OklaHOME: Oklahoma Housing Finance Agency's 2023 Annual Report

Oklahoma Housing Finance Agency employees work toward the common goal of providing housing resources with an eagerness to serve. While each OHFA-administered program operates independently, they are often woven together. Programs intersect to create safe and affordable homes for Oklahomans in every corner of the state.

Access to affordable housing provides a foundation for individuals to thrive and improve their overall well-being. Housing is a fundamental need and a key determinant of health and success. We are grateful for the role we play each day in providing housing stability for Oklahoma families.

OHFA's 2023 Annual Report highlights strides made by our agency this past year.

-Deborah Jenkins, Executive Director

OHFA Operations Return to Renovated Building

In 2023, Oklahoma Housing Finance Agency team members returned to our newly remodeled home at the corner of N.W. 63rd and the Broadway Extension. For the first time in more than two years, we are all under the same roof - collaborating and working together for a singular goal: creating housing opportunities for the residents of the State of Oklahoma. Since OHFA first opened its doors in 1976, our team has worked diligently to open doors to homes in Oklahoma. This is our OklaHOME.

State Legislature Passes $215 Million Oklahoma Housing Stability Program

When the Oklahoma State Legislature passed HB 1031X in a special session at the end of June, we rolled up our sleeves and went to work drafting a blueprint for the Oklahoma Housing Stability Program. With $215 million allocated for new construction of for-sale houses, multifamily rental communities, and down payment assistance, this represents the state's largest-ever allocation of state dollars dedicated to housing production. In early 2024 the program is up and running and accepting applications from housing developers.

Bobbi Holliday, a lender with Stride Mortgage in Woodward joins OHFA staff members at the Oklahoma Housing Stability Program input session in Woodward. Pictured, from left: Danette Carr, Valenthia Doolin, Holliday, Deborah Jenkins, Darrell Beavers, Corey Bornemann, and Kurt Fite.

OHFA Utilizes Public Input to Create Blueprint for Housing Stability Program

Beginning in July, we traveled the state, gaining public insight and feedback regarding the Oklahoma State Legislature-approved $215 million Oklahoma Housing Stability Program. While each community has different housing needs, we heard the same feedback time and time again. Oklahoma needs more homes for residents all across the state.

In the state's largest investment into the housing market to date, the State Legislature passed the Oklahoma Housing Stability Program.

Drafting the program from scratch, we met with residents and housing professionals to form the program's blueprint. From Woodward to Durant and McAlester to Tahlequah, OHFA representatives listened to the needs of each community.

In December, OHFA's Board of Trustees voted to send draft emergency rules and applications to Governor Kevin Stitt for consideration.

"The Housing Stability Program represents the state's largest investment into the creation of homes for Oklahoma families in state history," said Deborah Jenkins, OHFA executive director, "We are eager to see the impact of this program."

Housing Stability Program Input Sessions

Through public input sessions, community meetings, and an online message board, OHFA heard from housing professionals and community members interested in seeing this new program take shape.

OHFA Programs Provide the Key to Achieving Dream of Homeownership

OHFA's Down Payment and Closing Cost Assistance program opened the doors to homeownership for 2,030 Oklahomans this past year. OHFA also created homeownership opportunities through Housing Choice Voucher Homeownership and the HOME Investment Partnerships Program.

Brooke, a recent college graduate, stands in front of her new home. OHFA's down payment assistance made it possible for Brooke to purchase a home without depleting her savings account.

Recent College Graduate Purchases Home with Help of OHFA Down Payment Assistance

Brooke can count a lot of roles as part of her resume - college graduate, cosmetologist, and Realtor. Her first closed deal as a Realtor came as close to home as you can get - it was her own.

"It was a good learning opportunity," Brooke said. "Learning all of the processes more in-depth helped me and will help me with future buyers and sellers."

After graduating college, Brooke found herself in the familiar rite of passage of determining where she would live after leaving college life behind. Ultimately she determined that purchasing a home, rather than renting, made the most sense.

"A mortgage is the same price as rent," Brooke said. "This way, I'm actually investing in my future."

Using OHFA's down payment and closing cost assistance left room in Brooke's budget for other expenses related to homeownership such as repairs and furniture purchases.

"You don't realize how expensive those things are until they start to add up," said Brooke. "I still have savings. It really helped a lot."

She shares a spacious two-bedroom, two-bath duplex with a roommate. Since becoming a homeowner, Brooke has been busy adding her personal style and touches that make it feel like home.

Down Payment and Closing Cost Assistance

Using OHFA's down payment and closing cost assistance left room in Brooke's budget for other expenses related to homeownership such as repairs and furniture purchases.

