Federal Home Loan Bank names Ries vice chair of housing committee

The Federal Home Loan Bank of Chicago named Leo Ries of Milwaukee its vice chair of the Affordable Housing Committee.

The Federal Home Loan Bank of Chicago is a $73 billion wholesale bank serving the needs of member housing finance institutions located in Illinois and Wisconsin.

Reis has been the executive director of the Local Initiatives Support Corp. (LISC) Milwaukee since 1999. He has served on the Federal Home Loan Bank’s board of directors for three years.

During 2011, the bank’s affordable housing grant programs consisted of both the $21 million Competitive AHP grant program and a $13 million homeownership grant set-aside program called Downpayment Plus.

Since 1990, the Federal Home Loan Bank of Chicago has awarded more than $264 million in Competitive AHP grants and more than $77 million in DPP funds that have helped provide housing for families whose incomes are 80 percent or less of the area median income.

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