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MSHDA Welcomes New Homeownership Director
August 09, 2023
Tonya Coon brings over 20 years of mortgage lending experience to support Michigan homeowners
Lansing, Mich. – The Michigan State Housing Development Authority (MSHDA) today announced Tonya Coon as its new homeownership director.
In this role, Coon’s primary areas of responsibility will focus on management of MSHDA programs related to single-family homeownership, including its Single-Family Mortgage Loan, Michigan Mortgage Credit Certificate (MCC) and Housing Education programs. Additional responsibilities include oversight of business operations, personnel and other affairs within the homeownership division of MSHDA.
“Throughout her career, Tonya has displayed an immense passion and dedication to helping others achieve their dream of homeownership,” MSHDA Executive Director Amy Hovey said. “That passion, along with her extensive history of leadership within the mortgage lending space, speak directly to MSHDA’s fundamental mission of making housing and homeownership more equitable and attainable for the people of Michigan.”
Coon comes to MSHDA with over 20 years of mortgage lending experience, most recently serving as President of myCUmortgage in Beavercreek, Ohio, where she empowered credit unions across the country to improve their mortgage lending initiatives.
During her tenure at myCUmortage, Coon received the 2023 Inman Best of Finance Award, which recognizes a commitment to innovation and service within the residential lending industry. Before myCUmortage, she also held leadership roles at Mortgage Cadence, an Accenture Company, and MidWest Financial Credit Union.
“Throughout my career, I’ve especially enjoyed ensuring new homeowners feel supported during every step of the homeownership process,” Coon said. “The people at MSHDA share my passion for helping others, and I’m looking forward to stepping into this role and collaborating with the team to identify new and exciting ways to make homeownership a reality for Michigan residents.”
Former Homeownership Director Mary Townley, who retired earlier this year, will continue to oversee the Michigan Homeowner Assistance Fund on a contractual basis until the program ends.
The Michigan State Housing Development Authority (MSHDA), established in 1966, provides financial and technical assistance through public and private partnerships to create and preserve safe and decent affordable housing, engage in community economic development activities, develop vibrant cities, towns and villages, and address homeless issues.
MSHDA's loans and operating expenses are financed through the sale of tax-exempt and taxable bonds and notes to private investors, not from state tax revenues. Proceeds of the bonds and notes are loaned at below-market interest rates to developers of rental housing, and also fund home mortgages and home improvement loans. MSHDA also administers various federal housing programs.