Homeownership Program Highlights

Oklahoma Housing Finance Agency's 2023 Leading Light Lending Partner award recipients include, from left, Shannon Kurtz and Yahaira Velasco, AMC/Associated Mortgage Corp.; Alba Santiago, Gateway Mortgage Group; Barb Yeary, Stride Bank; Cheyenne Buckley and Chelsea Stanford, Great Plains National Bank; and Darren Vittitow, First United Bank & Trust.

OHFA helped 2,030 Oklahoma families become homeowners this past year. Dedicated Lending Partners and Blue Ribbon Realtors make it possible.

Leading Light Lending Partner Awards were presented to representatives of the top five producing mortgage lending institutions.

First United Bank & Trust - 242 homeowners

Associated Mortgage Corporation (AMC) - 215 homeowners

Gateway Mortgage Group - 136 homeowners

Great Plains National Bank - 124 homeowners

Stride Bank - 114 homeowners

OHFA's educational endeavors keep Participating Lenders and Blue Ribbon Realtors up-to-speed regarding down payment and closing cost assistance products. In 2023, approximately 400 potential homebuyers attended 27 Homebuyer Readiness Events hosted by partnering Lenders and Realtors. These events build relationships and play a key role in the introduction of down payment and closing cost assistance.

Single Family Homeownership Impact

OHFA utilized $190 million in private activity bond cap to assist first-time homebuyers
2,030 buyers purchased a home using OHFA down payment and closing cost assistance
$180,075 - Average purchase price
$370.4 million in home loans financed in 2023
609 Realtors completed OHFA's continuing education course, becoming Blue Ribbon Realtors
142 homebuyers utilized OHFA's special loan rates for teachers, firefighters, law enforcement, EMT, and state employees
OHFA held 31 training events to keep Participating Lenders up to speed on program requirements
Approximately 400 potential homebuyers obtained information through 27 Homebuyer Readiness Events
A new version of the Daily Rates email newsletter was the winner of a Public Relations Society of America - Oklahoma City Chapter award
U.S. Bank recognized OHFA as a Peak Performer Award winner

Learn More About Down Payment and Closing Cost Assistance

Visit the Homebuyers section of the OHFA website to learn how down payment and closing cost assistance helps make homeownership affordable.

Homebuyers

Homeowner Assistance Fund Helps Save Homes from Foreclosure

The COVID-19 pandemic may seem like ancient history to some of us, but thousands of Oklahomans are still feeling its lingering effects. The Oklahoma Housing Finance Agency continues to make an impact on the lives of Oklahoma homeowners at risk of losing their homes as a result of financial distress caused by the pandemic.

Homeowner Assistance Fund Impact

Text box reads: I will be forever grateful for this program and the assistance they provided me. They saved my home. -Travis Homeowner Assistance Fund Recipient

Oklahoma Homeowner Assistance Fund Brings Stability to Homeowners

In March, OHFA hosted an online town hall. This gave applicants the opportunity to learn more about the funding process and ask questions about the grant program.

Travis purchased his home nearly 20 years ago. He paid his mortgage on time and "managed just fine." Then the COVID-19 pandemic hit. Travis writes:

"My immune system is weaker than most so I couldn’t even get out much let alone the thought of losing my home to a sheriff sale. I will be forever grateful for this program and assistance they provided me with. They saved my home I worked so many years for."

Oklahoma Homeowner Assistance Fund

OHFA continues to help Oklahoma homeowners who have been financially impacted by the COVID-19 pandemic. The Oklahoma Homeowner Assistance Fund offers up to $35,000 in grants to help Oklahomans save their homes from foreclosure.

Homeowner Assistance Fund representatives Rosa and Hally visit with attendees at the Women of Color Expo.

Learn More About the Oklahoma Homeowner Assistance Fund

Visit the Homeowner Assistance Fund section of the OHFA website to learn more about how this program helps save the homes of Oklahoma homeowners impacted by COVID-19.

Homeowner Assistance Fund

Voucher Programs Make Affordable Rent Possible

Through the Housing Choice Voucher and Performance Based Contract Administration programs, Oklahoma Housing Finance Agency helps more than 23,000 families with their rent each month. These two programs help address housing needs for low and extremely low income households.

Through the Family Self-Sufficiency Program, Housing Choice Voucher participants worked toward the achievement of personal and professional goals. Graduates of this program saved an average of $6,000 through their escrow, helping them to achieve self-sufficiency.

OHFA field agent Jack Howell, standing, meets with Northwind Estates staff and residents.

