This document summarizes various US government agencies and programs that provide agricultural and residential lending and housing assistance. It outlines the roles of the Farm Credit System, USDA Rural Development, HUD, FHA, Ginnie Mae, RESPA, ECOA, and state and local financing programs in California. It also discusses the goals and requirements of key acts like RESPA, ECOA, and the Holden Act that aim to expand access to credit and protect homeowners.

1. Financial Agencies and Lending
Programs
Chapter 6
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2. Agricultural Lending
• Need for flexibility
• Open-end mortgages
• Moratorium on payments
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3. The Farm Credit System (FCS)
• Farm Credit Administration (FCA)
• Federal Agriculture Mortgage Corporation (Farmer Mac)
• The U.S. Department of Agricultural Rural Development
Program (USDA Rural Development)
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4. U.S. Department of Housing and Urban Development
(HUD)
• Supervises the Federal Housing Administration (FHA)
• Directs Ginnie Mae
• Directs development block grants
• Enforces fair housing and RESPA regulations
• Manages the Housing Choice Voucher Program
• Regulates interstate land sales registration, urban
renewal, and rehabilitation programs
• Stabilization Project
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5. HUD Strategic Plan
• Increase home ownership opportunities
• Promote decent affordable housing
• Strengthen communities
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6. HUD: Other Program
• Urban renewal
• Subsidized housing
• Community Development Block Grants (CDBG)
• Public Housing
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7. The Real Estate Settlement Procedures Act (RESPA)
• Protects participants in a real estate
transaction by providing closing cost
information so they better understand the
settlement procedures
• Disclosures
– At time of loan application
– Before settlement closing
– At settlement
– After settlement
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8. The Federal Equal Credit
Opportunity Act (ECOA)
• Prohibits lenders from discriminating against
credit applicants on the basis of
race, color, religion, national
origin, sex, marital status, age, or dependency
on public assistance.
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9. Interstate Land Sales
• Established criteria for the dissemination of
vital information to potential buyers of
residential land.
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10. Federal Legislation
• Fair Housing Act
• Uhruh Civil Rights Act (Civil Code Section 51)
• Community Reinvestment Act
• The Home Mortgage Disclosure Act
• Truth-in-Lending (Regulation Z)
– Advertising
– Right of rescission
• Usury Laws
– Federal
– California
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11. State Financing Agencies
• Industrial Development Agency
• Community Redevelopment Agency (CRA)
– Tax-increment financing
– Mortgage revenue bonds
– Special assessments
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12. California Housing Finance Agency
(CALHFA)
• Affordable housing bank to make low interest
rate loans through the sale of tax-exempt
bonds for eligible first-time homebuyers
– Not a direct lender
– Works through approved lenders
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13. City Of Los Angeles Home
Mortgage Program
• Provides mortgage loans to low-income and
moderate-income first-time homebuyers who
wish to purchase from selected new homes
and condominiums.
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14. The Housing Financial Discrimination Act of 1977
(Holden Act)
• Offsets illegal practice of redlining
• Prohibits discrimination
• Encourages increased lending in areas where
financing has been unavailable
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