The Federal Home Loan Banks’ Acquired Member Asset (AMA) programs continue to play a vital role in supporting affordable homeownership and strengthening local communities. According to new data from the Federal Housing Finance Agency (FHFA), the twelve regional FHLBanks collectively purchased nearly 47,000 mortgages in 2024, a move that injected more than $14.6 billion in liquidity into local lenders. That statistic represents a 40 percent jump from the previous year, underscoring how these programs continue to help small financial institutions meet the housing needs of families nationwide.
Created in 1997, AMA programs are a cornerstone of the FHLBank System’s mission to provide liquidity to members while expanding access to mortgage credit. Through initiatives such as the Mortgage Partnership Finance® (MPF®), Mortgage Purchase Program (MPP), and Mortgage Asset Program (MAP), the FHLBanks purchase conforming and government-guaranteed home loans from member institutions. This process enables community banks, credit unions, and other local lenders to replenish capital and issue more loans for home purchases and refinances, thus keeping mortgage funds circulating where they are needed most.
The programs’ reach is broad and inclusive. In 2024, AMA loans originated from more than 2,200 counties spanning all 50 states, the District of Columbia, Puerto Rico, and Guam. About three-quarters of all AMA mortgages financed home purchases, with one in four supporting first-time homebuyers. Every AMA loan was for an owner-occupied property, and most were for primary residences. It is worth noting that 100 percent of these featured fixed-rate terms, providing long-term payment stability for borrowers.
AMA lending also reflects a strong focus on affordability. Over half of the households served earned below the national average family income of $144,500, and nearly nine in ten AMA loans were made in areas with below-average incomes. These figures demonstrate how the program reaches communities that often struggle to access traditional mortgage financing.
Unlike Fannie Mae and Freddie Mac, whose mortgage purchases increasingly come from nonbank lenders, AMA programs primarily serve insured depository institutions, especially smaller, community-based ones. Roughly 96 percent of FHLBank members are community financial institutions, which means that the liquidity generated through AMA purchases often flows directly back into local economies.
From rural towns to urban neighborhoods, AMA programs keep lenders lending, families buying, and communities growing. The 2024 results affirm that the FHLBanks’ commitment to turning capital into community impact remains as strong as ever, helping to keep the dream of homeownership within reach for families across America.
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