Mike Hill Appointed as Alabama Banking Superintendent

Mike Hill was recently sworn in as superintendent of the Alabama State Banking Department. He succeeds John Harrison, who retired in June.

A graduate of Auburn University, Hill was formerly the vice president of commercial lending for Central State Bank in Calera. He attended both the Graduate School of Banking of the South at Louisiana State University as well as the Commercial Lending School at the University of Oklahoma. 

In addition, Hill was elected to the Alabama Legislature in 1986 and served on the committee that handles banking legislation throughout his 30 years as a lawmaker.

"I'm excited and very pleased that the governor felt comfortable appointing me to serve in the capacity of state banking superintendent. Following John Harrison is sort of like following Bear Bryant," Hill said. "I've worked with the banking department for years and am excited to lead it. I am honored that the governor has added me to his cabinet to regulate and oversee one of the most important industries in the state."

In addition to his other duties as superintendent of banks, Hill will serve as an ex officio member of AHFA's Board of Directors. Please join the AHFA board and staff in welcoming Hill.
Congratulations to our #LendersTakeASelfie 2016 winner!

More than 1,900 votes were cast in our #LendersTakeASelfie contest, and the winner is Julia McCreight of Auburn Bank, and her customers, Jason and Kaitlin Smith of Opelika! 

Julia and the Smiths (who used the slogan "If you ain't tagging, you ain't trying!") rallied their
friends and family to garner an impressive 894 votes on their selfie. Thank you to everyone who participated and/or voted! The contest was a great way to raise awareness about our Step Up program and celebrate National Homeownership Month in June.
But...the winning doesn't have to end! Keep posting #LendersTakeASelfie pictures to our Facebook page throughout the year, and we will randomly select lenders and send them a special gift. It's just another way for us to recognize our supportive Step Up lenders!
Comments Accepted on 2016 National Housing Trust Fund & Amended 2016 HOME Program Allocation Plans

AHFA & Alabama Department of Economic and Community Affairs (ADECA) accepted comments through July 26 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 (HTF) 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 addressed 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.  

Final decisions regarding proposed changes will be determined based on comments received. 

For more information: http://bit.ly/2a9guBD

Lender Spotlight:
Julia McCreight | AuburnBank, Auburn

Julia McCreight is a name you should know if you follow us on Facebook. That's because she was the winner of our recent #LendersTakeASelfie contest! Julia's selfie with Jason and Kaitlin Smith's family got nearly 900 votes, and won Julia a $1,000 gift card as well as a $1,000 gift card for the Smiths. Julia has been in the mortgage business for more than 30 years, and has been with AuburnBank for 26 years.
Q: How did you hear about AHFA programs?
A: I was researching new loan programs for AuburnBank's mortgage loan department using the internet and checking with other lenders. I have always wanted to have loan programs that help a first time homebuyer purchase a home. And not only first time homebuyers, any customer that needs a loan product that has more flexibility than your conventional 20% down payment requirement.

Q: What do you think is the greatest benefit of Step Up?
A: The greatest benefit is the 100% financing, which allows people who are credit worthy but have not been able to save a down payment to purchase a home. I have closed loans for customers who have rented for years because they thought they had to have a 20% down payment to buy a home.

Q: What do you enjoy most/find most rewarding about your job?
A: I love my job, but the most rewarding thing is to help people buy their first home. It is so exciting to see the look on their face when I tell them they can qualify for a mortgage loan and can move forward to find a home. I have reached out to Realtors to promote this program and educate them that people can get 100% financing, which allows them to serve more customers that want to buy a home but do not have a down payment yet. I have had customers who have rented for years and had past hardships who wanted to buy a home so bad, but were unable to save for a down payment. Their rent payment would be more than their new house payment. They are so proud and grateful to me for helping them. It just gives me pride to know that I have helped fulfill customers' dreams of being a homeowner! 

AHFA Welcomes New Lender to MCC Program

AHFA is honored to welcome America's First Federal Credit Union as a participating MCC lender in the Birmingham area.

A Mortgage Credit Certificate (MCC) reduces the amount of federal income tax homebuyers must pay, which in turn frees up income to qualify for a mortgage. Borrowers can claim a tax credit up to 50 percent of the mortgage interest paid per yer, capped at $2,000 annually. It is a dollar-for-dollar reduction against a borrower's federal tax liability.
HHA Helped Center Point Homeowner Transition From Unemployment to Employment Without Skipping a Single Mortgage Payment

Sharon Jones of Center Point was successfully supporting herself and her two daughters when she was unexpectedly let go from her job of more than 20 years. Jones was unemployed for 10 months before she was able to secure another job.

During the entire time, Hardest Hit Alabama, a federal foreclosure prevention program, took care of the mortgage payments for the home she has owned for the last 16 years. Jones said, "The program gave me the opportunity to transition from being unemployed to being employed without skipping a mortgage payment."

Read more of Sharon Jones' story: http://bit.ly/29VbvEi
Commercials Created for New Hardest Hit Alabama Marketing Campaign Airing Now

We are excited to announce that Hardest Hit Alabama has new television and radio advertisements running in various media markets throughout Alabama. The new spots feature testimonials from actual HHA customers, including homeowners Cherea Crayton of Montgomery and Rich Cantwell of Huntsville.
Homeowner Cherea Crayton filming in Montgomery in June.

The new television spots can be viewed on AHFA's YouTube channel.

HHA has helped thousands of Alabamians, and 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.

Cobblestone Village Residents Enjoy Convenient Community Living in Clanton

Located just minutes off of Interstate 65 in Clanton, Cobblestone Village opened in early 2016. The development, which received more than $812,000 in Housing Credits from AHFA in 2014, is targeted to seniors 55 and older. Five percent of the units in the 56-unit development were designed and constructed to be readily accessible to individuals with mobility impairments.

Managed by Gateway Management Company, the development has a long list of amenities including a clubhouse/community building, picnic area with grills, gazebo, covered bus stop, computer center, exercise/fitness room, and units come with washer and dryer, storm doors, and an emergency pull cord/button. 

Virginia Garrick was the first resident to move into the newly constructed development. She said, "I was watching the day they started pouring the cement, and I called every day after to see when it was going to be ready." Garrick, who spends most of her time tending to plants and seasonal decorations on her front porch, credits the community environment at Cobblestone Village with pulling her out of a post-cancer depression. She said, "It made a whole turnaround to my life, health wise and everything. It's my little abode, and I love it."

Read more resident stories from Cobblestone Village: http://bit.ly/2a9BSGi
Customer CareNet Option Provides 24/7 Online Account Management

ServiSolutions customers can manage their accounts online via the Customer CareNet (CCN) service available at www.ServSol.com.

CCN allows customers to make payments, review statements, view basis loan balances, get account notifications and much more. Plus, CCN is mobile friendly!
AHFA Offices to Close for Labor Day

The AHFA, ServiSolutions and Hardest Hit Alabama offices will be closed Monday, September 5 in observance of the Labor Day holiday.

We will reopen at 8 a.m. on Tuesday, September 6.

Please make a note of this date.
Alabama Housing Finance Authority | 334.244.9200 | Email | Website

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