Northwind Estates Offers Affordable Rental Community for Tulsa Seniors

For more than 24 years, Jack Howell has served his hometown of Tulsa as a field agent for OHFA's Housing Choice Voucher rental assistance program. In this role, Jack performs inspections and enrolls participants in the program. Since it opened about a decade ago, Northwind Estates, located at 3355 N. Martin Luther King Jr. Blvd. in Tulsa, has become a frequent stop for Jack. Built using OHFA's Affordable Housing Tax Credits, Northwind Estates provides affordable apartments to senior citizens. About half of the community's residents receive Housing Choice Vouchers to help pay their rent.

"I grew up about a half mile from here," said Jack. "I saw the need for the people in the area to have a newer, nicer place to live that was affordable. I was excited to get people in here and keep them housed."

Property manager Trish Gardner and her staff members strive to create a welcoming, safe environment for residents. This includes offering housekeeping tips, conducting quarterly inspections, and daily drives through the property to ensure items are in working order. Such attention to detail means a lot to residents like Luke, Bernard, and Mary.

"I haven't had any problems. It's just like home to me," said Luke, a resident who proudly shared he's approaching his 96th birthday. Luke moved to Northwind Estates 12 years ago and enjoys living in the close-knit community.

Bernard moved to Northwind Estates 7 years ago. "I needed a place for me and my wife since the kids are gone," he shared. "The staff here is wonderful. They do the best possible job they could."

After moving to Tulsa from Detroit, Mary watched the construction of Northwind Estates from the patio of her nearby apartment.

"After they finished building it, I came over and filled out an application," Mary said." I like it here. It's really quiet and I feel safe here. Every time I need something the staff is here to help."

Prior to the opening of Northwind Estates, there was a lack of affordable housing in the immediate area. The need is still so great that the property maintains a lengthy waiting list, Trish shared.

By accepting the Housing Choice Voucher, Northwind Estates fulfills a great need for residents.

"People need a nice, clean, quiet place to live," said Trish. "If we can fill that gap, we are more than happy to do it."

For Jack, letting a resident know that OHFA will be helping them pay rent is a highlight of his day.

"When I sign a contract to help someone with their rent and tell them their portion they will be paying, their face lights up," Jack said.

Housing Choice Voucher Program

Northwind Estates offers a close-knit community for seniors living in Tulsa. Approximately half of the apartments at Northwind Estates are occupied by Housing Choice Voucher Program participants.

Housing Choice Voucher Program Impact

10,038 families assisted with Housing Choice Voucher rental assistance each month
$5.72 million - Housing Choice Voucher rental assistance provided each month
$573 - average amount of rental assistance
19 participants completed requirements for the Family Self-Sufficiency (FSS) program
FSS graduates saved an average of $6,008 in their escrow accounts
Three Oklahoma families purchased homes through the Housing Choice Voucher Homeownership Program
759 renters were referred to OHFA and receive Special Housing Vouchers due to extenuating circumstances
An average of 262 families in crisis receive an average of $712 in rental assistance each month with Emergency Housing Vouchers

Performance Based Contract Administration Impact

Through the Performance Based Contract Administration program, OHFA provides monitoring and payment services of assisted units to owners of project-based Section 8 properties for the U.S. Department of Housing and Urban Development in Oklahoma

OHFA provides Performance Based Contract Administration (PBCA) services to 165 properties across the state.
12,357 households receive rental assistance through PBCA
$81.2 million: rental assistance paid on behalf of PBCA residents
OHFA PBCA specialists completed 160 rent adjustments in 2023
PBCA specialists responded to 178 tenant issue follow-ups in 2023
PBCA specialists completed 113 Management Occupancy Reports (MORs)

Rental Assistance Highlights

In addition to assisting families with rental assistance each month, members of the Housing Choice Voucher staff also assisted families in times in crisis. In April, OHFA activated the Richard S. Lillard Emergency Housing Assistance Fund to assist households impacted by severe weather in April. Additionally, OHFA wrapped up its Emergency Housing Voucher initiative. As part of the American Rescue Plan Act, these vouchers assist individuals and families who are facing homelessness or fleeing domestic violence or sexual assault.

Performance Based Contract Administration staff members traveled the state, visiting communities in their portfolio. OHFA provides monitoring and payment services of assisted units to owners of project-based Section 8 properties for the U.S. Department of Housing and Urban Development in Oklahoma.

Brittany, a graduate of the Family Self-Sufficiency program, addresses members of the Board of Trustees. She is joined by Lanisha Hines, OHFA FSS specialist.

