The Alabama Housing Finance Authority is established by an act of the Alabama Legislature as a public corporation to create housing opportunities for low- and moderate-income citizens.
AHFA issues its first tax-exempt mortgage revenue bonds, providing $150 million in financing at 11 percent interest for 3,036 first-time home buyers.
AHFA completes its first multifamily bond issue, financing 416 units at an approximate cost of $13 million.
Transition is made to in-state single-family loan administration.
AHFA surpasses $1 billion mark in single-family mortgage revenue bonds issued.
AHFA offers its first single-family mortgage revenue bond issue with a rate below 8 percent.
AHFA's Board of Directors hires an executive director.
Accounting division is created.
AHFA establishes compliance program for multifamily projects.
AHFA generates first private placement of single-family bond issue with Fannie Mae.
AHFA begins administration of federal Low-Income Housing Tax Credit (LIHTC) program and finances first developments.
Single-family division is created.
All accounting and investment functions are brought in-house.
AHFA institutes the Mortgage Credit Certificate (MCC) program to provide federal tax credits to qualified homeowners.
Multifamily division is created.
First annual report is published.
AHFA assumes responsibility for administration of all single-family loans purchased through its bond issues.
AHFA creates the Down Payment Assistance Program to provide interest-free loans to families who earn less than the state's median income.
AHFA begins in-house arbitrage rebate calculations.
Administration of whole loan issues is brought in-house from two firms.
Single-family division creates first-come, first-served reservation system to make funds more readily available throughout the state.
AHFA purchases 25,000th MRB loan.
AHFA assumes responsibility for writing the state's first Comprehensive Housing Affordability Strategy (CHAS) and developing a five-year plan to address Alabama's housing needs.
First "Building Blocks to Homeownership" seminars are offered, providing new and prospective home buyers with information on money management, consumer credit, financing tools and other topics.
AHFA begins developing the HOME Investment Partnerships Program, a new federally funded housing program, for the state of Alabama.
AHFA's accounting division becomes first in the nation to submit quarterly disclosure reports to various rating agencies.
AHFA develops the Habitat for Humanity Loan Purchase Program, the first of its kind in the nation, and dedicates $1 million to the project.
AHFA participates in nationwide campaign to win permanent federal extension of MRB and LIHTC programs.
AHFA awards first commitments of Alabama HOME funds in 12 counties, financing 568 units with the state's $14.686 million allocation.
AHFA-administered LIHTC program funds construction of 10,000th housing unit.
Research and planning division is created.
Accounting division receives awards of merit presented by the National Council of State Housing Agencies recognizing its quarterly disclosure reports for single- and multifamily bond issues.
AHFA makes available $40 million in mortgage revenue bond loans at its lowest mortgage interest rate ever--5.79%.
AHFA becomes one of the first state housing finance authorities to earn a general obligation rating, obtaining an "A" rating from Moody's Investors Services for overall creditworthiness.
Communications department brings production of all publications in-house and earns top award for program excellence from the National Council of State Housing Agencies for AHFA's quarterly newsletter, Thresholds.
Single-family homeownership programs exceed $2 billion.
Funding and delivery of closed loans is brought in-house.
AHFA offers 100% financing in 24 counties to disaster victims displaced by tornadoes, flooding and windstorms.
LIHTC program reaches $500 million milestone in construction activity generated.
AHFA dedicates a second $1 million to its Habitat for Humanity Loan Purchase Program.
AHFA participates in the development of Alabama's first Consolidated Plan, which provides a comprehensive look at affordable housing and community development needs, priorities and strategies.
First combined cycle for HOME and housing credit funds is held.
A new promotional campaign recognizing outstanding customer service finds immediate success with AHFA's participating lender network.
Communications department earns top award for program excellence from the National Council of State Housing Agencies for AHFA's MRB brochures targeting potential home buyers.
AHFA commemorates its success in providing "A Firm Foundation for Fifteen Years."
AHFA leads coalition to create the Access Alabama program, making homeownership an option for lower-income people with disabilities.
Alabama Home Builders' "Little House Under Construction" exhibit, sponsored by AHFA, begins traveling the state to teach children about the construction industry.
AHFA and the Alabama Bankers Association unite to create the Alabama Multifamily Loan Consortium.
