Valley Partners with FHLBNY to Offer Affordable Housing Programs

News | 1/31/2020

WAYNE, N.J. - Friday, January 31, 2020 - Valley partnered with the Federal Home Loan Bank of New York (FHLBNY) to offer one of the FHLBNY Housing Programs 2020 Training Seminars on the Affordable Housing Program (AHP) and the Homebuyer Dream Program (HDP) in Totowa, New Jersey. Valley is a bank member of the FHLBNY and offers both programs.

  

AHP funds are accessed as awarded through a competitive process to bank members who submit applications on behalf of project sponsors for the purchase, rehabilitation, or construction of affordable homes or apartments. The focus of the AHP training was to help bank members and housing partners increase the quality of their application submissions.

  

The HDP provides down payment and closing cost assistance to qualified first-time homebuyers purchasing homes in New York, New Jersey, Puerto Rico or the U.S. Virgin Islands. The focus of the HDP training session was to assist program participants as they continue to transition from the First Home Club program to the Homebuyer Dream Program and hear about recent changes to the program.

  

Attendees at both sessions included individuals working in Community Development and Affordable Housing at for profit and nonprofit organizations including Housing Counseling Agencies. The FHLBNY is offering a total of twelve training seminars across its program areas and is also leveraging these sessions for Research and Development inputs as they listen to feedback from its program participants.  

  

About The Federal Home Loan Bank of New York
The Federal Home Loan Bank of New York (FHLBNY) helps community lenders in New Jersey, New York, Puerto Rico and the U.S. Virgin Islands advance housing and community growth. The FHLBNY is committed to providing affordable housing opportunities to families and communities through its member banks; for more informationhttps://www.fhlbny.com/community/housing-programs/

  

About Valley
As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with approximately $37.5 billion in assets. Valley is committed to giving people and businesses the power to succeed. Valley operates many convenient branch locations across New Jersey, New York, Florida and Alabama, and is committed to providing exceptional service, the latest innovations and an experienced and knowledgeable team dedicated to meeting customer needs. Helping communities grow and prosper is the heart of Valley’s corporate citizenship philosophy. To learn more about Valley, go to www.valley.com or call our Customer Service Center at 800-522-4100.