Wyoming Community Development Authority

What Wyoming Community Development Authority does

Wyoming Community Development Authority (WCDA) is a state-chartered instrumentality of the State of Wyoming, established in 1975 by statute to finance affordable housing across the state. WCDA's core mechanism is the issuance of tax-exempt mortgage revenue bonds to investors; because the interest on these bonds is federally tax-exempt, investors accept a lower yield, and the resulting savings are passed through to Wyoming homebuyers as below-market interest rates on single-family mortgages. WCDA receives no state funding and operates as a self-financing conduit between the municipal bond market and individual borrowers.

WCDA's product portfolio spans first-time homebuyer loans (First-Time Homebuyer Program, Advantage, Edge), down payment assistance (Home$tretch at 0% interest with a $15,000 maximum, and an amortizing DPA variant), rehabilitation financing (Spruce Up single-close purchase-plus-renovation loan, Home Again), refinancing products, and a Mortgage Credit Certificate (MCC) Program that provides a federal income tax credit based on mortgage interest paid. Since 2012, WCDA has also offered HFA Preferred Programs that are not restricted to first-time buyers. Beyond single-family lending, WCDA administers five major federal affordable rental housing development programs: LIHTC, NHTF, HOME, CDBG, and HOME-ARP, which collectively have funded more than 5,500 units of affordable rental and homeownership housing across Wyoming.

WCDA distributes its mortgage products exclusively through a network of 13+ participating lenders (Western Vista Credit Union, First Federal Bank & Trust, Fairway Independent Mortgage, First Bank of Wyoming, Cross Country Mortgage, Cherry Creek Mortgage, Jonah Bank, Hilltop Bank, First Northern Bank of Sheridan, Guild Mortgage Cheyenne, First National Bank of Gillette, and others) rather than originating loans directly. Bond issuances are underwritten by Bank of America Securities and Royal Bank of Canada as senior managers, with JP Morgan and Raymond James as co-managers, and cfX Incorporated serves as independent registered municipal advisor. Headquartered in Casper, Wyoming, WCDA is governed by a board that includes the State Governor and State Treasurer as ex-officio members, and its primary customer segments are first-time homebuyers, existing homeowners seeking refinance or rehabilitation, affordable housing developers, and renters seeking affordable housing via the WCDA Rental Directory.

Name

Wyoming Community Development Authority

Legal name

Wyoming Community Development Authority

Website

https://wyomingcda.com

Company type

Private

Founded year

1975

Operating status

Operating

Headcount range

11–50 employees

Short description

Wyoming Community Development Authority is a state-chartered instrumentality, established in 1975, that issues tax-exempt mortgage revenue bonds to provide low-interest mortgages and down payment assistance to Wyoming homebuyers, administers five federal affordable rental housing programs, and distributes products through a network of 13+ participating lenders.

Ownership category

akta.pro rank

Product category

Public Affordable Housing Finance

NAICS

Administration of Housing Programs (925110), Administration of Housing Programs (92511)

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Affordable Housing / Down Payment Assistance (DPA) Mortgage Origination (FSALAAAM)

akta.pro secondary industry

Affordable Rental & Multifamily Housing Finance Programs (LIHTC/Tax Credits/Subsidized Loans) (FSALAKAF)

Keywords

• Affordable housing finance
• Tax-exempt mortgage bonds
• Down payment assistance
• First-time homebuyer loans
• Affordable rental development

Headquarters

HQ city

Casper

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Tax-Exempt Mortgage Revenue Bonds: WCDA raises capital by selling tax-exempt mortgage revenue bonds to investors. Since the interest on the bonds is tax exempt, investors accept a lower rate of return, allowing savings to be passed through to homebuyers in the form of lower interest rates on mortgages.
2. Federal Program Administration: WCDA administers federal housing programs including LIHTC, NHTF, HOME, CDBG, and HOME-ARP, which fund affordable rental housing development across Wyoming.
3. Single Family Mortgage Programs: Provides mortgage financing products including first-time homebuyer loans, refinancing, and down payment assistance with below-market interest rates.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Wyoming Community Development Authority provides low-interest single-family mortgage financing to Wyoming residents through products including the First-Time Homebuyer Program, Advantage, Edge, and Spruce Up rehabilitation loans, plus Home$tretch and Amortizing down payment assistance loans. The agency also administers federal affordable rental housing development programs (LIHTC, NHTF, HOME, CDBG, HOME-ARP) and the Mortgage Credit Certificate tax-credit program. WCDA raises its capital by issuing tax-exempt mortgage revenue bonds to investors and distributes loan products through a statewide network of participating lenders rather than originating directly.

