Joy F. Willig Recommended to be General Counsel for NYS HFA, SONYMA and Affiliated Agencies

NEW YORK, NY (11/19/2007)(readMedia)-- Priscilla Almodovar, President and Chief Executive Officer of the New York State Housing Finance Agency (HFA), the State of New York Mortgage Agency (SONYMA) and its affiliated agencies, announced today that she will recommend Joy F. Willig to be appointed General Counsel for the agencies.

“Joy will bring a wealth of legal expertise in the area of affordable housing, both in the private and public sector,” Ms. Almodovar said. “With Joy, we will have fully assembled our senior management team. I am very excited about what we can all accomplish working together.”

Ms. Willig said, “It’s an honor to be recommended to serve as general counsel of the agencies. I look forward to rejoining the agencies, and working with Priscilla and her great staff, as well as the agencies’ partners in the affordable housing community, to expand affordable housing opportunities throughout the state.”

Until recently, Ms. Willig was General Counsel to L&M Equity Participants, Ltd., where she was the chief legal officer for the organization’s affiliated real estate, development and construction companies.

From 1998 to early 2007, she served as Deputy General Counsel for the New York City Housing Development Corporation, serving as a legal and policy advisor on financing structures, bond compliance, asset management and general corporate matters.

From 1990 to 1998, she served on the HFA legal staff, rising to become associate counsel. She also was an associate at Cahill Gordon Reindel and clerked in the United States District Court, Southern District of New York.

Ms. Willig received a Bachelor of Science degree from Cornell University and her J.D. from Cardozo School of Law.

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The NYS Housing Finance Agency was created in 1960 to finance the construction and rehabilitation of multi-family affordable rental housing in New York State.

SONYMA was created in 1970 with the mission of helping low- and moderate- income families become homeowners. It offers a variety of low down payment mortgages that provide below-market fixed interest rates, as well as closing cost assistance through a network of participating lenders across the state.

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