HFA has a Board of Directors who have extensive experience and are persons of high achievement in affordable housing and related fields. The Board members backgrounds include the kinds of knowledge and expertise that is important to HFA, such as housing development, public policy, legal, fiscal and accounting, business and nonprofit management, and resident services, among others. The Board members generally has been long serving and deeply committed to HFA; the continuity of the Board has been of great assistance to us as the organization has grown and become increasingly complex. Our Board understands very clearly the operations of HFA and provides the kind of knowledgeable oversight that is needed for a complex nonprofit entity.  In addition to the current Board members, the Board has several emeritus members who previous served on the Board for many years and they continue to receive all Board materials and participate in meetings as the permits.

The Board meets quarterly for several hours and in addition from time to time confers by conference call as special issues arise. The Board has a Finance and Audit Subcommittee consisting of both Board officers and members and non-Board persons with finance and audit expertise. They receive and review the work of our independent auditors.

The Board has adopted a current five year business plan, recently updated the Bylaws, and has adopted numerous written policies to guide the work of the organization and the Board.

Horizontal Rule

Board Members and Officers

Trudy P. McFall, Chairman of the Board and Co-Founder

Trudy P. McFall

Chairman of the Board and Co-Founder

Trudy has over 45 years of experience in the affordable housing field, serving in key management positions in state, federal and local government and the nonprofit sector. She is a co-founder of HFA and Chairman of the Board. Trudy served for 13 years as the Director of Maryland’s housing finance agency, the Community Development Administration; four years with HUD as the Director of the Office of Planning, Washington, DC; and ten years as Director of the Housing Division of the Metropolitan Council in St. Paul, Minnesota.

Trudy is currently the President of the Maryland Affordable Housing Coalition, the organization of the affordable rental housing developers and advocates in the State. She has served on the Board of Directors for a variety of national housing organizations, including the Housing Partnership Network, National Council of State Housing Agencies, National Housing Conference, National Leased Housing, National Housing and Rehabilitation Association. She also has served as Chairman of the Housing Authority of the City of Annapolis and President of the Anne Arundel Affordable Housing Coalition. She has been a frequent speaker on housing issues at national and local conferences and has written extensively on housing topics, including as a Contributing Editor for the Affordable Housing Magazine. 

Trudy has a BA in Sociology from Indiana University and an MA in Sociology from Bryn Mawr College.

Michael Bodaken, Board Vice President, President (Ret.), National Housing Trust

Michael Bodaken

Board Vice President, President (Ret.), National Housing Trust

Michael Bodaken has extensive experience in the affordable housing field, and currently is the President of the National Housing Trust. In his 18 years of leading that organization the Trust has become the primary national nonprofit intermediary dedicated to the preservation and improvement of affordable multifamily homes and is a leader in the field of affordable housing preservation. His efforts have resulted in the preservation of more than 20,000 affordable multifamily homes, requiring a combined acquisition and rehabilitation financing of over $1 billion. Michael also serves as the President of the NHT/Enterprise, an organization founded by the Trust which owns and operates 5, 000 affordable housing units in eight states and the District of Columbia. Prior to joining the Trust, Michael served as the Deputy Mayor of the City of Los Angeles with responsibility for, among other things, the housing and community development programs of the City. For ten years, Michael practiced as a public interest lawyer with the Legal Aid Foundation of Los Angeles and the San Fernando Valley Neighborhood Legal Services. Michael is recognized as a key national leader in the affordable housing field and he is a frequent moderator and panelist at regional and national housing conferences concerning the preservation of multifamily housing. He serves on the Board of numerous national housing organizations, including Homes for America, Housing Preservation Project, Urban Vision, Fairfax and Montgomery County Housing Tax Forces, and Stewards for Affordable Housing for the Future (SAHF). Michael has a J.D. degree from Peoples College of Law and a B.A. degree from the University of Iowa.

Dennis Conti, Board Treasurer, Senior Vice President (ret.), Hughes Corporation

Dennis Conti

Board Treasurer, Senior Vice President (ret.), Hughes Corporation

Dennis M. Conti is a retired telecommunications executive with extensive business management experience, including strategic and financial planning. Dennis' professional career included work with the Department of the Navy, the National Bureau of Standards and Hughes Network Systems. During his career at Hughes, Dennis managed several large software development projects in the area of satellite communications, before moving into marketing and sales. In 2003, Dennis retired from Hughes as the Senior Vice President of Domestic Sales and Marketing. Dennis currently works part time as a Management Consultant.

