William G Dews, Chief Financial Officer
Georgia Housing & Finance Authority
Georgia Housing & Finance Authority
Learn about Georgia Housing & Finance Authority including our News & Press Releases and Team.
Talk to us
Have questions? Reach out to us directly.
Learn about Georgia Housing & Finance Authority including our News & Press Releases and Team.
About Georgia Housing & Finance Authority
- S&P Bond Rating
- AAA
- Bonds Payable (as of 12/23)
- $1.547 Billion
The Georgia Housing and Finance Authority was created in 1991 as a body corporate and politic and is deemed an instrumentality of the State and a public corporation performing an essential governmental function. The Authority was created to replace the Georgia Residential Finance Authority and to assume all operations, rights, powers, duties, obligations and liabilities of the Georgia Residential Finance Authority, which was created in 1974. Under the Act, the purposes of the Authority, among others, are the provision of public financing and financial assistance for: (i) housing designed or financed for the primary purpose of providing safe, decent, energy efficient, appropriate, and affordable dwelling accommodations for persons and families of low or moderate income and (ii) the financing of mortgage loans made for the purposes described in clause (i) or participations therein and the underwriting, servicing and administration of mortgage loans made for the purposes described in clause (i) or participations therein.
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Team
William G Dews
Chief Financial Officer
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Wesley Brooks
Deputy Commissioner of Homeownership
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David Sullivan
Senior Director of Bond Finance
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Nathan Christiansen
Director of Bond Finance
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Our Single Family Program
Single-Family Mortgage Revenue Program
The Single-Family Mortgage Revenue Program accounts for proceeds of single-family mortgage bonds issued to finance the purchase of single-family mortgage loans for eligible persons and families of low and moderate income within the State of Georgia. Substantially all single-family mortgage loans made or purchased by the Authority are insured under programs offered by the Federal Housing Administration ("FHA") or Veteran's Administration ("VA"). The Authority also makes or purchases loans with conventional insurance and has a small group of uninsured loans. The Single-Family Mortgage Revenue Program includes the Georgia Dream Program described below:
The Georgia Dream Program
The Georgia Dream Program enables the Authority to finance the purchase of housing by Georgia families of low or moderate income. The Authority is authorized to issue tax-exempt revenue bonds to raise funds, the proceeds of which are used to make qualified mortgage loans for eligible persons and families. The bonds are to be repaid from collections of scheduled repayments and prepayments of mortgage loans. The Authority is further authorized to issue taxable revenue bonds, the proceeds of which are used to make loans that are not otherwise qualified under the tax-exempt MRB rules. All bonds are direct obligations of the Authority and not a debt of the State or any political subdivision thereof. The Authority's bond issuance capacity at June 30, 2023 was $3,000,000,000 in connection with the Georgia Dream Program.
Click here for more information on our single family program.
Talk to us
Have questions? Reach out to us directly.