Product overview

Wyoming Community Development Authority (WCDA) operates as a state housing finance agency offering a unified mortgage lending ecosystem for Wyoming residents. The core product portfolio centers on single-family mortgage programs including the First-Time Homebuyer Program, Advantage, and Edge products, supplemented by rehabilitation financing (Spruce Up and Home Again) and down payment assistance (Home$tretch and Amortizing DPA Loan Products). The Mortgage Credit Certificate (MCC) Program provides tax credits to qualified homebuyers. WCDA also administers five major federal affordable rental housing programs: LIHTC, NHTF, HOME, CDBG, and HOME-ARP. Supporting tools include a Rental Directory map, Local Housing Policy Lookup Tool, and Income Calculator Worksheet. The organization functions as a bond issuer that raises capital through tax-exempt mortgage revenue bonds to fund these programs.

Differentiator

Problem solved

Functional benefit

Products and services

• First-Time Homebuyer Program Standard first-time homebuyer product offering low fixed interest rates and 30-year financing, with options for down payment assistance. Eligible borrowers must not have owned a primary residence in the last three years and must occupy the property as a primary residence.
• Spruce Up Single-close loan that finances both the purchase and rehabilitation of a home in one transaction, reducing closing costs relative to bridge or construction loans. Funds minor remodeling, plumbing/heating/AC/electrical repairs, roofing, energy conservation, and accessibility improvements.
• Home$tretch Down Payment Assistance Loan Down payment assistance loan with 0% interest and a 0.080% APR (based on average loan amount of $5,500). No monthly payment required. Maximum loan amount of $15,000. Due upon sale of the home, refinance, or at 30-year maturity.
• Amortizing Down Payment Assistance Loan Down payment assistance loan with fixed interest rate and fully amortizing low monthly payments, available only with the Advantage mortgage product. Maximum 10-year term.
• Advantage 30-year fixed-rate mortgage with no purchase price limit and no first-time homebuyer requirement. Income must be at or below income limits, and the loan is not subject to Federal Recapture Tax. May be paired with the WCDA MCC Program.
• Edge Home purchase or refinance product available to first-time homebuyers and current homeowners, subject to specified income limits.
• Mortgage Credit Certificate (MCC) Program First-time homebuyer federal income tax credit based on mortgage interest paid. Credit may be used over the life of the qualifying loan. May be subject to Federal Recapture Tax, with reimbursement available from WCDA.
• Refinance Refinance product available to homeowners seeking to lower their interest rates or modify loan terms through WCDA's participating lender network.
• Low-Income Housing Tax Credit (LIHTC) Program Federal program administered by WCDA that allocates federal tax credits to fund the development of affordable rental housing across Wyoming.
• National Housing Trust Fund (NHTF) Program Federal program administered by WCDA that supports the development of affordable rental housing in Wyoming.
• HOME Investment Partnerships Program Federal HOME program administered by WCDA to fund affordable housing development and community development activities in Wyoming.
• Community Development Block Grant (CDBG) Program Federal CDBG program administered by WCDA to fund community development activities across Wyoming.
• HOME-ARP (American Rescue Plan) Program Federal HOME-ARP program providing one-time funding to reduce homelessness and increase housing stability, administered by WCDA in Wyoming.
• Rental Directory Directory providing names, locations, and contact information for affordable housing developments across Wyoming, accessible via an interactive map.
• Home Again Program working in conjunction with Spruce Up financing and the Home Again mortgage rate to give homebuyers the opportunity to refurbish and renew homes.
• Homebuyer Education (through Wyoming Housing Network, Inc.) Required pre-purchase education and counseling for first-time homebuyers served by WCDA's loan products, delivered through Wyoming Housing Network, Inc.

Quantifiable outcome

• More than 5,500 units of affordable rental and homeownership housing funded across Wyoming

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

14 partnerships are on record, tiered core.

