National Homeownership Month: Opening Doors to Homeownership with the Downpayment Plus® Programs

National Homeownership Month: Opening Doors to Homeownership with the Downpayment Plus® Programs

June is National Homeownership Month, and for many prospective homebuyers, the path to homeownership remains challenging. In this episode of Banking on Connections, Angie Ashlaw, Lead Community Investment Operations Specialist, sits down with Jamie Lutton, Manager of Community Outreach and Engagement, to discuss how FHLBank Chicago's Downpayment Plus® (DPP®) programs are helping eligible households overcome down payment and closing cost barriers on the path to homeownership.  Together, they explore the housing affordability challenges facing households across Illinois and Wisconsin, including rising home prices, limited housing inventory, and increasing upfront costs. You'll also hear perspectives from FHLBank Chicago member institutions about what they're seeing in their communities and how DPP is helping more individuals and families achieve their homeownership goals.

A New Path to Affordable Housing: The MPF® Habitat for Humanity® Program

Across Illinois and Wisconsin, the need for affordable housing continues to outpace supply, and for many Habitat for Humanity affiliates, building more homes has become increasingly difficult. In this episode of Banking on Connections, FHLBank Chicago introduces its new Mortgage Partnership Finance® (MPF®) Habitat for Humanity Program and the collaboration behind it. Moderated by Jamie Lutton, Manager of Community Outreach and Engagement at FHLBank Chicago, the conversation features Patrick Sullivan, Executive Vice President and Group Head of Mortgage Partnership Finance® Program at FHLBank Chicago; Sarah Brachle Wagner, Chief Executive Officer of Chicagoland Habitat for Humanity; and Peter Lewandowski, Chief Executive Officer of Habitat for Humanity of Wisconsin. Together, they walk through the realities shaping Habitat’s work today, from rising construction and land costs to the challenges of funding homes under a traditional model where capital is tied up over time. The discussion also explores how third-party lending and new approaches to financing are helping affiliates access capital more quickly. The MPF Habitat for Humanity Program builds on that shift by combining interest rate subsidies, flexible underwriting, and access to the secondary market to create a more consistent, standardized solution. The goal is straightforward: help Habitat affiliates reinvest capital faster, build more homes, and serve more families.

Building the Next Generation of Affordable Housing Developers

Building affordable housing takes more than funding and land — it takes skilled developers. In this episode of Banking on Connections, Federal Home Loan Bank of Chicago highlights how it is strengthening the affordable housing talent pipeline through its Community First® Developer Program. In 2025, FHLBank Chicago awarded $5.9 million through the Developer Program to organizations across Illinois and Wisconsin, supporting more than 110 internships and fellowships designed to build real-world development expertise. These grants help nonprofit and mission-driven organizations hire, train, and mentor emerging professionals gaining hands-on experience in project management, predevelopment planning, construction, and financing. Featuring perspectives from Developer Program grant recipients and their member partners, the episode shows how FHLBank Chicago’s funding is expanding organizational capacity, strengthening local housing ecosystems, and supporting the skilled developers needed to move affordable housing projects forward.

The Fed’s September Rate Cut: What It Means for Markets, Jobs, and Housing

This episode of Banking on Connections features James Hotchkiss discussing the Federal Reserve’s September rate cut and its impact on the economy. The conversation centers on the Fed’s decision to lower the federal funds rate by 25 basis points, signaling a shift in monetary policy as inflation cools and the labor market slows. Key points include: * The Fed’s move reduces recession risks and reflects growing concern about the jobs market, with hiring slowing but layoffs remaining low. * Uncertainty around tariffs and rates continues to affect business investment and consumer sentiment, especially for small businesses. * The housing market shows regional differences: inventory is high in the South but remains tight in the Midwest and Northeast, with Chicago seeing strong price appreciation. * The Fed is now prioritizing employment over inflation, willing to let inflation run hotter to support job growth. * The episode closes with a look at how these changes may affect long-term rates, housing affordability, and consumer confidence as we move through 2025.

MPF® Program's Evolving Role in Housing: Insights From Patrick Sullivan

On this episode of Banking on Connections, host Stephen Schumacher dives into one of the podcast’s most essential themes—housing—with Patrick Sullivan, Executive Vice President and Group Head of the Mortgage Partnership Finance® (MPF®) Program. As supply and affordability challenges persist across Illinois and Wisconsin, Patrick shares his unique 360-degree perspective on the housing industry, how the MPF Program has evolved to support housing affordability, and why collaboration among financial institutions, community partners, and housing leaders is key to tackling the challenging housing market. Tune in and be part of the conversation shaping the future of housing finance.