The District of Columbia Housing Finance Agency’s (DCHFA) issuer credit rating was raised to “A+” with a “stable” outlook, according to Standard and Poor’s (S&P) Global Ratings.
“The stable outlook reflects our view of a combination of DCHFA’s high profitability and equity ratios relative to those of peers, and its relatively new but experienced management and strategic initiatives,” wrote Aulii T. Limtiaco, S&P Credit Analyst.
Under the leadership of Todd A. Lee since 2016, DCHFA has undergone several changes to include the launch of new programs like the Housing Investment Platform (HIP), the DC Mortgage Assistance Program (DC MAP) and the Reverse Mortgage Insurance & Tax Payment Program (ReMIT), the addition of a Chief Operating Officer to the staff, and a rebranding among other innovations to improve the Agency’s day-to-day functions. Lee’s leadership, there has been over $1 billion invested in the creation and preservation of affordable multifamily rental and workforce housing units in addition to supporting homeownership all over the city.
DCHFA is celebrating its 40th year of service to District residents in 2019. The Agency aims to provide the most effective, innovative and efficient solutions to affordable housing in the District. The Agency aims to continue investing in affordable housing and neighborhood development as a way to provide pathways for D.C. residents to transform their lives for many years to come.