Jefferson Parish Finance Authority

Description

The Jefferson Parish Finance Authority was established in 1979 by the Jefferson Parish Council. It is a public trust created pursuant to the provisions of the Louisiana Public Trust Act contained in Chapter 2-A of Title 9 of the Louisiana Revised Statues of 1950. It provides financing of mortgage loans on single family residential real property. In 2005 the Trust Indenture was amended by the Parish Council to expand the powers of the Authority. The JPFA meets its purpose by issuing Mortgage Backed Revenue Bonds. the Bonds of the Authority are secured by the underlying loans which carry a guarantee from the Federal Government. Since 1979, the Jefferson Parish Finance authority has financed approximately 12,000 home loans for $1,000,000,000. the authority's programs offer interest rates that are competitive with those offrered in the conventional mortgage market, as well as other incentives which may not be availale through traditional finanacing. * This assists credit worthy individuals to realize the American Dream of Home Ownership. * This allows individuals to own as opposed to renting, which develops responsibility and pride in the surrounding communities. * National statistics indicate that home ownership reduces crime, domestic abuse, and helps build communities ABOUT: The Jefferson Parish Finance Authority is a "component" of Jefferson Parish that operates under a state and federally approved Indenture,