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FHLBank Atlanta Community Investment Services Product Overview Fuller Center for Housing

FHLBank Atlanta Community Investment Services Product Overview Fuller Center for Housing Covenant Partner Conference January 25, 2013. 1. Community Dividend. Earnings. FHLBank Products. Connecting the Dots. Unique offering to Shareholder and Community.

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FHLBank Atlanta Community Investment Services Product Overview Fuller Center for Housing

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  1. FHLBank AtlantaCommunity Investment Services Product Overview Fuller Center for Housing Covenant Partner Conference January 25, 2013 1

  2. Community Dividend Earnings FHLBank Products Connecting the Dots Unique offering to Shareholder and Community • Like every “dividend,” predicated upon earnings • “Equity-like” capital for real estate transactions • Direct & indirect benefits to shareholders, developers, homebuyers, tenants, and the community 10 percent =

  3. Community Shareholder FHLBankAtlanta Connecting the Dots Funds are invested in community-based transactions generating successful lending opportunities Growing communitiescreate demand for additional financing DirectBenefit Viable lending, new customers; reduced loan risk IndirectBenefit New and rehabbed housing, growing local tax base; job creation FHLBank Atlanta provides “equity-like” funding enabling shareholders to make transactions viable and attract new customers Shareholder originations create demandfor advances 3

  4. Benefits for Covenant Partners • Generate fee income from performing rehabilitation work • Reach new customer markets and grow your business • Lower energy costs and improve the safety and accessibility of your customers' homes • Access to products that can be used with other funding sources • Single source offering purchase or rehabilitation funding • Streamlined application process • Minimal reporting requirements

  5. AHP Set-aside Products Purchase Products Rehabilitation Products First-time Homebuyer Product (FHP) Community Stability Product (CSP) Foreclosure Recovery Product (FRP) Veterans Purchase Product (VPP) Returning Veterans Purchase Product (RVPP) Veterans Rehabiliation Product (VRP) Returning Veterans Rehabiliation Product (RVRP) Energy Efficiency/ Weatherization Rehabilitation Product (EWP) Accessibility Rehabilitation Product (ARP)

  6. Purchase Products

  7. Rehabilitation Products

  8. Veterans Products

  9. Funding Parameters for Rehab Products

  10. How can Covenant Partners Access Products? • Covenant Partner works with low and moderate income families as well as the elderly homeowners to achieve the organization’s goal of energy efficient affordable housing • The partner has identified 15 low and moderate income homeowners in need of energy efficiency/ accessibility repairs • Total cost will be $12,000 per home (rehab plus soft costs) • Inspection costs before and after completion of repairs will be $250 per home How much will the Covenant Partner earn if they coordinate the repairs for all 15 homes? Note: All participating homeowners must complete financial literacy counseling with CredAbility for a fee of $150

  11. Rehab Product Example Approved Rehab costs  $ 10,000 Soft Costs – 20% $ 2,000 Total Rehab Cost for Each Home $12,000 Fee Income Calculation Maximum Soft Costs $ 2,000 CredAbility Counseling Fee($150) Inspection fees paid ($250) Per Unit Fee Income Earned $1,600

  12. Easily Accessible Funding! • Upon approval the Bank will credit funds to the member financial institution’s demand deposit account • Member financial institutions will disburse funds to intermediaries or contractors after work is completed for rehab products • Homebuyers and homeowners will work with Covenant Partners to apply for funds through a member financial institution • Member financial institutions submit applications to FHLBank Atlanta

  13. Ready to Get Started? Resources available for identifying FHLBank Atlanta members: List of Participating Members http://www.fhlbatl.com/docs/cis/fhp-participating-members.pdf FHLBank Atlanta Member Directory http://corp.fhlbatl.com/financialservices.aspx?id=941

  14. First Tuskegee Bank and the City of Montgomery, AL http://youtu.be/1ilfWg1vo8I

  15. AHP Ownership Products Contact Us for More Information Business and Relationship Development ShaDonte Dozier CIS Business and Relationship Development Manager sdozier@fhlbatl.com 404-888-8416 Visit our website at http://www.fhlbatl.com/ahp/Set-aside/ 15

  16. Overview Questions? FHLBank Atlanta

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