About the EBRMFA
The East Baton Rouge Mortgage Finance Authority was created through a Trust Indenture dated Aug. 14, 1974. The Authority issues bonds and uses the proceeds to provide financing for housing conducted in the public interest within the boundaries of East Baton Rouge Parish, Louisiana.
The Authority is governed by a Board of Trustees whose members are appointed to six-year terms by the Mayor-President of East Baton Rouge with concurrence of the East Baton Rouge Parish Metropolitan Council. The East Baton Rouge Parish Attorney and the Director of Finance serve as ex-officio members.
Since 1979, the Authority has issued more than $1.265 billion in single-family revenue bonds, which ranks the Authority third nationally in volume of bonds issued and second nationally in number of issues completed when compared to other parish and/or county issuers of single-family bonds.
The Authority has been a major contributor to home ownership and economic development in East Baton Rouge Parish by providing more than $935 million in below conventional market rate funds to more than 15,000 low- and moderate-income households.
The Authority works to support and enhance certain “targeted” neighborhoods in East Baton Rouge Parish by offering special mortgage terms for homes purchased within the “targeted” areas.
In addition to its mortgage programs, the Authority issues grants to local non-profit organizations. These grants are usually associated with programs designed to encourage home ownership and economic development.
The Authority is self-supporting and has never received any appropriation of funds from any government agency.