Monthly e-news for Members of FHLBank Pittsburgh
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Partnership Makes Sense in Current Mortgage Environment After years of sustained low interest rates, mortgage lenders are facing a highly competitive market with decreased demand for loans. As you direct your marketing efforts to these borrowers, consider the benefits of the FHLBanks’ Mortgage Partnership Finance® Program. |
FHLBank Calendar
10/9 Columbus Day – Bank closed 10/17 AHP Check Presentation and Groundbreaking — Speakman Place, Wilmington, DE 10/19-20 Board of Directors' Meeting — Pittsburgh, PA For full calendar, click here. |
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First Front Door Funds Still Available for 2006 More than $2 million in First Front Door funding is still available in 2006. FFD addresses the funding needs of low-income, first-time homebuyers by providing grant assistance – through member financial institutions – for down payment and closing costs. |
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Half-million-dollar Grant Invigorates Reading’s Revitalization Efforts U.S. Rep. Jim Gerlach (PA-6), alongside representatives of Our City Reading, Sovereign Bank and FHLBank Pittsburgh, announced another $500,000 grant for the city's cornerstone revitalization project – clearing the way for homeownership opportunities for another 100 first-time homebuyers. |
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FHLBank Pittsburgh is a wholesale bank that serves the housing finance and community and economic development needs of its owner-members. FHLBank Pittsburgh provides reliable access to low-cost funds, competitive pricing in the purchase of mortgage loans, correspondent banking, technical assistance, affordable housing grants and other programs so members can better serve their own communities. FHLBank is privately capitalized and funded, does not use taxpayer dollars, and enjoys a triple-A rating. It currently has 333 members in its district of Delaware, Pennsylvania and West Virginia and approximately $74.7 billion in assets. FHLBank Pittsburgh is one of twelve Banks in the Federal Home Loan Bank System, established by Congress in 1932 to support the residential mortgage activities of local financial institutions.