Standing Strong Together
The earth shook, the federal government shutdown and at the end of fiscal year 2019, wildfires ravaged parts of the state.
It was a year not to be forgotten.
The earthquake affected families in 41 homes financed by Alaska Housing Finance Corporation with 13 properties severely damaged. Our mortgage department worked tirelessly with each and every family whose home was damaged by the earthquake.
Our public housing staff showed the same spirit of serving. They put their own needs aside to assist our elderly residents and those with disabilities in our close to 750 units in South Central. A few properties suffered minor damage but no injuries were reported.
Homes can be replaced or repaired but earthquake trauma is more difficult to overcome. Alaskans have proven themselves resilient, a trait we’re proud to say Alaska Housing shares with our state’s residents. We stood strong together.
We published our annual report last month with that theme in mind and delivering on our mission to provide Alaskans access to safe, quality and affordable housing.
Financial highlights from FY19:
- A $45.6 million dividend to the State of Alaska, up $6.6 million compared to FY18, and from $7 million just a few short years ago.
- The value of our mortgage portfolio rose 6% to $3.4 billion while our bond portfolio increased 6% to $2.4 billion.
- We issued $227.8 million in tax-exempt housing bonds.
- Delinquency and foreclosure rates continued to stay well below the national average, especially remarkable in light of recent natural disasters. National rating agencies continued their assessment of Alaska Housing as one of the strongest housing finance agencies in the country.
For the full annual report go to https://www.ahfc.us/about-us/reports/2019-annual-report.
With gratitude for you and our partnership, wishing you a prosperous 2020!
Bryan Butcher - CEO/Executive Director
Brent LeValley - Board Chair