HOME/Housing Credit Funding Applications to be Accepted in March

Applications for the Housing Credits and HOME Investment Partnerships Program funds will be accepted by AHFA according to the below schedule.

Initial application items for all applications and applications for Community Housing Development Organization (CHDO) Certifications must be submitted to AHFA:
  • Beginning Wednesday, February 10 at 9 a.m. CST  
  • Ending Thursday, February 11 at 5 p.m. CST 

Final applications for the Housing Credits and HOME Investment Partnerships Program funds will be accepted:
  • Beginning Wednesday, March 9 at 9 a.m. CST
  • Ending Thursday, March 10 at 5 p.m. CST 

The application information is posted at http://bit.ly/1TEroxK. If you have any questions, please submit them to [email protected].

AHFA will host its annual free HOME/Housing Credit Application Workshop Tuesday, February 16 at Montgomery's Renaissance Hotel & Spa. This workshop is designed specifically for multifamily housing developers interested in applying for 2016 HOME Investment Partnerships funds and/or Housing Credits.

Due to limited seating, reservations will be restricted to no more than two (2) attendees per company. 

Final day for registration is February 11.

Register today: http://conta.cc/1PhlRPW

Lender Spotlight:
Keith Bice | InterLinc Mortgage Services, Birmingham

Keith Bice has been in the mortgage business for more than 20 years. He is a graduate of the Mortgage Bankers Association Future Leaders Program and has served two terms on the St. Clair Realtors Association Board. Bice has helped clients take advantage of AHFA's Step Up program for more than 10 years.
Q:   How did you hear about AHFA's homeownership programs?
A:    Initially through MBAA, and then through the mortgage company I worked for at the time.
Q:   What do you think is the greatest benefit of Step Up?
A:    Low down payment makes it affordable for first-time homebuyers or folks that are selling their homes with little or no equity that are looking to purchase their next home. Also the program is eligible for the entire state of Alabama. Other programs like USDA are for certain geographic locations only. 
Q:   What do you like most about Step Up and/or MCCs? 
A:    Guidelines are straightforward. When you have a question, AHFA underwriters go out of their way to help you. Also, as stated above, the entire state is eligible and not restricted to certain areas like some of the other down payment assistance programs or USDA loans.
Q:   What do you enjoy most/find most rewarding about your job?
A:    Each time we close a mortgage loan, we are changing lives and growing communities.

I have a team of five people. The process in years past would be that I would make the initial contact with clients and after they were squared away on their loan program, interest rate and closing costs, I would hand them off to my team to be taken care of. It got to a point to where all I was involved in was the numbers, dealing with loan issues and as a result, not going to closings. I lost the passion that came with seeing clients being able to meet their goals and getting excited. It didn't take me long to realize it was the people and being involved in our community that make our job rewarding. 

One of my goals for 2016 was to take back over talking to clients more than anyone on my team and to make it to all loan closings. Seeing homebuyers get the keys to their new home that they didn't think was possible is the gratification that validates what I do and why.
AHFA Offers New Developer Training

On January 28, AHFA hosted the first of its Multifamily Essentials training workshops.

The Multifamily Essentials training is specifically designed for those who have not previously applied for AHFA funding and are unfamiliar with the HOME and Housing Credit programs, but are interested in developing low-income rental housing in Alabama.

Discussion topics focus on a basic overview of the programs, including program and application requirements.
Grand Opening & Ribbon Cutting Held for The Flats at Colebridge in Tarrant

A grand opening for The Flats at Colebridge in Tarrant was held January 15. The 56-unit development was financed in part by $1.3 million in HOME Investment Partnerships program funds and $640,374 in Housing Credits, both administered by AHFA.

The Flats at Colebridge is located in a quiet neighborhood, close to shopping, and offers one- and two-bedroom units with fully equipped kitchens, ENERGY STAR appliances, air conditioning and much more. Other complex amenities include a community room, a computer center, and picnic area with grills.
Young Appointed to ACRE Board of Trustees

David C. Young, AHFA's multifamily administrator, was recently appointed to serve a two-year term as an industry-specific member of the Advisory Board of Trustees of the Alabama Center for Real Estate (ACRE). 