He has been involved in a number of civic activities in the Annapolis, MD area, including serving as the Interim Executive Director of the Housing Authority of the City of Annapolis (HACA), Chairman of HACA’s Utilities Committee, Vice-Chairman the HACA Public Safety Committee, and Co-Chairman of its Clay Street Revitalization Committee. Dennis’ other volunteer activities have included:

  • founder and coordinator of the Clay Street Public Safety Team
  • founder and manager of Radio Clay Street
  • External Affairs Coordinator for the Clay Street Computer Learning Center
  • Chairman of the Substance Abuse Committee of Churches Without Boundaries
  • Board member of the Anne Arundel Affordable Housing Coalition
  • Member of the Anne Arundel Partnership to End Chronic Homelessness

In recognition of his volunteer work, Dennis has received numerous awards, including the Martin Luther King Peacemaker Award, the Governor’s Crime Prevention Award, a Governor’s Citation, the Parole Rotary Club’s Above Self Award, and the Glittering Gem of Annapolis Award.

Dennis received a BS degree from the University of Dayton and M.S. and Ph.D. degrees from Purdue University.

Chickie Grayson, Board Secretary, President and CEO (Ret.) Enterprise Homes, Inc.

Chickie Grayson

Board Secretary, President and CEO (Ret.) Enterprise Homes, Inc.

Chickie Grayson is the former president and chief executive officer of Enterprise Homes, Inc. She has more than 30 years of experience in the development of housing for people from all walks of life.


Since 1987, when she began her career with Enterprise, Chickie established a reputation for building high-quality affordable, workforce and market-rate rental and for-sale homes. Enterprise Homes has a successful track record for large-scale master planning, undertaking and completing complex mixed-income housing developments in both urban and suburban areas in the Mid-Atlantic region. Enterprise Homes also has extensive experience in layered financing to achieve its goals by working with private institutions and federal, state and local officials. To date, Enterprise Homes has developed and/or owns communities that include close to 11,800 apartment and for-sale homes throughout the mid-Atlantic Region.

Chickie is a 2017 inductee into the Affordable Housing Finance Hall of Fame and has been honored with a Lifetime Achievement Award by the Baltimore District Council of The Urban Land Institute (ULI). She has received the HOPE Leadership award for her achievements and dedication to providing homeownership opportunities for minorities and has been recognized by The Daily Record as an Influential Marylander in the field of Real Estate. Under her leadership, Enterprise Homes and its developments received numerous awards, including U.S. Green Building Council Neighborhood Development Awards for Excellence in Green Building, HAND Awards for Best Development of the Year, the NAHB Multifamily Pillars of the Industry Award for Workforce Housing, the NAHB Best in American Living Award, and the President’s Award from the Maryland Affordable Housing Coalition.

Chickie is a graduate of the University of Maryland, where she earned her bachelor’s degree and master’s degree in urban affairs. She serves on the board of the Maryland Affordable Housing Coalition (MAHC) and is a past president. Chickie also serves on the Board of Directors of the Parks and People Foundation and the Board of Trustees of the Maryland Science Center. Chickie has served on the Affordable Housing Advisory Councils of the Federal Home Loan Bank of Atlanta and the Federal National Mortgage Association.

Eric C Brown, Public Housing Consultant and Trainer

Eric C Brown

Public Housing Consultant and Trainer

Eric C. Brown is currently working as a public housing consultant and trainer. Prior to becoming a consultant Eric was the Director of the Department of Housing and Community Development (DHCD) for Prince George’s County, Maryland. DHCD is comprised of three governmental agencies: the Department of Housing and Community Development, the Housing Authority (HA) and the Redevelopment Authority (RA). The Department of Housing and Community Development is primarily responsible for the administration, monitoring and evaluation of the Federal entitlement programs. The Housing Authority manages the Federal rental assistance programs and public housing. The Redevelopment Authority handles acquisition and development of properties in Prince George’s County.