Learn More About OHFA's Rental Assistance Programs

Visit the Renters/Owners section of the OHFA website to discover how rental assistance programs help low-income families across the state.

Rental Assistance Programs

Housing Development Programs Help Make Affordable Rent Possible

People cutting a ribbon in front of The Curve Apartments

Attendees celebrate the grand opening and ribbon cutting of The Curve, a 240-unit rental community in Moore.

The Curve Opens in Moore 10 Years After Devastating Tornado

A decade after an F5 tornado ripped through The City of Moore, OHFA helped cut the ribbon at the grand opening of The Curve.

OHFA provided $1.3 million in federal Affordable Housing Tax Credits and $25 million in Multifamily Bonds for the new construction of the community. The development features 240 apartment units. More than 130 families receiving Housing Choice Voucher rental assistance through OHFA reside at The Curve.

Located at SW 17th and Janeway Avenue, The Curve occupies land devastated by the May 20, 2013 tornado, where an aging mobile home community once stood.

"It was very important for us to preserve those affordable housing units but we knew it needed to be done in a different way," said Elizabeth Weitman, community development director for the City of Moore.

Amenities include storm shelters, washers and dryers in each unit, ceiling fans, and Energy Star appliances. The brand-new Curve Park connects to nearby Little River Park.

The City of Moore, Oklahoma - Municipal Government also received Community Development Block Grant-Disaster Recovery (CDBG-DR) funds from the U.S. Department of Housing and Urban Development to make this community possible.

Affordable Housing Tax Credits and Multifamily Bonds

Affordable Housing Tax Credits and Multifamily Bonds helped the City of Moore create a vibrant community in an area devastated by a tornado.

Housing Development Programs Impact

OHFA utilized $190 million in private activity bond cap to increase rental housing stock
OHFA's Housing Development programs generated 1,717 additional housing units in 2023
OHFA's Board of Trustees approved $34 million in Housing Development allocations and awards
Compliance specialists conducted 2,373 tax credit and FDIC file reviews
2,569 tax credit units were physically inspected by OHFA compliance specialists
58 households received assistance as part of the Housing Opportunities for Persons with AIDS program

Housing Development Highlights

OHFA's Housing Development Team is entrusted with allocation and compliance efforts related to several programs, including state and federal tax credits, the National Housing Trust Fund, the HOME Investment Partnerships Program, multifamily bonds, and the Housing Opportunities for Persons with AIDS (HOPWA) program.

Working with researchers from the University of Oklahoma through HOME-ARP, created a statewide map of resources available to unhoused and housing-insecure Oklahomans.

Southern Commons opened its doors in southeast Oklahoma City. This 97-unit development for seniors was made possible with both federal and state Housing Tax Credits.

Learn More About OHFA's Housing Development Programs

Visit the Developer Financing section of the OHFA website to discover how housing development programs finance the construction and rehabilitation of Oklahoma's affordable housing stock.

Housing Development Programs

OHFA Employees Make an Impact

For OHFA employees, the mission of "providing housing resources with an eagerness to serve" extends beyond the work they do each day. They make a difference in the communities where they live and work through volunteer and financial contributions.

OHFA Gives Back: Employee Initiatives Make an Impact

OHFA Employee Accomplishments

Learn More About OHFA

Visit the OHFA website to learn more about Oklahoma Housing Finance Agency and its programs.

OHFA Website

Board of Trustees

Michael Buhl, Chair

Scott McLaws, Vice Chair

Roger Beverage, Secretary-Treasurer

Ann Felton Gilliland, Member

Darin Dalbom, Member

Joi Love, Resident Board Member

OHFA 's Board of Trustees include Roger Beverage, Darin Dalbom, Ann Felton Gilliland, Mike Buhl, and Scott McLaws.

two people standing in front of a banner

Deborah Jenkins, OHFA executive director, and Kurt Fite, OHFA deputy executive director and CFO, attend the 1 Day Housing Conference.

Leadership Team:

Deborah Jenkins, Executive Director

Kurt Fite, Deputy Executive Director/CFO

Darrell Beavers, Housing Development Programs Director

Valenthia Doolin, Homeownership Programs Director

Mary Hoock, Interim Rental Programs Director

Tamara Steele, Human Resources Director

The Oklahoma Housing Finance Agency Leadership Team- seated from left: Kurt Fite and Deborah Jenkins; standing from left: Tamara Steele, Darrell Beavers, Mary Hoock, and Valenthia Doolin

Financial Statements

The Oklahoma Housing Finance Agency shares its financial standing through the release of audited financial statements.

Financial Statements