Boatman Patterson re-appointed as California Housing Finance Agency Executive Director
CalHFA has flourished under her leadership, helping 60,000 families find affordable homes
July 29, 2020
SACRAMENTO — Tia Boatman Patterson was re-appointed as Executive Director of the California Housing Finance Agency by Governor Gavin Newsom on Tuesday. The position requires state Senate confirmation.
Boatman Patterson was originally appointed to the post by Governor Edmund G. Brown Jr. in 2014, after she served on CalHFA’s Board of Directors, and the Agency has flourished during her time at the helm.
This is the second year in a row that Governor Newsom has tapped Boatman Patterson for a high-ranking position. In 2019, Newsom appointed her to serve as the Administration’s Senior Advisor on Housing, a position she held for one year while remaining in charge at CalHFA.
In recognition for her leadership on housing issues at the Federal level, Boatman Patterson has been elected by her peers across the United States to serve as Board Chair of the National Council of State Housing Agencies for each of the past two years.
"Ms. Boatman Patterson continues to be a leader in the affordable housing space both for California and the nation," said NCSHA Executive Director Stockton Williams. "She has a special ability to create meaningful partnerships with people and organizations across all sectors of affordable housing."
Forging these successful partnerships with policymakers at the state and federal levels, combined with her extensive collaboration with local governments and private partners throughout California has resulted in an unprecedented expansion of CalHFA's production as the state’s affordable housing lender.
CalHFA's Single Family Homeownership division has seen impressive growth in each fiscal year since Boatman Patterson started as Executive Director. Coming off the great recession in Fiscal Year 2014-15, the Agency assisted around 1,000 California families with $240 million in first mortgage lending. Those figures have grown to 13,000 homebuyers helped last fiscal year, funding an Agency-historic high of $4 billion worth of first mortgages.
"It is important to me that not only have we increased the number of families we have helped to achieve the dream of homeownership, but we have been able to help the historically underserved black and brown communities," Boatman Patterson said. "Looking ahead, one of my biggest goals is to find even more ways to serve those communities that have faced housing discrimination that continues to this day."
Under Boatman Patterson, CalHFA has also vastly increased its financing for affordable rental housing. After providing $100 million to finance just under 900 affordable units in FY 2014-15, the Agency's lending and bond issuance grew significantly to nearly $950 million last fiscal year, creating and preserving close to 3,500 much-needed units of affordable housing.
In total, CalHFA has helped 60,000 low- and moderate-income California families find a place to call home during Boatman Patterson's time as Executive Director.
The Agency's ongoing work to streamline costs, reduce risk and increase funding ability has paved the way for this growth in production, and its improved financial strength has been consistently recognized by the major credit rating agencies, including more than 10 ratings increases during Boatman Patterson's tenure.
Recently, Boatman Patterson has led CalHFA in the design of innovative programs such as the Mixed-Income Loan Program, which has spurred timely and cost efficient development of rental housing for a broad range of income levels, and a bond recycling program that is the first of its kind in California. Each of these programs was made possible in part through extensive collaboration and alignment with other state and private partners.
# # #
The California Housing Finance Agency was created in 1975 with the goal of helping more Californians find a place to call home. CalHFA has helped more than 201,000 low- and moderate-income homebuyers with $32.6 billion in first mortgages and used $6.1 billion in financing for the construction and preservation of more than 70,000 affordable rental housing units throughout the state. CalHFA is a self-supported state agency that doesn't rely on taxpayer dollars for its operational costs. For more information on CalHFA programs, and how we are creating progressive financing solutions for affordable housing in California, visit www.calhfa.ca.gov or call toll free at 877.9.CalHFA (877.922.5432).
Contact: Chris Saur