Mr. Brown has over 30 years of experience working with various government entities. He has over 25 years of senior level administrative and supervisory experience in the affordable multi-family housing arena. Mr. Brown has served as Executive Director of the Meridian (Mississippi) Housing Authority and Annapolis (Maryland) Housing Authority. As Executive Director of the Annapolis Housing Authority he implemented the agency’s first major redevelopment of public housing properties using the public-private partnership model.  He also implemented the first housing partnership with Habitat for Humanity that enabled public housing residents to become home owners.

He has served as Deputy Executive Director of housing agencies in New Orleans, Philadelphia and Baltimore. In his positions as Executive Director and Deputy Executive Director, Mr. Brown has supervised staffs up to 1,600 and managed budgets up to $250 million.

Eric Brown has served as a panelist and presenter at affordable housing workshops and conventions throughout Maryland and the United States. He has served as an advisor to boards of commissioners in Havre de Grace, Maryland, and Hartford, Connecticut.  He also served as a resource and technical reviewer for the HUD publication, “Private Management of Public Housing.” Mr. Brown was a member of The Public Housing Administrative Reform Initiative in 2007.  Currently, he is a trustee for the Maryland Affordable Housing Trust; a member of the MD Governor’s Foreclosure Task Force and was selected as the 2015 Housing Person of the Year by the MD Affordable Housing Coalition.

Mr. Brown earned his Bachelor’s degree in Public Administration and his Master’s degree in Urban and Regional Planning from the University of Mississippi. He earned his Juris Doctorate from Miles Law School in Birmingham, AL.  Mr. Brown is a Baltimore Leadership alumnus and has served on the board of directors of several professional and civic organizations.

Charles Edson, Partner and Senior Counsel (ret.) Nixon Peabody, LLP

Charles Edson

Partner and Senior Counsel (ret.) Nixon Peabody, LLP

A widely known expert in affordable housing, Charles L. Edson is a retired partner and Senior Counsel in the Washington, D.C. law firm of Nixon Peabody. He practiced law for over 45 years in the affordable housing area, and wrote and lectured extensively in that area. Prior to the private practice of law, Chuck held several Counsel positions with HUD, Presidential commissions and Office of Economic Opportunity. He has served as Adjunct Professor of Housing Law at the Georgetown University Law Center, Washington, D.C. and as President Carter’s Transition Officer for Housing and Urban Development Chuck was Co-Editor-in-Chief of the Housing and Development Reporter for nearly 30 years. He is the author or co-author several housing books, including A Section 8 Desk Book, A Practical Guide to Low and Moderate Income Housing, and The Secondary Mortgage Market Guide and Guide to Federal Housing Programs. Chuck has served on numerous national Boards and Commissions, including Mercy Housing, Charter Mac, National Housing Conference, Community Development Trust, and the Maryland Historical Trust. Chuck has been widely honored in the field for his contributions. The awards presented annually by the Affordable Housing Tax Credit Coalition are named in honor of Chuck. He has received the Legislative Award of the National Housing Conference, the Affordable Housing Hall of Fame from the Affordable Housing Magazine, the Public Service Award of the Montgomery County Housing Coalition, and the Housing and Community Development Award of the American Bar Association. Mr. Edson is a B.A. graduate of Harvard College. He received his J.D. degree from Harvard Law School.

Susan Frank, Executive Vice President, Business Development, Cinnaire

Susan Frank

Executive Vice President, Business Development, Cinnaire

Susan Frank joined Cinnaire in March 2014. She serves as Executive Vice President, Business Development, and directs the company’s business development strategy and activity over Cinnaire’s nine state footprint including community development initiatives, equity and debt.

Susan has been a leader in the affordable housing industry for more than 25 years. Before joining Cinnaire, she served at Fannie Mae for 12 years, most recently as Director of Customer Account Management in the organization’s Multifamily Mortgage Business. Prior positions with Fannie Mae include managing the company’s CDFI product and as the Director of the Delaware Community Business Center. From 1993-2000, Susan was the Executive Director of the Delaware State Housing Authority (DSHA), a statewide housing finance agency and local public housing authority and community development agency. She served as a Member of the Governor’s Cabinet and the Governor’s Family Services Cabinet Council. Prior to DSHA, Susan served as Chief Legislative Advisor to then-Rep. Tom Carper (D-DE) on all matters before the U.S. House of Representative’s Banking Committee and Housing Subcommittee.

