By statute, AHFA is governed by a Board of Directors that provides policy direction, authorizes bond issues and program development, and evaluates AHFA's efforts. Its members serve staggered seven-year terms. The governor appoints one person from each of the seven congressional districts — two home builders, two real estate brokers, a lender, a mayor and a county commissioner — and one person from the state at large. The lieutenant governor and speaker of the house each appoint two members. The state finance director, treasurer and superintendent of banks serve as ex officio members.
Robert L. Smith, Chairman
Michael C. Toles, Vice Chairman
Carolyn Norman, Secretary
James W. Rutland, IV, Treasurer
Shelton E. Allred
Blake Corder
Joshua Dean
Annie Furrer
Adam Harris
Bobby Herndon
Glenn Horton
Ray Long
Young Boozer, ex officio
Mike Hill, ex officio
Bill Poole, ex officio