BOISE - For 15 consecutive years, the Idaho Housing and Finance Association has consistently been a top-five national leader in mortgages made per capita, thanks to strong management and loan-servicing commitment. Since 1987, IHFA has often ranked first, and has never ranked lower than fifth nationally for low-interest mortgage loans financed per capita for its state's citizens, according to national bond-monitoring organizations. During this 15-year period, IHFA has assisted nearly 38,000 Idaho households finance their home, with an investment of nearly $2.5 billion.

"Combining low-interest rate loans with solid customer service has kept IHFA near the top in loan dollars per citizen for more than a decade and has also helped Idaho establish the fifth-best home ownership rate in the country, at 72.4 percent," said IHFA President and Executive Director Gerald Hunter. "We have a responsibility to expand home ownership in Idaho. We take that seriously."

Last year, IHFA invested $190.9 million in Idaho’s economy to assist 2,371 first-time or low- to moderate-income home buyers with the purchase of a home. Since IHFA started issuing Mortgage Revenue Bond (MRB)-funded loans in 1978, the Association has invested nearly $2.8 billion to assist nearly 47,000 home buyers. In 1978, IHA began issuing tax-exempt MRBs. The bonds are sold to investors in Idaho and nationally to make below-market interest rate mortgages available to qualifying home buyers.

Maintaining this leadership position for 15 years can be traced back to several key factors. "We have built an outstanding reputation in national capital markets, and that translates into consistently lower interest rates for Idaho's first-time home loan borrowers," said IHFA

Chief Financial Officer, and Vice President of Administration John Sager. In addition, IHFA’s program is driven by demand, Sager said, which "works to sustain the momentum of real estate professionals and lenders we work with, and ensures that we will make a continuous supply of lending money available."

Ansel Duvivier, an analyst with Moody’s Investors Service, attributes the sustained excellence to IHFA management. "The management team really 'gets it' — they understand their role, are fundamentally sound and in tune with the needs of the State. IHFA is one of the more

sophisticated clients among all the housing agencies we work with. They are very committed to the loan-servicing process and are innovative in making that work. The strength of management has always been a key factor in IHFA’s ability to remain at the top."

Vincent Barberio, Senior Director at Fitch Ratings, an international financial ratings agency, agrees that IHFA’s comprehensive program leads the way. "The Association has developed a highly efficient home ownership lending program. The combination of a continual lending program and a systematic bond market funding plan, allow it to offer first-time homebuyers year-round access to below market rate mortgages."

Along with Idaho, the top mortgage loan-investment housing agencies nationwide (based on dollars per capita) are Alaska, Wyoming, and North and South Dakota.