Stephanie McFadden Appointed Director of Multifamily Programs
The California Housing Finance Agency has made a pivotal decision by appointing Stephanie McFadden as the new Director of Multifamily Programs. With a rich background in affordable housing, this appointment comes with high expectations for government-backed initiatives aimed at improving housing accessibility.
McFadden’s Extensive Experience in Affordable Housing
McFadden's journey in the housing sector spans nearly 30 years, giving her a comprehensive understanding of the field. Her leadership is expected to guide a CalHFA lending team that achieved a remarkable $2 billion in lending and bond issuance in the previous fiscal year, marking a significant milestone for the agency.
Significant Contributions to Multifamily Lending
As Director, McFadden will oversee an asset management division that monitors over 18,000 affordable housing units. Her previous roles include being the Chief Lending Officer at the Low Income Investment Fund (LIIF), where she centered capital deployment on racial equity—an approach likely to influence her strategies at CalHFA.
Leadership Endorsements Highlighting Expertise
Rebecca Franklin, CalHFA Chief Deputy Director, commended McFadden's proven track record in housing finance. The agency is confident that her leadership, coupled with her deep knowledge of development finance, will drive innovative solutions to the housing challenges faced in California.
Career Achievements and Focus
Before joining CalHFA, McFadden served as a Senior Advisor for HUD’s Office of Multifamily Production and held senior positions across various institutions, including CBRE. Her career has been deeply rooted in affordable multifamily lending, making her an ideal candidate to spearhead CalHFA’s efforts.
CalHFA’s Mission and Impact
The California Housing Finance Agency, established in 1975, aims to assist Californians in securing homes. CalHFA has supported over 226,000 low- and moderate-income homebuyers with an impressive $40.1 billion in first mortgages, contributing significantly to the state's housing infrastructure.
Innovative Partnerships for Affordable Housing
Looking ahead, McFadden expressed her excitement about joining CalHFA, highlighting the potential for innovation and partnerships to address the pressing need for affordable housing in diverse California communities. Her vision aligns with CalHFA's ongoing commitment to enhance housing availability.
Frequently Asked Questions
Who is Stephanie McFadden?
Stephanie McFadden is a veteran in the affordable housing industry appointed as the Director of Multifamily Programs at CalHFA.
What are McFadden's key achievements?
McFadden has nearly three decades of experience and previously served as Chief Lending Officer at LIIF.
What is the role of the CalHFA?
The California Housing Finance Agency helps Californians by providing access to affordable housing options, primarily through mortgage assistance programs.
How much has CalHFA financed in home mortgages?
CalHFA has facilitated $40.1 billion in first mortgages for low- and moderate-income homebuyers.
What impact does McFadden aim to make?
McFadden intends to innovate and build partnerships that generate affordable housing solutions throughout California's communities.
