MFA hires senior director to grow loan products
Following a year of strong demand, the New Mexico Mortgage Finance Authority has made a strategic new hire to grow its loan products.
Jeff Payne is the senior director of homeownership, a newly created position in the organization. Payne comes to MFA following a 30-year career with Wells Fargo Home Mortgage.
In his new role, Payne will lead MFA’s homeownership and servicing departments in order to provide affordable homeownership opportunities to low- and moderate-income New Mexicans. The position was created in response to a year of record growth at MFA. In 2016, MFA increased its mortgage loan production by 67 percent and the number of homebuyers receiving down payment assistance increased by 64 percent. Also last year, MFA launched a new mortgage servicing structure that expanded its servicing responsibilities.
“Helping low- and moderate-income families find safe, stable housing that they can afford over the long term is crucial to the health of New Mexico’s families and communities,” Payne said. “I am thrilled to have the opportunity to do this important work and I look forward to being a part of this strong organization.”
As assistant vice president and branch sales manager at Wells Fargo Home Mortgage, Payne directed a team of home mortgage consultants throughout the area, including Albuquerque and Santa Fe. A native New Mexican, he has served on the board of directors of the Greater Albuquerque Habitat for Humanity since 2015.
“The experience and knowledge Jeff brings to MFA is a perfect complement to the work we do with our statewide network of lenders and realtors,” said Jay Czar, MFA’s executive director. “He has a passion for affordable housing and has embraced our mission. He is the right person to lead these departments as we continue to grow and expand.”
Hard time for first-timers
California is the toughest state for firsttime homebuyers, according to a new Bankrate.com report. Hawaii and New York round out the three most difficult states to buy your first home.
The data study evaluated all 50 U.S. states based on several factors pertaining to young adults, including home affordability relative to median income, credit availability, unemployment, market tightness and homeownership percentage among under-35 households.
New Mexico ranked No. 35.
California ranks as the toughest state for first-time homebuyers for several reasons, including low home affordability (No. 49), availability (No. 49) and under-35 homeownership percentage (No. 49), as well as high millennial unemployment (No. 41).
Iowa, on the other hand, is the easiest state due in large part to the most affordable home prices in the country.
“Tight market conditions and unaffordably high prices really plague what many young Americans feel are the most desirable places to put down roots,” said Bankrate.com analyst Claes Bell.
The food chain
Construction is moving forward on several new commercial buildings behind Chick-fil-A along the Paseo del Norte corridor.
One of the new tenants slated to open soon is a Blaze Pizza franchise, which has signed a lease to join the new development, as was previously reported in the Journal.
Blaze Pizza will take about 3,100 square feet in one of the three new buildings planned for the Holly Avenue project, which is marketed by Maestas & Ward’s Thalia Toha and Todd Strickland.
On the sweet front, the owners of the Tropical Smoothie Cafe franchise also are looking at opening a second location on a retail pad near Holly and San Pedro NE.
Secure location
Nearly ready for occupancy is A-Tech Security. The company’s employees will soon move into the new corporate headquarters at 4616 Hawkins NE. Rich Rosley, president of the locally owned and family-run security system monitoring provider since 1994, said investing in the new space will help the company expand its services to both residential and commercial customers.
He said A-Tech, which had outgrown its current location on Anaheim NE, competes with nationwide security companies by offering higher quality installment and security systems. A-Tech’s headquarters, a 7,000-square-foot metal building, is wired to the hilt so its dispatch center, which operates around the clock, can keep a watchful eye on thousands of sensors, alarms and video surveillance units.