AHFA offers no-down-payment mortgages to storm victims in a record 39 of 67 counties in the aftermath of spring tornadoes and Hurricane Opal.
AHFA employees participate in week-long "Blitz Build" of 10 Habitat homes.
State's homeownership rate hits a 12-year high, due in part to AHFA's affordable housing programs.
AHFA solidifies outreach to Hispanic population through publication of Spanish-language brochures.
AHFA begins sponsoring a "School-to-Work" program with Montgomery Public Schools, training high school students in vocational skills through construction of Habitat homes.
AHFA institutes annual "Manager of the Year" award to recognize outstanding service at its multifamily developments.
Communications department recognized by the National Council of State Housing Agencies for its federal legislative campaign to adjust MRB and housing credit caps.
Now 42 members and $21.2 million strong, the AHFA-led Alabama Multifamily Loan Consortium closes its first loan for affordable apartments.
AHFA's commitment to the pioneering Habitat for Humanity Loan Purchase Program reaches $5 million mark.
AHFA purchases the 100th loan through its Habitat for Humanity partnership.
MRB program serves its 40,000th Alabama family.
Moody's Investors Service upgrades AHFA's general obligation rating to Aa3.
AHFA launches the Rural Alabama Mortgage Program (RAMP), which uses small rural and community banks as loan originators for MRB loans and supplies affordable mortgage financing in rural markets where access to mortgage lenders traditionally has been limited.
In alliance with the Home Builders Association of Alabama, AHFA implements the Rehab Assistance Partnership (RAP) for home repair, weatherization and access modification and commits $500,000 in mortgage financing for low-income homeowners.
Alabama's homeownership rate reaches 15-year peak of 74.8 percent, bolstered by AHFA's affordable housing programs.
AHFA celebrates its 20th anniversary and service to more than 78,000 Alabama families.
Third "School-to-Work" Habitat home built in part by Montgomery high school students benefits from AHFA funds.
AHFA institues "Processor of the Year" program to recognize top single-family loan processing performance.
AHFA's new Rehab Assistance Partnership (RAP) offers interest-free loans up to $10,000 to low-income homeowners for basic renovations through local home builders associations. The AHFA-led initiative was named "Best Community Service Project" by the Executive Officers Council of the National Association of Home Builders.
Communications department earns fourth award for program excellence from the National Council of State Housing Agencies for AHFA's quarterly newsletter, Thresholds.
AHFA unveils the new Step Up program, making Alabama the first state to provide $100 million in mortgage funds and down payment assistance for moderate-income home buyers.
AHFA dedicates a seventh million dollars to its pioneering Habitat for Humanity Loan Purchase Program.
In response to the state's settlement of the longstanding Wyatt v. Sawyer legal case, AHFA agrees to commit a major portion of its HOME and Housing Credit allocations for two years to building housing for more than 600 clients of the Department of Mental Health/Mental Retardation.
To explain the history and remove the mystery of federal recapture tax, AHFA distributes a detailed brochure to mortgage lenders, home builders, and Realtors.
A three-way partnership uniting AHFA's Mortgage Revenue Bond program, New South Federal Savings Bank's mortgage origination services, and USDA Rural Development's Guaranteed Loan Program offers 100 percent financing to potential buyers in eight rural Alabama counties.
AHFA institutes Lender Online, a web-based loan reservation and tracking system, and eliminates the need for phone-in loan reservations.
The pioneering Habitat for Humanity Loan Purchase Program reaches commitment of $10 million and celebrates 10 years of successful partnership between AHFA and Alabama's Habitat affiliates.
The Down Payment Assistance Program is expanded to include Rural Development loans.
AHFA concludes two-year HOME initiative for individuals with mental disabilities, funding more than 500 units of supportive housing.
AHFA and the Fannie Mae Foundation form the Homeownership Consortium of Alabama, a housing counseling collaborative focusing on standardization for housing counseling agencies.
Sixteen AHFA employees participate in Habitat for Humanity's Jimmy Carter Work Project in Anniston, Ala., building 35 houses with the former U.S. president and thousands of volunteers.
AHFA publishes a comprehensive demographic analysis, entitled Sweet Home Alabama: A Census-based snapshot of Selected Housing Conditions.
Step Up mortgage loan rates drop as low as 5.02%.
