Which federal agency was formed to provide funds to savings and loan institutions to facilitate affordable mortgages?

The Federal Home Loan Bank Board was established specifically to support and regulate savings and loan institutions by providing them with the necessary funding to enable affordable mortgage lending. This agency played a critical role in facilitating the availability of credit and stabilizing the housing market by ensuring that savings and loans had access to sufficient funds to meet the demand for home loans.

In addition to its direct role in funding, the Federal Home Loan Bank Board oversaw the operations of federal savings and loan associations and was instrumental in promoting home ownership through a robust mortgage financing system. This focus on supporting affordable mortgages illustrates the board's mission to enhance housing opportunities for the general public.

Other options, while related to housing finance, do not specifically address the same function. The FHA is more focused on providing mortgage insurance rather than directly funding institutions. Fannie Mae primarily buys and securitizes mortgages to enhance liquidity in the mortgage market but was not the original agency intended to directly fund savings and loan institutions. The Federal Deposit Insurance Agency, focused on ensuring the safety of depositors and securing banks, does not serve the same purpose in mortgage facilitation. The distinct role of the Federal Home Loan Bank Board in enabling affordable mortgages through direct funding makes it the correct choice for this question.