PART 1264—FEDERAL HOME LOAN BANK HOUSING ASSOCIATES Authority: 12 U.S.C. 1430b, 4511, 4513 and 4526. Source: 65 FR 44426, July 18, 2000, unless otherwise noted. Redesignated at 75 FR 8240, Feb. 24, 2010. Editorial Note: Nomenclature changes to part 1264 appear at 78 FR 2324, Jan. 11, 2013. § 1264.1 Definitions. As used in this part: Governmental agency State housing finance agency SHFA (1) A public agency, authority, or publicly sponsored corporation that serves as an instrumentality of any state or political subdivision of any state, and functions as a source of residential mortgage loan financing in that state; or (2) A legally established agency, authority, corporation, or organization that serves as an instrumentality of any Indian tribe, band, group, nation, community, or Alaskan Native village recognized by the United States or any state, and functions as a source of residential mortgage loan financing for the Indian or Alaskan Native community. [65 FR 44426, July 18, 2000, as amended at 67 FR 12849, Mar. 20, 2002; 75 FR 8240, Feb. 24, 2010; 78 FR 2324, Jan. 11, 2013] § 1264.2 Bank authority to make advances to housing associates. Subject to the provisions of the Bank Act and part 1266 of this chapter, a Bank may make advances to an entity that is not a member of the Bank if the Bank has certified the entity as a housing associate under the provisions of this part. [65 FR 44426, July 18, 2000, as amended at 75 FR 8240, Feb. 24, 2010; 81 FR 76297, Nov. 2, 2016] § 1264.3 Housing associate eligibility requirements. (a) General. (1) The applicant is approved under title II of the National Housing Act (12 U.S.C. 1707, et seq. (2) The applicant is a chartered institution having succession; (3) The applicant is subject to the inspection and supervision of some governmental agency; (4) The principal activity of the applicant in the mortgage field consists of lending its own funds; and (5) The financial condition of the applicant is such that advances may be safely made to it. (b) State housing finance agencies. [65 FR 44426, July 18, 2000, as amended at 75 FR 8240, Feb. 24, 2010; 75 FR 76622, Dec. 9, 2010] § 1264.4 Satisfaction of eligibility requirements. (a) HUD approval requirement. (b) Charter requirement. (1) The applicant is a government agency; or (2) The applicant is chartered under state, federal, local, tribal, or Alaskan Native village law as a corporation or other entity that has rights, characteristics, and powers under applicable law similar to those granted a corporation. (c) Inspection and supervision requirement. (2) An applicant shall be deemed to meet the inspection requirement if there is a statutory or regulatory requirement that the applicant be audited or examined periodically by a governmental agency or by an external auditor. (3) An applicant shall be deemed to meet the supervision requirement if the governmental agency has statutory or regulatory authority to remove an applicant's officers or directors for cause or otherwise exercise enforcement or administrative control over actions of the applicant. (d) Mortgage activity requirement. (e) Financial condition requirement. [65 FR 44426, July 18, 2000, as amended at 67 FR 12849, Mar. 20, 2002; 70 FR 9510, Feb. 28, 2005; 75 FR 8240, Feb. 24, 2010] § 1264.5 Housing associate application process. (a) Authority. (b) Application requirements. (c) Bank decision process Action on applications. (2) Decision on applications. (3) File. [65 FR 44426, July 18, 2000, as amended at 70 FR 9510, Feb. 28, 2005; 75 FR 8240, Feb. 24, 2010] § 1264.6 Appeals. (a) General. (b) Record for appeal. (c) Deciding appeals. [65 FR 44426, July 18, 2000, as amended at 70 FR 9510, Feb. 28, 2005; 75 FR 8240, Feb. 24, 2010; 80 FR 80233, Dec. 24, 2015]