New York State Housing Finance Agency

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The New York State Housing Finance Agency (HFA) was created in 1960 as a public benefit corporation for the purpose of providing safe and sanitary housing accommodations at rental rates affordable to persons and families of low income. The HFA issues bonds to investors, which it then uses to fund mortgage loans to housing companies and other eligible borrowers.

The agency is authorized to fund mortgages to a variety of entities in the public interest, such as non-profit housing companies, owners of multifamily federally-aided projects, nursing home companies, and community senior citizens centers. They are also authorized to make equity loans to mutual housing companies and certain other corporations.

The membership of the agency is appointed by the Governor of New York, with the advice and consent of the Senate.