The National Council of State Housing Agencies (NCSHA) recently presented MassHousing with three awards at its annual conference in New Orleans.
MassHousing received an award in the homeownership category for its work empowering new buyers. The group partnered with Fannie Mae to offer a MassHousing Mortgage to low- and moderate income homebuyers that does not require mortgage insurance. Under this program, loan production rose to $1.1 billion in calendar 2012, which was approximately 100 percent higher than the previous record high year of 2009. Originations at record-high levels continued in fiscal year 2013, which ended on June 30. MassHousing originated approximately $1.3 billion in residential mortgages-an agency record in a fiscal year.
MassHousing also received a special achievement award for its work in addressing hoarding. The state agency has undertaken a series of initiatives by partnering with professionals in fields including housing, social work, academia and health care to address this issue. MassHousing has also established a Statewide Steering Committee on Hoarding (SSCH).
MassHousing earned its third NCSHA award for management innovation in Finance for its financing strategy that allowed the Boston-based Preservation of Affordable Housing (POAH) to purchase six affordable housing communities in Boston, Brewster and Hudson using $168 million in MassHousing loans.
"We are honored that NCSHA recognized the innovative and diverse work we are doing here at MassHousing," MassHousing Executive Director Thomas Gleason said in a statement. "These awards highlight the efforts we make every day to provide quality mortgage products to Massachusetts homebuyers and homeowners, to provide nimble and innovative financing for the production and preservation of low-cost rental housing, and for the services we provide to residents of affordable rental housing."