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17th March 2016, 12:39 PM
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Join Date: May 2012
Re: What is the Federal Home Loan Bank Act

The Federal Home Loan Bank Act, Pub.L. 72–304, 47 Stat. 725, enacted July 22, 1932, is a United States federal law passed under President Herbert Hoover in order to lower the cost of home ownership.

It Established the Federal Home Loan Bank Board to charter and supervise federal savings and loan institutions.

It also Created the Federal Home Loan Banks which lend to
Building and Loan Associations,
Cooperative Banks,
Homestead Associations,
Insurance Companies,
Savings Banks,
Community Development Financial Institutions,
Insured Depository Institutions in order to Finance Home Mortgages

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