• Abt Global (Abt Associates)coreStrategic or Co-development Partner · 30 July 2024Selected by WCDA to develop Statewide Strategic Housing Action Plan and Statewide Housing Needs Assessment. Presented completed plan in January 2025. Created story mapping tool and 27 strategies for statewide housing planning.
• cfX IncorporatedcoreOthersIndependent registered municipal advisor (IRMA) retained by WCDA to provide advice on structure, timing and terms of municipal securities issuances.
• Western Vista Credit UnioncoreChannel Partner/ Reseller/ DistributorParticipating lender offering WCDA mortgage programs to borrowers in Wyoming, led by Lori McClean. Prioritizes in-person guidance and clear communication for homebuyers.
• First Federal Bank & Trust in SheridancoreChannel Partner/ Reseller/ DistributorParticipating lender committed to educating homebuyers and helping them feel confident throughout the home purchase process. Deeply involved in Sheridan community.
• Fairway Independent Mortgage - High Plains TeamcoreChannel Partner/ Reseller/ DistributorParticipating lender with 157+ years combined experience. Active in Cheyenne community supporting Meals on Wheels, American Warrior Initiative, and local nonprofits. Goal to help 500 families finance homes in the coming year.
• First Bank of Wyoming - Division of Glacier BankcoreChannel Partner/ Reseller/ DistributorParticipating lender with dedicated team across Western Wyoming bringing personal, community-focused approach to every borrower. Helps neighbors achieve homeownership.
• Cross Country Mortgage - Casper BranchcoreChannel Partner/ Reseller/ DistributorParticipating lender dedicated to making mortgage process approachable and supportive. Branch involved in local food bank and annual coat drive.
• First National Bank of GillettecoreChannel Partner/ Reseller/ DistributorParticipating lender focused on helping borrowers achieve dreams of homeownership. Small but mighty team driven by customer satisfaction with strong community commitment.
• Cherry Creek Mortgage - A Division of Guild MortgagecoreChannel Partner/ Reseller/ DistributorParticipating lender in Casper with passionate team including Cindy Quinn, Adrienne Taylor, Nisha Benton, Janelle Butler, Alesha Bechtolt, Melissa Romero, and loan originators Kim Woodworth and others. Community-first philosophy, supports local boards and Meals on Wheels.
• Jonah BankcoreChannel Partner/ Reseller/ DistributorFull-service bank and longtime WCDA partner offering flexible options to help Wyomingites find homes. Uses WCDA programs to break down barriers to homeownership through down payment assistance.
• Hilltop Bank in CaspercoreChannel Partner/ Reseller/ DistributorParticipating lender offering local expertise and comprehensive services under one roof. Led by Chad Steinert with goal of helping better lives through homeownership.
• First Northern Bank of SheridancoreChannel Partner/ Reseller/ DistributorParticipating lender with strength in teamwork, quick decisions and strong communication. Dedicated to helping those who may not otherwise achieve homeownership. Gives back to community through volunteer efforts.
• Guild Mortgage CheyennecoreChannel Partner/ Reseller/ DistributorParticipating lender with Brady Koerwitz as loan officer, helping individuals and families turn challenges into success stories. Partner in journey to homeownership.
• Wyoming Housing Network, Inc.coreStrategic or Co-development PartnerProvides required homebuyer education classes for WCDA first-time homebuyers. Helps borrowers prepare for homeownership through counseling and education.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Idaho Housing and Finance Association: Idaho Housing and Finance Association is a state housing finance agency that finances affordable mortgages through bond programs and administers federal housing programs, directly comparable to WCDA in mission, structure, and rural-state operating context.
• Utah Housing Corporation: Utah Housing Corporation is a state housing finance agency that issues mortgage revenue bonds, provides down payment assistance, and administers federal programs for Utah, comparable to WCDA in Mountain West state housing finance model.
• Colorado Housing and Finance Authority (CHFA): CHFA is a state housing finance agency that issues tax-exempt mortgage revenue bonds and administers federal affordable housing programs (LIHTC, HOME) for Colorado, operating a nearly identical business model to WCDA in a neighboring Mountain West state.
• Montana Board of Housing: Montana Board of Housing is a state housing finance agency that issues tax-exempt mortgage revenue bonds and administers LIHTC and HOME programs for Montana, making it a direct peer of WCDA as a neighboring rural state HFA with similar programs and scale.
• North Dakota Housing Finance Agency: North Dakota Housing Finance Agency is a state HFA that finances affordable homeownership through bond programs and administers federal affordable housing programs, directly comparable to WCDA as a small rural state housing finance authority.
• South Dakota Housing Development Authority: South Dakota Housing Development Authority is a state HFA that finances affordable single-family mortgages through bond programs and administers federal housing programs, closely comparable to WCDA as a similarly sized rural Plains state housing finance authority.
• Nebraska Investment Finance Authority (NIFA): NIFA is a state housing finance authority that issues mortgage revenue bonds and administers federal affordable housing programs for Nebraska, directly comparable to WCDA in serving a low-population, rural state with tax-exempt bond-funded housing finance.

Broad incumbents

• Fannie Mae: Fannie Mae is a federal government-sponsored enterprise that purchases and securitizes mortgages, including those originated through state HFAs like WCDA. It is a broad incumbent operating at national scale that interacts with WCDA's bond-funded mortgage program through secondary market channels.
• Federal Housing Administration (FHA): The FHA is a federal mortgage insurance program under HUD that insures loans made by approved lenders, including WCDA-originated mortgages. It functions as a broad incumbent credit-enhancer whose FHA financing is explicitly accepted within WCDA's first-time homebuyer product terms.

Regional players

• Kansas Development Finance Authority: Kansas Development Finance Authority administers affordable housing programs and bond financing for Kansas, comparable to WCDA as a state housing finance entity, though with a somewhat broader infrastructure mandate beyond housing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/_WCDA
• Facebookfacebook.com/wyomingcda

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wyoming Community Development Authority