Washington, DC – August 16, 2024 – The Federal Home Loan Bank System (FHLBank System), has filed a comment letter in response to the Federal Housing Finance Agency (FHFA) Request for Input on the Affordable Housing Program (AHP) application process. The comment letter expresses support for FHFA's goal of simplifying the AHP application process, while also asserting that a more meaningful and effective approach to enhancing the program's impact would be for the agency to revise the overall regulatory framework governing AHP to allow this crucial element of grant funding to efficiently, consistently, and effectively help ease affordable housing challenges. The comment letter also encourages FHFA to be mindful of the role the FHLBanks play – through their members – as "gap" funders rather than lead lenders in affordable housing projects.