Unit Cost Reporting in New York City Government

The State of New York Mortgage Agency (SONYMA) is a public benefit corporation that provides affordable homeownership opportunities for low- to moderateincome first-time homebuyers in New York State. Seeking to increase its market share among qualified first-time homebuyers, SONYMA identified two underlying challenges to this goal. First, there is limited awareness of its mortgage products among loan officers, first-time homebuyers, and organizations that work with firsttime homebuyers. Second, SONYMA lacks needed information from these decisionmakers about the factors that drive their loan choices beyond its own products. SONYMA requested the help of a Capstone team to address these challenges. The team designed and conducted interviews with key stakeholders, analyzing the results to provide SONYMA with a comprehensive list of marketing recommendations, accompanied by cost-benefit analyses, to increase public awareness of first-time homebuyer loan programs throughout New York State.