Director Of Mortgage Servicing Wyoming Community Development Authority
CurrentSelf-Supporting State ResourceWCDA was created by state statute as a corporate entity, operating as an instrumentality of the state that receives no state funding. WCDA raises capital for the mortgages it provides by selling mortgage revenue bonds to investors. Since the interest paid to bond holders is generally exempt from federal income tax, investors accept a lower rate. The WCDA passes these savings on to homebuyers by providing mortgages at below-market interest rates. The homebuyers’ mortgage payments repay the bonds.In addition to administering the Single Family loan program, WCDA also manages several federal rental housing development programs; the Low Income Tax Credit Program (LIHTC), the HOME Investment Partnership Program (HOME), the National Housing Trust Fund (NHTF), and the Neighborhood Stabilization Program (NSP). These programs have been utilized to develop more than 5,000 affordable rental units across Wyoming. WCDA services more than 14,000 loans purchased through the Single Family loan program, as well as dozens of loans we originated for the development of rental properties. WCDA’s loan servicing philosophy is to actively assist those experiencing hardship by offering payment solutions that may help them avoid foreclosure.REO, Construction, Finance, IT, Marketing, Compliance, Human Resources, and Administrative staff provide the much needed service and support to allow our customer-based homeownership, rental, and servicing activities to flourish. Each and every WCDA employee contributes daily to the WCDA mission of assisting our fellow Wyoming citizens attain quality and affordable housing.
