CFR > Title 12 - Banks and Banking > CHAPTER XII—FEDERAL HOUSING FINANCE AGENCY > SUBCHAPTER D—FEDERAL HOME LOAN BANKS (parts 1261 to 1274) > PART 1264—FEDERAL HOME LOAN BANK HOUSING ASSOCIATES > 1264.3—Housing associate eligibility requirements.

1264.3—Housing associate eligibility requirements.

(a) General. A Bank may certify as a housing associate any applicant that meets the following requirements, as determined using the criteria set forth in § 1264.4 :
(1) The applicant is approved under title II of the National Housing Act (12 U.S.C. 1707, et seq. );
(2) The applicant is a chartered institution having succession;
(3) The applicant is subject to the inspection and supervision of some governmental agency;
(4) The principal activity of the applicant in the mortgage field consists of lending its own funds; and
(5) The financial condition of the applicant is such that advances may be safely made to it.
(b) State housing finance agencies. In addition to meeting the requirements in paragraph (a) of this section, any applicant seeking access to advances as a SHFA pursuant to § 950.17(b)(2) of this title shall provide evidence satisfactory to the Bank, such as a copy of, or a citation to, the statutes and/or regulations describing the applicant's structure and responsibilities, that the applicant is a state housing finance agency as defined in § 1264.1.

Code of Federal Regulations

[65 FR 44426, July 18, 2000, as amended at 75 FR 8240, Feb. 24, 2010]

Code of Federal Regulations

Effective Date Note: At At 75 FR 76622, Dec. 9, 2010, § 1264.3 was amended by removing the reference in (b) to “§ 950.17(b)(2) of this title” and adding in its place “§ 1266.17(b)(2) of this chapter”, effective Jan. 10, 2011.