UHC is an independent government agency that raises funds in order to offer mortgage loans to lower-income people and to provide resources to developers and builders for creating affordable housing projects.
It does not receive any funds from the State of Utah and is completely self-supporting via the issuing of tax-exempt bonds and the creation of and selling of mortgage-backed securities to investors.
[citation needed] To fund itself, the Utah Housing Corporation uses bonds and mortgage-backed securities.
[citation needed] This program has done well over the years in receiving funding to help lower income families.
Over the subsequent 20 years, it has become an extremely effective tool for developing affordable rental housing, but less efficient economically when compared to programmatic approaches.