AHFA's efforts to resolve Alabama's Wyatt v. Sawyer lawsuit were honored by the National Council of State Housing Agencies and the National Alliance for the Mentally Ill of Alabama. In its 2001 and 2002 multifamily funding cycles, AHFA provided affordable housing for more than 600 individuals with mental illness.
AHFA, in partnership with USDA Rural Development, launches a re-designed Rural Alabama Mortgage Program to provide low-interest financing in Alabama's rural counties.
Mortgage Credit Certificate program relaunched.
AHFA begins offering the American Dream Downpayment Initiative (ADDI) to reduce the first mortgage loan’s principal balance by $10,000 for first-time, lower-income home buyers.
AHFA translates its single-family program brochures into Spanish and creates a Spanish-language section of its web site to meet the needs of this growing population.
AHFA makes a record one-day purchase of nine mortgage loans from a single Habitat affiliate, making the holidays happier for nine Birmingham families.
In-house servicing department is created to manage a portfolio of AHFA loans formerly held by third-party servicers. Creation of this department, designed to keep AHFA loan servicing within the state, also has saved 20 jobs for Alabamians.
Hurricane Katrina ravages South Alabama, leading AHFA to offer vacant multifamily units financed with AHFA-administered Housing Credits and HOME funds as temporary housing for displaced individuals.
AHFA simplifies its Step Up down payment assistance program, removing the cap on liquid assets and instituting a single, statewide income limit of $97,300.
AHFA receives $15.6 million in additional Housing Credits to aid the area's of Alabama hardest hit by Hurricane Katrina, a result of the Gulf Opportunity Zone Act of 2005.
Delegated Examiner option announced for Step Up lenders, giving lenders opportunity to perform in-house underwriting to speed the loan approval process.
Albertville's Anglea Meadows Apartments, financed in part by AHFA-administered Housing Credits, recieves the 2006 Community Impact Best Practices "Right Stuff" award for its work providing affordable housing for special needs residents in the Marshall County area.
Moody's Investors Service upgrades AHFA's issuer rating to Aa2.
In-house servicing department celebrates 10,000 loans in its portfolio and receives designation as a Tier 1 Servicer from the U.S. Department of Housing & Urban Development.
AHFA begins partnering with Genworth to offer borrowers no-cost involuntary unemployment insurance and recapture tax protection.
AHFA marks highest annual production ever with more than $300 million in single-family loans reserved and more than $53 million in multifamily program funds allocated, serving a total of 8,200 families.
During its annual HOME/Housing Credit application cycle, AHFA receives a record 92 applications for consideration.
On behalf of the State of Alabama, AHFA is designated to administer the Housing Trust Fund, created by the Housing and Economic Recovery Act of 2008.
AHFA's website is honored with a Silver ADDY award by the American Advertising Federation-Montgomery.
Staffers from AHFA volunteer their time and labor to assist with Alabama's 1,500th Habitat for Humanity house.
Utilizing federal stimulus funds, AHFA allocates $31.9 million in Tax Credit Assistance Program funds and $50.5 million in Tax Credit Exchange Program funds to aid Housing Credit-financed developments that were unable to secure equity commitments in a slow economy.
AHFA surpasses 400 loans purchased through the Habitat for Humanity Loan Purchase Program
ServicingSolutions is created to expand AHFA's loan servicing department to include other originators.
Jordan's Gate, a 48-unit AHFA-financed development in Opelika, is named as a winner of the 16th Annual Charles L. Edson Tax Credit Excellence Awards.
To aid unemployed homeowners, AHFA is approved by U.S. Treasury to administer $162.5 million of the Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets.
AHFA introduces Hardest Hit Alabama, a foreclosure-prevention program for unemployed and underemployed homeowners across the state.
Tornadoes and straight-line winds bisect Alabama, leading AHFA to offer vacant multifamily units financed with AHFA-administered Housing Credits as temporary housing for displaced individuals.
AHFA's mortgage servicing department, under the trademarked name ServiSolutions, is approved to act as Master Servicer for the Washington State Housing Finance Commission.
Step Up exceeds $1 billion in total mortgage loans (an estimated 8,600 households) financed after 12 years of operation.
The Habitat for Humanity Loan Purchase Program celebrates its 500th loan purchase.
ServiSolutions becomes Alabama's largest residential mortgage servicer, with the addition of loans from the Missouri Housing Development Commission.