Meet Howard Epstein | National OREO Executive at Bank of America and Founder of the Arizona Housing Fund

We had the good fortune of connecting with Howard Epstein and we’ve shared our conversation below.

Hi Howard, career-wise, where do you want to be in the end?
I have always looked up to people who work really hard their entire career, make a lot of money, and use their success to improve their communities and the world. When I reach the end of my career, I want to be able to look back and see that I have made an impact by creating a sustainable source of funding that ensures that all Arizonans have a place to call home. That is really why I founded the Arizona Housing Fund. It has been extremely rewarding to see business leaders join this initiative, and to see real momentum in the effort.

Alright, so for those in our community who might not be familiar with your business, can you tell us more?
In Arizona, there are approximately 10,000 people who are either living in emergency or transitional shelters, in a car or on the street, who need permanent housing right now. Through my involvement on nonprofit boards, I have been trying to solve the issue of homelessness in our community for decades. In 2019, I created the Arizona Housing Fund to help provide equity capital to fund more permanent housing units to our state.

When I first began this effort, I wanted to see legislation that would add a $25 fee to all homes sold. However, I quickly learned that the chance of passing such legislation was extremely unlikely.

I created Arizona Housing Fund as a private sector solution to a growing problem. We ask real estate agents, title companies, notaries, buyers and sellers of homes (essentially anyone who is involved in the escrow process) to donate $25 for each deal closed. It’s the equivalent to a donation at the grocery store checkout. Thanks to broad support from real estate brokerages, homebuilders, and individual donors, we are hopeful that this could become a funding model for the other 49 states.

We also recently added a new source of funding called the Lease Application Donation Program. Participating apartment owners and operators donate $5 to the Arizona Housing Fund for each lease application they receive, and they also give their residents an opportunity to round up their rent payment or make a donation in their rent payment portal.

Since the Arizona Fund was founded, we have raised nearly $2 million, and granted $1.35 million to eight nonprofit housing projects that will provide homes to hundreds of Arizonans previously experiencing homelessness.

If you had a friend visiting you, what are some of the local spots you’d want to take them around to?
We are so fortunate to live in Arizona! I would take a visitor to play a round of golf, tennis, or go for a hike — and soak up the beauty of the Sonoran desert. I live in North Central Phoenix where we have an abundance of great restaurants and shopping. And Downtown Phoenix is an ideal spot for taking in the many cultural opportunities or catching an Arizona Diamondbacks or Phoenix Suns game.

The Shoutout series is all about recognizing that our success and where we are in life is at least somewhat thanks to the efforts, support, mentorship, love and encouragement of others. So is there someone that you want to dedicate your shoutout to?
I am moved and influenced by those who have dedicated their lives to solving the problems in our community. Those who are relentless in doing the right thing. I would like to take this opportunity to thank two of the biggest supporters and advocates for the Arizona Housing Fund. Brian North, the founder of North & Co. residential real estate brokerage and Steve Hilton, chairman of Meritage Homes, embraced the concept of the Fund from its inception, and have rallied their teams to get involved. Every month, North & Co. and their agents make a contribution of $25 or more to the Arizona Housing Fund for every deal closed, and Meritage Homes does the same for every new home sold. This adds up to thousands of dollars donated every month. And every one of those dollars will be granted to experienced Arizona nonprofits that specialize in permanent supportive, affordable and workforce housing. The Arizona Housing Fund started as an idea, but it is people like Brian and Steve who are making it a reality.

Website: arizonahousingfund.org

Instagram: @arizonahousingfund

Linkedin: https://www.linkedin.com/company/arizonahousingfund

Twitter: @azhousingfund

Facebook: @arizonahousingfund

Youtube: https://www.youtube.com/channel/UC83gMhdKw_X1LAdnIMhpvHA

Image Credits
Claudia Johnstone