ACRE, housed within the University of Alabama's Culverhouse College of Commerce, collects, maintains and analyzes the state's real estate statistics, and is a trusted resource for Alabama real estate research, forecasting, and professional development.
AHFA Staff Members Attend National HFA Meeting

In January, AHFA staff members attended the 2016 HFA Institute hosted by the National Council of State Housing Agencies. 

This event provides an opportunity for housing finance agency staff from across the country to network with their peers and receive education and advice from key federal officials, leading trainers and consultants, noted industry professionals, and experienced HFA practitioners.

Training sessions cover program basics, legislative and regulatory updates, industry perspectives, and the solutions to the latest program administration challenges.
AHFA Offers Educational Sessions at Annual Habitat Conference

AHFA staff members were on hand to discuss AHFA's programs and Hardest Hit Alabama's foreclosure prevention options to attendees of the Alabama Association of Habitat Affiliates (AAHA) 2016 Leadership Conference and Awards Banquet January 21.

Each year, AAHA hosts this event to provide an opportunity for affiliates to network and learn as well as to recognize leaders in the organization's mission to build or rehabilitate decent, affordable housing in partnership with families.
We're Looking for a Few Good Managers

Give your top managers the recognition they deserve by nominating them for AHFA's annual Manager of the Year award.

Site and property managers for any development financed with AHFA-administered HOME funds or Housing Credits are eligible.

Nominations are due April 29. 

The 2016 winner will be announced May 26 at the Alabama Affordable Housing Association's annual conference. 

Click here for a nomination package: http://bit.ly/1VoC4RG
AAHA Accepting Applications for 2016 Resident Scholarship

The Alabama Affordable Housing Association (AAHA) is accepting applications for its annual resident scholarship. Applicants must be accepted or enrolled in an accredited vocational or technical school, college, or university; have at least a "B" average or 3.0 GPA; and meet all other application criteria.

The scholarship is open to qualified tenants and resident family members living at an AAHA-member apartment complex and to property/divisional management staff of AAHA-member companies and their children.

Applications must be received by March 4 at noon. Please contact AAHA Executive Director Arrice Faught ([email protected] or 205.331.8668) for full details.
FHLBank Atlanta to host Webinars for AHP Competitive Applicants

FHLBank Atlanta's 2016 Affordable Housing Program (AHP) Competitive Round will open on March 1. Up to $500,000 per project will be awarded  through a competitive application process to FHLBank Atlanta member financial institutions and their for-profit, nonprofit, and quasi-governmental developer customers.

The deadline for submitting applications is April 7.

In preparation, FHLBank Atlanta is offering a series of webinars to learn about AHP Competitive requirements for 2016 and important tips for submitting a successful application, with sessions for new project sponsors and experienced sponsors.

Non-Agent Payment Options from ServiSolutions Offer Convenience for Customers

ServiSolutions offers multiple ways for customers to make their payments without waiting to talk to a customer service agent. Fees vary. 
  • Our pay-by-phone option is available 24/7/365 with no wait for a fee of $4 per transaction. Dial 866.339.2432 (or 855.819.8081 in Washington) and select Option 1. Customers will need to have their loan number, routing number and checking or savings account number available when they call.
  • Customers can make a one-time online payment for $3 per transaction using our Customer CareNet service. In addition, customers can manage their accounts, review statements and account activity, get account notifications and much more with Customer CareNet. Visit www.servsol.com and click on the Customer CareNet button to sign up.
  • We also offer free automatic drafting of payments monthly. Customers can register for automatic draft with a customer service agent or by visiting www.servsol.com  and following the link to Customer CareNet.
February Holiday

AHFA, ServiSolutions and Hardest Hit Alabama will be closed on Monday, February 15 in observance of the Presidents Day holiday. Please make a note of this date.
Alabama Housing Finance Authority | 334.244.9200 | Email | Website

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