Oklahoma Housing Finance Agency

Oklahoma Housing Finance Agency
Great Seal of Oklahoma
Agency overview
Formed	1975
Headquarters	100 Northwest 63rd Oklahoma City, Oklahoma
Annual budget	$186 million
Minister responsible	Dave Lopez, Secretary of Commerce and Tourism
Agency executive	Dennis Shockley, Executive Director
Parent agency	Oklahoma Housing Finance Agency Board of Trustees
Website
Oklahoma Housing Finance Agency

The Oklahoma Housing Finance Agency (OHFA) is a non-profit organization which serves the people of Oklahoma by offering affordable housing resources, including loans and rent assistance. OHFA was created by an Executive Order by Governor of Oklahoma David L. Boren in 1975. OHFA is a public trust with the State of Oklahoma as the beneficiary. The Trust was established to better the housing stock and the housing conditions in the State of Oklahoma and administers the Section 8 housing program for the State.

While it is affiliated with the State of Oklahoma, OHFA does not operate using legislative funds.

Leadership

The Housing Finance Agency is overseen by the Secretary of Commerce and Tourism. Under Governor of Oklahoma Mary Fallin, Dave Lopez is serving as the Cabinet Secretary. Day to day operations of the Agency are under the direction of the OHFA Executive Director. Dennis Shockley is currently serving as the Executive Director, having served in the postition since 1997.

Board of trustees

OHFA is governed by a five member Board of Trustees appointed by the Governor of Oklahoma. The five members serve staggered five year terms. The Governor also appoints one additional member to the Board who is a resident of public housing.

As of May 2011, the Board of Trustees is as follows:

Office	Incumbent
Chairman	Richard Lillard
Vice Chairman	Joe Shockley
Secretary-Treasurer	Steve Ganzkow
Trustee	Debbie Blackburn
Trustee	Charles P. Rainbolt
Resident Member	Erma Williams

The Board of Trustees appoints an Exeuctive Director to run OHFA. The current Executive Director is Dennis Shockley, who has served in that position since 1997.

History

OHFA started with 12 district field agents hired to implement the Rental Assistance program. OHFA has since grown to a multi-million-dollar agency with over 100 employees administering nine housing programs. From the manual days of processing paperwork to automated computer days, OHFA has grown from helping 3,500 families annually to helping over 25,000 with 11 different housing programs in recent years.

Functions

Through the OHFA Advantage program, OHFA works with participating mortgage lenders to provide 30-year fixed-rate loans through OHFA Advantage (state bond money) at below market rates. The most popular type of loan offers down payment and closing cost assistance. OHFA also offers new construction loans. Housing Development programs such as Affordable Housing Tax credits and the HOME Investment Partnerships program help non-profits and communities to build and revitalize affordable housing.

OHFA administers the Housing Choice Voucher program for low-income individuals and families in need of assistance in paying rent.

Organization

• OHFA Board
  • Executive Director
    • Administration Division - responsible for providing central administrative services to the Agency
    • Rental Assistance Division - responsible for administering OHFA's statewide Section 8 Rental Assistance Program, which provides assistance to low-income families
    • Finance Division - responsible for overseeing all Agency financials and audits
    • Housing Development Division - responsible for implementing the Housing Tax Credits Program, HOME Program, Housing Trust Fund, OHFA Advantage bond program, Rural Linked Deposit and Performance Based Contract Administration

Awards

OHFA has been recognized with an Oklahoma Quality Award and is a member of the National Conference of State Housing Agencies.

Links

• Oklahoma Housing Financce Agency official website
• National Council of State Housing Agencies website
• State of Oklahoma official website