Freddie Mac and FHLB Des Moines Partner to Increase Access to Affordable Housing on Tribal Lands
Freddie Mac (FMCC) and Federal Home Loan Bank of Des Moines announced a partnership to expand affordable housing finance options on tribal lands. The collaboration focuses on promoting Freddie Mac's HeritageOne mortgage offering through FHLB Des Moines' financial institution network. HeritageOne is designed for members of federally recognized Native American tribes living in tribal areas, providing conventional financing for various land ownership types and financial counseling services. The program requires at least one borrower to be an enrolled tribal member who will use the property as their primary residence.
Freddie Mac (FMCC) e Federal Home Loan Bank di Des Moines hanno annunciato una partnership per espandere le opzioni di finanziamento abitativo accessibile nelle terre tribali. La collaborazione si concentra sulla promozione dell'offerta di mutui HeritageOne di Freddie Mac attraverso la rete di istituzioni finanziarie del FHLB di Des Moines. HeritageOne è progettato per i membri delle tribù native americane riconosciute a livello federale che vivono in aree tribali, fornendo finanziamenti convenzionali per vari tipi di proprietà terriera e servizi di consulenza finanziaria. Il programma richiede che almeno un mutuatario sia un membro registrato della tribù che utilizzerà la proprietà come residenza principale.
Freddie Mac (FMCC) y Federal Home Loan Bank de Des Moines anunciaron una asociación para ampliar las opciones de financiamiento de vivienda asequible en tierras tribales. La colaboración se centra en promover la oferta de hipotecas HeritageOne de Freddie Mac a través de la red de instituciones financieras del FHLB de Des Moines. HeritageOne está diseñado para los miembros de tribus nativas americanas reconocidas a nivel federal que viven en áreas tribales, proporcionando financiamiento convencional para varios tipos de propiedad de tierras y servicios de asesoramiento financiero. El programa requiere que al menos un prestatario sea un miembro inscrito de la tribu que usará la propiedad como su residencia principal.
Freddie Mac (FMCC)와 Federal Home Loan Bank of Des Moines가 부족 토지에서 저렴한 주택 금융 옵션을 확대하기 위한 파트너십을 발표했습니다. 이 협력은 FHLB Des Moines의 금융 기관 네트워크를 통해 Freddie Mac의 HeritageOne 모기지 제공을 촉진하는 데 초점을 맞추고 있습니다. HeritageOne은 부족 지역에 거주하는 연방 공인 원주율 부족의 구성원을 위해 설계되었으며, 다양한 토지 소유 유형을 위한 전통적인 금융과 재정 상담 서비스를 제공합니다. 이 프로그램은 적어도 한 명의 차입자가 재산을 주거지로 사용할 부족 등록 회원이 되어야 합니다.
Freddie Mac (FMCC) et Federal Home Loan Bank de Des Moines ont annoncé un partenariat pour élargir les options de financement de logements abordables sur les terres tribales. La collaboration se concentre sur la promotion de l'offre de prêts hypothécaires HeritageOne de Freddie Mac à travers le réseau d'institutions financières de FHLB Des Moines. HeritageOne est conçu pour les membres des tribus amérindiennes reconnues au niveau fédéral vivant dans les zones tribales, fournissant un financement conventionnel pour divers types de propriété foncière et des services de conseil financier. Le programme exige qu'au moins un emprunteur soit un membre inscrit de la tribu qui utilisera la propriété comme sa résidence principale.
Freddie Mac (FMCC) und Federal Home Loan Bank von Des Moines haben eine Partnerschaft angekündigt, um die Finanzierungsoptionen für erschwinglichen Wohnraum in Stammesgebieten zu erweitern. Die Zusammenarbeit konzentriert sich darauf, das HeritageOne Hypothekenangebot von Freddie Mac über das Netzwerk der Finanzinstitute von FHLB Des Moines zu fördern. HeritageOne ist für Mitglieder der auf Bundesebene anerkannten amerikanischen Ureinwohnerstämme gedacht, die in Stammesgebieten leben, und bietet konventionelle Finanzierungen für verschiedene Arten von Grundstückseigentum sowie finanzielle Beratungsdienste an. Das Programm erfordert, dass mindestens ein Darlehensnehmer ein eingeschriebenes Stammesmitglied ist, das die Immobilie als seinen Hauptwohnsitz nutzen wird.
- Partnership expands access to conventional financing in underserved tribal markets
- Leverages FHLB Des Moines' network for wider distribution of HeritageOne mortgage product
- Provides specialized financial counseling services for first-time homebuyers
- None.
McLEAN, Va., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) and the Federal Home Loan Bank of Des Moines (FHLB Des Moines) today announced a collaboration to help increase affordable housing finance options on tribal lands. FHLB Des Moines will raise awareness about Freddie Mac's HeritageOne mortgage offering among its network of financial institution members. The HeritageOne mortgage offering is an innovative financing solution designed by Freddie Mac to meet the borrowing needs of members of federally recognized Native American tribes living in tribal areas. It also provides financial counseling and other resources to members of Native American tribes, especially first-time homebuyers.
"Freddie Mac and FHLB Des Moines can be impactful partners in attracting capital to support Native American homeownership," said Sonu Mittal, SVP and head of Single-Family Acquisitions at Freddie Mac. “We are aligned in mission and purpose and have tools that can help deliver more affordable mortgage options in tribal lands and rural areas to safely and responsibly expand opportunities to homeownership."
"FHLB Des Moines recognizes and celebrates the strength and self-determined spirit of Native communities throughout our district," said Kris Williams, President & CEO of FHLB Des Moines. "We are pleased to support Freddie Mac in its efforts to showcase ways its HeritageOne product may be leveraged by our financial institution members to create pathways of opportunity for informed and sustainable homeownership for tribal members.”
With the HeritageOne offering, borrowers have access to conventional financing for various types of land ownership interests (e.g., tribal trust land, allotted trust land, unrestricted or restricted fee simple land, etc.) and for homes located within eligible Native American tribes' tribal areas. To qualify for a HeritageOne mortgage, at least one borrower in the household must be an enrolled member of a federally recognized Native American tribe who will occupy the property as a primary residence.
About Federal Home Loan Bank of Des Moines
The Federal Home Loan Bank of Des Moines is deeply committed to strengthening communities, serving 13 states and three U.S Pacific territories as a member-owned cooperative. FHLB Des Moines is one of 11 Federal Home Loan Banks in the U.S. that make up the Federal Home Loan Bank System. Members include community and commercial banks, credit unions, insurance companies, thrifts and community development financial institutions. FHLB Des Moines is wholly owned by its members and receives no taxpayer funding. For additional information about FHLB Des Moines, please visit www.fhlbdm.com/about
About Freddie Mac
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | X | LinkedIn | Facebook | Instagram | YouTube
Mollie Laniado
571-382-1784
Mollie_Laniado@FreddieMac.com
Julie DeVader
515-412-2172
Jdevader@fhlbdm.com
FAQ
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