Asset Management Department Overview
The Asset Management Team is comprised of ten housing professionals with over 100 years of combined housing experience. The Department’s mission follows:
“Provide innovative products, education and services in collaboration with strategic partners to finance the purchase, construction and preservation of quality affordable housing to strengthen the social and economic development of New Mexico.”
The Department comprises four major focus areas:
- Monitor MFA’s portfolio of over 300 multi-family properties for compliance with federal housing regulations.
- Specifically, the Department performs long-term compliance monitoring for a wide-range of housing programs. Our monitoring functions include the physical inspection of properties, onsite resident file auditing and compliance auditing of property operations, and financial analysis of the property as a sustainable asset.
- Currently, the Department oversees and monitors for the Low-Income Housing Tax Credit Program (LIHTC), Tax Credit Assistance Program (TCAP), Tax Credit Exchange Program (TCEP), HUD HOME Program, HUD 542c Risk Share Program, FDIC/RTC, Rural developments 538 programs and Section 811 PRA. Additional layers of funding can also include Housing Trust Fund (HTF), Land Title Trust Fund (LTTF), and Energy Saver.
- Preform as Contract Administrators for the U.S. Department of Housing and Urban Development (HUD)
- These functions include performing Management & Occupancy Reviews, maintaining and renewing Housing Assistance Payment contracts (HAP) between property owners and HUD, reviewing and approving rent amounts for Section 8 units, verification of HUD’s subsidy (HAP) to Section 8 units against claims for subsidy from the owner, communicate with residents who occupy Section 8 properties to ensure the health and safety of HUD’s Section 8 portfolio is being maintained
- At present, our contract with HUD includes 86 Section 8 properties throughout the state which comprise multifamily properties for elderly, families, group homes, and persons with disability.
- Provide training and technical assistance to housing partners
- As the growing trend in funding affordable housing nationally is to layer multiple programs with a variety of funding sources it becomes an increasing challenge to the property owners. The Department delivers technical assistance through formal training workshops, conference sessions, and all forms of verbal and written communication.
- Communicate with residents, community members, and state and local officials regarding the operation and condition of affordable housing properties
- to maintain communications with residents to ensure the health and safety of Section 8 properties – extends to our MFA portfolio
Below are links to online systems MFA partners are required to use regularly.
Owner/agents are required to submit monthly tenant data and annual financial data to MFA via WCMS.
Owner/agents are required to transfer sensitive data to MFA in a secure manner.