WASHINGTON, D.C. – May 10, 2013 – (RealEstateRama) — The National Council of State Housing Agencies (NCSHA) today released its 2011 Factbook, a comprehensive survey of HFA (Housing Finance Agency) program activity. The data contained within this annual publication supports NCSHA’s advocacy within Congress, the Administration, and the numerous federal agencies concerned with housing and enables the organization to accurately represent and respond to its member needs.
Of particular note in this year’s analysis:
A 13.5 percent increase in state HFA mortgage revenue bond (MRB) issuance during 2011 in contrast to the previous year. While the capital markets continued to struggle, HFAs issued $8.4 billion in MRBs in 2011, compared to $7.4 billion in 2010. HFAs issue MRBs to raise funds to support first-time homeownership for low and moderate-income families.
Showing how HFAs have adapted to challenging bond market conditions and today’s home buyer needs, new tables introduced in this year’s Factbook show that HFAs financed 9,415 single-family mortgages with more than $1.2 billion raised from alternative financing sources and supported 29,383 subordinate, or second, loans to help working families purchase affordable homes in 2011.
Since the Housing Credit program began in 1987, state housing agencies have financed over 2.6 million Housing Credit affordable rental homes. During this period, agencies have allocated over $12.6 billion in Housing Credits from their annual state ceilings to produce more than 1.78 million homes and financed over 825,000 additional homes with the 4 percent Housing Credit and tax-exempt bonds.
Use of the Housing Credit with tax-exempt bond financing increased to $228.3 million in 2011 from $186 million in 2010 and $201 million in 2009.
At the center of HFA activity within the states and NCSHA’s work in Washington are three federally authorized programs: tax-exempt Housing Bonds, the Housing Credit, and the HOME Investment Partnerships (HOME) program. Using Housing Bonds, the Housing Credit, and HOME, HFAs have designed hundreds of housing programs, including homeownership, rental, and all types of special needs housing. Many NCSHA member agencies also administer other federal housing programs—including Section 8 and homeless assistance—and state housing resources.
“The 2011 Factbook offers comprehensive and detailed evidence on HFAs and their programs’ results and success,” said Barbara J. Thompson, executive director of NCSHA. “Despite these successes, our nation’s unmet housing needs remind us of the importance of preserving and strengthening them. NCSHA encourages Congress and the Administration to continue these programs and provide them the resources and flexibility necessary to provide affordable housing help to those who need it.”
NCSHA publishes the Factbook annually to assist HFAs when comparing their programs and operations to those of other HFAs. Many housing industry professionals also utilize the Factbook as they work with and provide services to HFAs and the people they serve. The 2011 Factbook is divided into the following sections:
Administration and Budget,
Private Activity Bond Volume Cap Usage,
Mortgage Revenue Bonds,
The Low Income Housing Tax Credit,
Multifamily Bonds, and
HOME Investment Partnerships.
Each section begins with a brief description of the program and an analysis of key program data and trends. For more information about how to obtain a copy of NCSHA’s 2011 State HFA Factbook, please visit our website at www.ncsha.org and click on the Resource Center.
State Housing Finance Agencies – known as HFAs – share a public purpose mission to provide affordable housing help to the people of their jurisdictions who need it.
The National Council of State Housing Agencies – known as NCSHA – is a national nonprofit, nonpartisan association that advocates on behalf of HFAs before Congress and the Administration for affordable housing resources. It represents the HFAs of the 50 states, the District of Columbia, New York City, Puerto Rico, and the U.S. Virgin Islands. Membership also includes more than 300 affordable housing industry partners.
Kristine Lewis 202-624-7710;