Vote for #LendersTakeASelfie 2016! Fan Favorite will Win!

Participating Step Up lenders from all over the state expressed their selfies and entered the #LendersTakeASelfie contest during the month of June.

A panel of judges is now working to select the five most creative selfies and then it will be your turn to help choose the winner of #LendersTakeASelfie!

Vote for your favorite selfie by visiting AHFA's Facebook page and click on the "Vote for #LendersTakeASelfie 2016" album with the top 5 entries. Vote for your favorite by liking the picture of the lender/client that you want to win #LendersTakeASelfie. Voting will be open from 8 a.m. on Tuesday, July 5 through 11:59 p.m. on Saturday, July 9. The selfie with the most likes will win, and that lender and client will receive a $1,000 gift card each! The winner will be announced Monday, July 11.

AHFA hosted #LendersTakeASelfie to celebrate National Homeownership Month in June. For more information about the contest, visit http://bit.ly/1YlOk7l.
New Loan Funding Policy to Begin July 15

AHFA/ServiSolutions has made substantial changes to its loan funding processes and procedures. Effective July 15, all lenders are required to be compliant with the new guidelines.

Changes will include new delivery checklists, new documentation requirements for purchase, updated delivery and purchase deadlines.

In addition, AHFA will no longer be the Servicer of Record at the time of the loan closing. The originating lender will remain the servicer, with full servicing responsibilities, until the loan(s) is/are purchased. AHFA will become the Servicer of Record when the loan is purchased.

Mandatory webinar training is required for all participating lenders. The training sessions will be listed on the lender training calendar on AHFA.com.

AHFA Announces 2016 Multifamily Housing Development Allocations

On June 2, AHFA announced the ten multifamily housing developments selected by its Board of Directors to receive allocations of 2016 Low-Income Housing Tax Credits (Housing Credits) or Housing Credits combined with HOME Investment Partnerships Program (HOME) funds.

The approved developments will create 634 units of affordable housing across Alabama. Typically, construction on these approved developments begins within 6 months, with an expected completion date within 18-24 months.

Housing Credits and HOME funds, as primary AHFA funding sources, are often utilized with other supplemental housing resources. This method, incentivizing developers to leverage additional loan, grant, and philanthropic resources, is one of the measures AHFA takes to ensure programs help the most Alabamians possible.

A detailed recipient list with project locations and funding amounts is available for download: http://bit.ly/1TEroxK.
AHFA Accepting Comments on 2016 National Housing Trust Fund & Amended 2016 HOME Program Allocation Plans

Now through July 26, AHFA and the Alabama Department of Economic and Community Affairs (ADECA) will accept public comments concerning the 2016 National Housing Trust Fund Allocation Plan for the State of Alabama. 

Both the 2015-2019 Five-Year Consolidated Plan and the Fiscal Year 2016 One-Year Annual Action Plan (Plans) must be amended to reflect how Housing Trust Fund awards will be used for the new construction of rental housing for extremely low income populations. The plans contain a preference for projects that target veterans of the U.S. Armed Forces who are homeless or at risk of homelessness. 

In addition to the new National Housing Trust Fund legislation and its inclusion in the State of Alabama Plans, this public commenting period also addresses 1) a change in the amount of Fiscal Year 2016 HOME funds provided to the State of Alabama by HUD and 2) how AHFA plans to combine unallocated Fiscal Year 2016 HOME funds with Multifamily Housing Revenue Bonds for new construction of rental housing. Both of these actions constitute amendments to the previously submitted Consolidated Plan and Action Plan.  

A public hearing was held on June 26 in Montgomery to accept oral comments on the plans. All written comments must be submitted using the AHFA-required comment form and must be received by AHFA no later than July 26.

The draft of the Plans may be viewed at www.ahfa.com or www.adeca.alabama.gov. 

Demopolis Family of Four Finances Safer, Larger Home with AHFA's Step Up Mortgage Option

Clay and Tara Tew and their two daughters were looking for safety and space in a new home. The family of four was strained for space in the trailer they owned, and they also hated leaving anytime there was bad weather.

Step Up financing from AHFA made their search easier. Now the Tew family is enjoying more space, a bigger kitchen, and being closer to their jobs. Tara said, "We probably wouldn't have been able to get a home without it. The down payment assistance was really what made it happen."

Read more of the Tew family's story: http://bit.ly/1We83bI
AHFA Bids Neal Acker Farewell

Neal H. Acker, AHFA's general counsel, retired on June 30 after 25 years of distinguished and outstanding service to AHFA and the citizens of Alabama.

Acker served as AHFA's legal counsel - first, as an attorney with the law firm of Capell & Howard, P.C. and, since 2003, as general counsel. His work encompassed every facet of AHFA's operations including advising on any and all legal matters relating to AHFA programs and activities, monitoring federal and state legislation and regulations that affect AHFA, ensuring AHFA's compliance with all applicable state and federal laws, and providing sound direction to AHFA's other divisions.

Acker's wisdom and guidance were instrumental in the growth of AHFA. His leadership and professional judgment have positively impacted our continued and future success.

Please join the AHFA board and staff in extending Neal Acker sincere congratulations and best wishes for a long and happy retirement. 

Acker's successor is Montgomery attorney Jimmy McLemore who joined AHFA in September 2015.
John Harrison Retired in June as Alabama's Longest Serving Superintendent of Banks

Ending 11 years and 44 days as Alabama's Superintendent of Banks, John D. Harrison retired June 30 following a 36-year career in banking. 

A native of Selma, Harrison was in the timber business before entering the banking industry. He moved to Luverne in 1968 and owned Glenwood Woodyard. As a local businessman, he was an organizing director in 1980 of the First Citizens Bank in Luverne where he was later named president and CEO in 1983. 

Harrison joined the new administration of Gov. Bob Riley in 2003 as head of the Alabama Department of Economic and Community Affairs and was subsequently named Alabama's Superintendent of Banks in May of 2005. 

His successor is expected to be named in early July.

By virtue of his position, Harrison served as an ex officio member of AHFA's Board of Directors. Please join the AHFA board and staff in extending John Harrison congratulations on his retirement and appreciation for his dedicated service to Alabama. 
Grand Opening & Ribbon Cutting Held for Elderly Housing Development in Eufaula

A grand opening for Eufaula Estates in Eufaula was held June 20. The rehabilitation of the 53-unit development was financed in part by more than $400,000 in Housing Credits administered by AHFA.
New Hardest Hit Alabama Marketing Campaign Coming Soon 

AHFA was behind the scenes in Montgomery when homeowner Cherea Crayton filmed her testimonial for a new Hardest Hit Alabama advertising campaign.

A foreclosure prevention program funded by the U.S. Department of Treasury, HHA has helped thousands of Alabamians. 

Hardest Hit Alabama
HHA offers programs including mortgage payment assistance for unemployed or underemployed homeowners, as well as loan modification and short sale options for borrowers facing financial hardships.

Visit www.hardesthitalabama.com for full program details and eligibility requirements.
AHFA Offices to Close for July Holiday

The AHFA, ServiSolutions and Hardest Hit Alabama offices will be closed Monday, July 4 in observance of the Independence Day holiday. 

We will reopen at 8 a.m. on Tuesday, July 5.
Alabama Housing Finance Authority | 334.244.9200 | Email | Website
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