State Housing Development Authority.

This week I talk with Kevin Elsenheimer, the executive director of Michigan State Housing Development Authority.

http://www.michigan.gov/ownmihome

Dave: Kevin thank you for being here I wanted to let people know a little bit about MSHDA and what is MSHDA. What function is it serving here in Michigan?

Kevin: MSHDA is the state’s housing bank basically we are part of state government but we’re a little bit different because we can provide loans to individuals. The Constitution says the state of Michigan can’t do that. We have a particular charter that allows us to act as the state’s bank and we do several different things for example; we do multifamily development and lending for low-income housing projects around the state but we also have a very robust single-family loan program where we’ll go out and buy mortgages from banks credit unions around the state that we have clients that will be interested in our products.