Susan earned her B.A. from the University of Delaware and has resided in Wilmington, Delaware for more than 20 years. She serves on numerous Boards and Committees including the Healthy Communities Delaware Leadership Council, Wilmington Neighborhood Conservancy Land Bank, TD Bank’s Leadership Council, Todmorden Foundation, and Wilmington Market Street Corridor Revitalization Fund Review Committee.

James I. Humphrey, Jr., Chairman and Chief Executive Officer (Ret.), The Humphrey Companies

James I. Humphrey, Jr.

Chairman and Chief Executive Officer (Ret.), The Humphrey Companies

James I. Humphrey, Jr. founded and served as the Chairman and Chief Executive Officer of the Humphrey Companies which are based in Columbia, Maryland. This group of eight organizations develop, build, own and manage apartment communities, hotels and retirement communities in the six state Mid-Atlantic region and Florida. His firms have been involved with the production of over 7,500 affordable units over the past 20 years.

Mr. Humphrey was the founder and Chairman of The Humphrey Hospitality Trust, a real estate trust listed on the NASDAQ Exchange. The Trust was merged with Supertel Hospitality Trust, another public Company and now owns over 120 hotels in 23 states.

Mr. Humphrey has served on the governors Housing Task Force in Maryland. He served as vice-chairman of the Maryland Housing Policy Commission and served on the Credit Assurance Review Committee of the Maryland Housing Fund. He was the initial president of the Maryland Affordable Housing Coalition. He holds a Bachelors of Science Degree from the University of Maryland and a Masters of Business Administration from Loyola University. He is a Trustee Emeritus of The Key School in Annapolis, Maryland. He has served seven years on the Board of Directors of Hospice of the Chesapeake and is the current Vice Chairman. He has served five years on the Board of Wellness House of Annapolis and is the current Vice Chairman.

Thomas Lantz, Founding Partner (ret.), HeimLantz, CPAs and Advisors

Thomas Lantz

Founding Partner (ret.), HeimLantz, CPAs and Advisors

Thomas J. Lantz, Sr. is the Chairman of the Board of HeimLantz, P.A. and has over 40 years in the accounting field. In 1974, he founded Lantz & Associates, P.A. which was later merged with Heim & Associates, P.A. to form the present organization. Prior to founding his own firm he was employed at Ernst & Young, and he worked as the Financial Vice President of Moses-Ecco Co., Inc. a large construction firm. Tom specializes in business valuation and succession planning for closely held businesses, assisting his clients with critical transition decisions, combining his professional expertise and a practical and common sense approach to business. Tom holds CPA licenses in both Maryland and Virginia, as well as numerous other professional qualifications and certifications. Tom is a Past President of the Maryland Association of CPAs, a Past President of the Southern Maryland Chapter of CPAs, and a past President of the Estate Planning Council of Suburban Maryland. He served on the Professional Ethics Executive Committee and taught courses for the AICPA, and has authored several courses on Professional Ethics. Tom was awarded the Public Service Award by MACPA and was recognized by the AICPA for his public service. Tom has served for 20 years on the Melwood Training Center Board, including five as the Chairman of the Board. Melwood, located in Maryland, is a large nonprofit organization providing diverse training, employment, and residential services for persons with disabilities. The City of Alexandria named him the Outstanding Advocate for Persons with Disabilities. Tom graduated from the University of Maryland with a BS in Accounting.

Richard L. Mostyn, Co-Founder and Vice Chairman, The Bozzuto Group

Richard L. Mostyn

Co-Founder and Vice Chairman, The Bozzuto Group

Rick joined the HFA Board in October 2014 after serving on the Finance and Audit Committee for two years.  He is an Owner, Vice Chairman and Chief Operating Officer for the Bozzuto Group one of the largest and most successful development companies in the Mid-Atlantic region.  He was Senior Vice President and Chief Financial Officer for Oxford Development Corporation’s development, construction and property management operations nationwide and during his nine year tenure the majority of his time was spent in the Mid-Atlantic Region as Senior Vice President of Property Management and Regional Controller with full responsibility for property management, administrative and financial operations.  Previous to his employment at Oxford he was a Senior Accountant with Coopers and Lybrand in Baltimore, Maryland.  During his career at Bozzuto Group and Oxford he was responsible for coordinating the financing of over $1.1 billion in land development, construction and permanent financing for investment and for-sale properties.  He has served on many committees and boards related to affordable housing including serving several terms on the Maryland Department of Housing and Community Development Housing Finance Review Committee and on the Board of a national nonprofit organization.

