May 11, 2007
BATON ROUGE— Thomson Financial, a major provider of information to the business community, has ranked the East Baton Rouge Mortgage Finance Authority as the third most productive local housing finance authority in the nation in terms of bond issues sold.
“Our third-place national ranking by Thomson Financial demonstrates how effective the East Baton Rouge Mortgage Finance Authority has been in achieving our mission of helping parish residents buy their own homes,” said Astrid R. Clements, chairperson of the EBRMFA. “Thousands of Baton Rouge families have relied on us to help purchase their first homes.”
The Thomson Financial rankings were of 50 local housing authorities across the United States that issue bonds to provide mortgages for homebuyers—often first-time homeowners. The rankings involved bonds issued between Jan. 1, 1979 and Jan. 30, 2007. Thomson Financial listed the EBRMFA as having sold $1.175 billion in bonds for financing more than 14,700 mortgages during the sampling period. The ranking included local housing finance authorities in major cities such as Houston, Los Angeles, Pittsburgh, Dallas, Denver, Miami, Orlando and Minneapolis-St. Paul.
Since its founding in 1974, the EBRMFA has provided below-market-rate mortgages to more than 14,700 low and moderate income homebuyers in East Baton Rouge Parish. On top of providing reduced rates on interest, the EBRMFA further helps homebuyers by offering assistance with down payments and closing costs.
The EBRMFA also contributes to the community through a variety of grants and joint ventures related to housing and neighborhood development. The EBRMFA is self-supporting and has never received any appropriation of funds from any governmental agency.