New Mexico Mortgage Finance Authority
MFA BOARD CHAIR ANNOUNCES JAY CZAR’S RETIREMENT
Czar Ends a Public Service Career that Spanned 45 Years
ALBUQUERQUE: The board chair of the New Mexico Mortgage Finance Authority (MFA) announced today that Jay Czar will retire from his position as executive director after 13 years with the organization. Before joining MFA, Czar had a distinguished 27-year career with the City of Albuquerque, which culminated in being named to the city’s top position of Chief Administrative Officer.
“Jay has provided outstanding leadership to MFA,” said MFA Board Chair Angel Reyes. “He was a steadying hand throughout the housing recession and helped the organization emerge as an even stronger entity. MFA now provides affordable housing to almost 18,000 New Mexicans every year, which is largely due to the vision and direction Jay has provided over the last 13 years.”
Czar held several senior positions with the City of Albuquerque, including four years as the Director of Aviation. Between his tenures at the city and MFA, Czar was the vice president of marketing and governmental affairs for Lovelace Health Systems. He is a past-president and member of the Albuquerque International Balloon Fiesta Board of Directors. Czar is also the current chair of the New Mexico Mutual Board of Directors. He has served on and chaired numerous boards throughout his career.
MFA is a quasi-governmental entity created in 1975 to provide financing for housing and other related services for low- and moderate-income New Mexicans. The organization manages $4.2 billion in assets and more than $530 million in annual production. MFA is responsible for 30 affordable housing-related programs that include affordable housing construction, down payment assistance, homelessness prevention and assistance, housing rehabilitation and energy efficiency upgrades. It is self-supporting and receives no operational money from the State of New Mexico.
Reyes will lead the search for Czar’s replacement. The organization expects to name a new executive director by the end of the year. For more information about the position, click here.