Rick earned a Master of Administrative Science, Financing, from John Hopkins University, Maryland and a Bachelor of Science, Accounting and Administration from the University of Maryland.  He is a Certified Public Accountant and Certified Managerial Accountant. 

Patrick Sheridan, Principal, Sheridan Consulting, LLC

Patrick Sheridan

Principal, Sheridan Consulting, LLC

Patrick Sheridan is the Principal in Sheridan Consulting, LLC, an affordable housing consulting firm.  Previously he was Executive Vice President for Housing for Volunteers of America. Mr. Sheridan was responsible for overall strategy and administration of senior, multi-family, special needs housing for the organization’s national portfolio. Sheridan also was Assistant Deputy Administrator for Multi-Family Housing, Rural Housing Service, USDA, where he was responsible for implementation and management of affordable multi-family housing programs. He was also the Director of Housing Management for Maryland Community Development Administration, DHCD, along with private sector positions in asset management and development. He is an advisory board member to the Valued Advisor Fund, a new markets tax credit fund, and an editorial advisor to Affordable Housing Finance magazine.

Jeffrey R. Stern, Founder, Riverside Advisors, LLC

Jeffrey R. Stern

Founder, Riverside Advisors, LLC

Jeff began his career in 1979 and has worked for non-profit, for-profit and governmental agencies.  In 2006 he left Enterprise Mortgage Investments, Inc. which he helped found and started Riverside Advisors, LLC. Riverside Advisors focuses on working with public agencies and developers to create strategic approaches to redeveloping communities as well as their portfolios of properties.  Riverside has developed programs to finance affordable single family and rental properties as well as a charter schools.  Riverside acted as project manager on several recapitalizations of affordable rental properties and two charter schools. Mr. Stern has acted as a key policy and program advisor to community development and FHA lenders.


Jeff is a member of the board of directors the Maryland Public Charter School Association, Homes for America, and NextStep, Inc.

Emeritus Board Members

Nancy S. Rase, President & CEO (ret.), Homes for America, Inc., Co-Founder and Board Emeritus Director

Nancy S. Rase

President & CEO (ret.), Homes for America, Inc., Co-Founder and Board Emeritus Director

Nancy S. Rase is the Principal of Nancy Rase Consulting Services, LLC.  The business was created in October 2015 to provide consulting services to housing organizations and public agencies involved in the affordable housing industry.


Nancy is a co-founder and the former President and CEO of Homes for America, Inc.  She remains as an Emeritus Director of the organization. During her tenure from September 1994 through October 2015 HFA developed or preserved 75 rental communities with over 6,000 apartment homes in the mid-Atlantic states of Maryland, Pennsylvania, Virginia and Delaware.


Prior to HFA, Nancy was with the Maryland Community Development Administration for 16 years where she served as the agency’s Deputy Director, Director of Housing Development Programs, and Director of Rehabilitation Programs.   She also worked for seven years in local government as the Assistant Manager at the Housing Authority of the City of Hagerstown. 


Nancy has served on many Boards during her career and currently is on the Boards of:  Housing Association of Nonprofit Developers (HAND) and is a past President, Anne Arundel Affordable Housing Coalition, Arundel Community Development Services, Inc. and Chesapeake Neighbors (an affiliate of the ARC of the Central Chesapeake). She serves on the Development Review Committee of Volunteers of America, the Investment and Asset Management Committee of the Housing Partnership Network and the Loan Committees of the Housing Partnership Loan Fund and Housing Partnership Ventures.


She has a B.S. in Finance from the University of Baltimore.

Peter Bell

Josephine A. Kane

Bradley Fennell

Mary Grace Folwell

Bernard L. Tetreault

Lisa J. Yaffe

Diane Yentel

Past Board Members

Amy Anthony

Terrance R. Duvernay

Joseph A. L. Errigo

Eugene F. Ford

Debbi Hurd Baptist

Ellen Lazar

Christine M. J. Oliver

Dwight Robinson

Shauna Sorrells

HFA is advised by an experienced and distinguished Board of Directors