New York Governor Andrew Cuomo was looking for innovative leadership to bolster the residential housing market in the state when he appointed William Mulrow to serve as chairman of the State of New York Mortgage Agency. New programs developed by the agency appear to confirm that the governor made the right choice. SONYMA has enabled lenders to offer low interest mortgage financing to first-time homebuyers for many years. Under the leadership of William Mulrow, the agency expanded its programs to include new loan products for retired and active-duty members of the armed forces. Other programs have been added to assist [...]
William Mulrow, an executive at asset management firm Blackstone Group, has served on a number of boards during his 30-year career. He currently chairs activities at Sterling Suffolk Racecourse LLC, the New York State Housing Finance Agency and the State of New York Mortgage Agency. Previously, he had sat as a key advisor for the Taubman Center for State and Local Government at Harvard University’s Kennedy School of Government, the Maxwell School for Public Affairs at Syracuse University, Application Security, Inc., Hudson Valley Bank, Millbrook Capital, New York City’s Rent Guidelines Board, Westchester County Industrial Development Agency, Federal Home Loan [...]
The State of New York has been getting help from a Wall Street insider to keep its affordable housing initiatives running smoothly. William Mulrow, a Senior Managing Director at the asset management firm Blackstone Group, chairs five agencies under the Homes and Community Renewal umbrella. Mulrow and his staff are charged with increasing and preserving investment funds to finance multifamily dwellings and back the state’s first-time homebuyer mortgage programs. For the past year, Mulrow has been drawing on his experiences within the public and private sectors to identify opportunities for growth. With Governor Andrew M. Cuomo’s support, Mulrow has broken [...]
Moody’s Investor Services has declared an Aa1 ranking for the State of New York Mortgage Agency’s Homeowner Mortgage Revenue Bonds in Series 178, 179 and 180. The rating comes in part due to the program’s strong asset-to-debt ratio, stable profitability, sound portfolio composition, cushioned mortgage insurance provisions and secure cash flow projections. Moody’s press release gives special mention to the program’s “sophisticated and highly experienced staff.” The SONYMA bonds affected by this rating carry a value of $126 million. In 2012, New York’s Governor had appointed William Mulrow to be Chairman of the Board for SONYMA.