Agency Histories
Utah Housing Corporation
Entity: 3487
Entity Type: State Government
Prior Names
Utah Housing Finance Agency
Abstract
Utah Housing Corporation (UHC) was created in 1975 by Utah legislation to serve a public purpose in creating an adequate supply of money with which mortgage loans at reasonable interest rates could be made to help provide affordable housing for low and moderate income persons.
Biography/History Notes
The Utah Housing Finance Agency was created by the legislature in 1975 (Laws of Utah ch. 190) to help provide for an adequate supply of decent, safe and sanitary housing to the citizens of the state and to make available an adequate supply of mortgage funds for housing at reasonable interest rates. The Agency was turned into a private public corporation, Utah Housing Corporation, by the legislature effective July 1, 2001 (Laws of Utah, ch. 319); they were given a year to complete the privatization process.
The agency purchases insured mortgages to make them available to moderate income home buyers at reasonable rates. The agency also finances low-income housing projects.