managing director overseeing the Bank’s Affordable Housing Program ...

Our member financial institutions may now apply for the Federal Home Loan Bank of San Francisco's 2023 WISH first-time homebuyer downpayment assistance program. The deadline for members to submit an application to participate in this year’s WISH program is Wednesday, February 15, 2023. To help you prepare for the 2023 WISH homeownership program, we invite you to join one of our two-hour webinars scheduled: Tuesday, January 24 at 10 a.m ...

SAN FRANCISCO, Jan. 17, 2023 — Jeremy Empol has joined the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) as senior vice president, public affairs and industry outreach. In this role, Empol will oversee FHLBank San Francisco’s government relations program, including representing the Bank’s interests with Congress, regulators, and financial industry stakeholders. “We are excited to welcome Jeremy to this important role on our public affairs team,” said ...

Dear Members, Recent headlines about the cryptocurrency industry have led to questions regarding how and when FHLBank San Francisco provides liquidity to its member institutions and the mission and purpose of the FHLBank System overall. First and foremost, I want to assure you that FHLBank San Francisco has no exposure to cryptocurrency assets. There is no question about FHLBank San Francisco’s financial strength and stability. FHLBank San Francisco continues to ...

The Bank is excited to announce applications are now being accepted for our 2023 Affordable Housing Program (AHP) General Fund and AHP Nevada Targeted Fund. The deadline to submit an application for this year's funding competitions is March 9, 2023. All applications must be submitted through the Bank's secure portal. The deadline to request a project application workspace on the secure portal is March 2, 2023. AHP Application Webinars We ...