January 2013

Welcome to the new Thresholds

AHFA has combined our quarterly Thresholds and monthly Update printed newsletters into a single, monthly, digital edition. We will be bringing you current AHFA- and industry-related news straight to your inbox once a month. 
 

 

State Senator and AHFA supporter Hinton Mitchem dies


On January 22, former senator Hinton Mitchem, who served in the Alabama Legislature for more than three decades, died. In 1980, Senator Mitchem sponsored the bill that created AHFA. The AHFA Board and staff are grateful for his valuable service to our state. We extend our most sincere condolences to his family and friends.

 


AHFA's 2012 Annual Reports Released

In January, AHFA staff mailed nearly 500 copies of its 2012 Annual Report to business contacts nationwide. The Annual Report is the official yearly publication of AHFA. Download a copy. 

Additional information is furnished in the  Audited Financial Statements.
 
AHFA Offices to Close for February Holiday

 

The AHFA offices will be closed Monday, February 18 in observance of President's Day.

 
MULTIFAMILY NEWS
 

HOME/Housing Credit Application Workshop coming up in February

AHFA's annual application training is scheduled for February 25 in Montgomery. This year's event will be held in conjunction with the Alabama's Better Living Expo hosted by the Homebuilders Association of Alabama. Anyone interested in applying for 2013 HOME funds or Housing Credits should make plans to attend.
 

Rosedale Grand Opening
AHFA staff helps celebrate Rosedale Rebuild

On January 14, the first phase of the redevelopment of Tuscaloosa's Rosedale Court was dedicated during a ribbon-cutting ceremony at the complex. Rosedale was destroyed during the April 27, 2011, tornadoes that devastated much of our state. The new 88-unit Phase I was financed in part by $1.55 million in AHFA-administered Housing Credits. Infrastructure work has begun on the 85-unit second phase with construction planned to be completed in December.

 

 

Developers, do you have questions about the 2013 HOME/Housing Credit allocation plans and application?


Submit your questions via email to any member of our multifamily staff. Questions and responses will be compiled weekly and posted to AHFA.com. 
 
SERVICING NEWS
 

ServiSolutions announces new pricing model for BankServ customers

Our loan volume and our experience with bank loans have grown since we introduced the BankServ product enabling us to operate the program more efficiently, and we are passing that savings on to our customers. ServiSolutions has developed a new pricing model that will benefit our customers and offer an additional incentive for increased loan volume. A monthly flat fee of $25 per mortgage loan will be charged for servicing up to 50 loans, and the fee will decrease to $20 per loan per month for more than 50 loans.

 

If your bank is not already participating in BankServ, this is the perfect time to transition your loan servicing to ServiSolutions. Contact us for more information or to sign up.

 


AHFA to participate in ABA event

AHFA will be staffing a booth at the Alabama Bankers Association's Bank Operation and Management Summit February 6-7 in Hoover. Please visit us in the tradeshow.

 
ORIGINATION NEWS


In December, AHFA released revised maximum income limits for homebuyers using the Mortgage Credit Certificate. The Recapture Settlement Disclosures were updated to reflect the new numbers. Lenders, please visit AHFA.com or Lender Online for updated documents.
AHFA's Thresholds newsletter, which has been published quarterly since 1994, is changing to a monthly digital edition. Doing so will enable us to deliver current AHFA- and industry-related news straight to your inbox once a month. 
 
We appreciate your support and loyal readership of Thresholds and hope that you will join us in making this transition.