Overview of Bond Finance
Bond Finance manages TDHCA’s capital markets and financing activities in support of affordable housing and homeownership throughout Texas.
The division structures, issues, and administers tax-exempt and taxable bonds; manages the Department’s outstanding debt, bond indentures, and related financial activities; evaluates financing opportunities; and oversees ongoing bond administration, tax compliance, continuing disclosure, and other securities law requirements. Bond Finance supports both TDHCA’s single-family homeownership programs and multifamily housing programs.
Scott E. Fletcher
Deputy Executive Director – Housing Finance
Street: 221 East 11th Street, Austin, TX 78701
Mail: PO Box 13941, Austin, TX 78711-3941
Phone: 512-936-9268
Investor Relations
Bond Finance provides investors, rating agencies, and other market participants with access to information regarding TDHCA’s debt, financial condition, bond programs, and related activities.
The Investor Relations page provides current bond offering information, Official Statements and continuing disclosure materials, financial information, credit ratings, indenture holdings reports, historical prepayment information, and other investor resources.
Notices and Resources
Single Family Finance & Homeownership
Bond Finance structures and manages financing that supports TDHCA’s homeownership programs, including Mortgage Revenue Bonds and other capital markets executions.
The division monitors housing finance and capital markets, evaluates financing and refinancing opportunities, and works with the Department’s financial advisor, investment bankers, bond counsel, disclosure counsel, trustees, rating agencies, and other financing professionals to develop and recommend financing structures to executive management and the TDHCA Governing Board.
The Texas Homeownership Division administers the Department’s borrower-facing mortgage and down payment assistance programs.
Multifamily Bond Finance
Bond Finance coordinates the issuance and ongoing administration of TDHCA’s Multifamily Mortgage Revenue Bonds, working with the Multifamily Finance Division and the Department’s financing professionals to structure and complete bond transactions.
The Multifamily Finance Division administers the application, underwriting, and development-related aspects of the Multifamily Bond Program.
Bond Compliance and Disclosure
After the Bond Finance Division successfully closes single family and multifamily bond transactions, Bond Finance manages financial matters related to the issue's series and bond indentures. The Financial Administration and Bond Finance divisions monitor the financial status of the bonds. The divisions also perform all Department responsibilities in accordance with the bond covenants as stated in the bonds' legal documents created as part of the issuance process. Bond Finance also monitors tax compliance for all multifamily properties. These monitoring and compliance functions are crucial and are required by the bond documents to ensure the tax-exempt status and investment-grade credit ratings of the bonds. Bond Finance is also responsible for complying with the Securities and Exchange Commission rules relating to the disclosure of information with the issuance and ongoing reporting of activities of the bonds.
Bond Finance Contacts
Scott E. Fletcher
Deputy Executive Director – Housing Finance
Phone (512) 936-9268
scott.fletcher@tdhca.state.tx.gov
Heather Hodnett
Manager of Single Family Finance
Phone (512) 475‐1899
heather.hodnett@tdhca.texas.gov
Teresa Morales
Director of Multifamily Bonds
Phone (512) 475‐3344
heather.hodnett@tdhca.texas.gov