About Urban Futures
45+ Years of Compliance Expertise. Now Becoming a Platform.
Urban Futures Bond Administration was founded in 1979 by Marshall Linn with a single purpose: to help public agencies manage the complexity of affordable housing compliance so they could focus on what they do best — providing quality rental housing in their communities.
Today, UFBA is one of the nation’s largest affordable housing compliance firms, serving housing authorities, bond issuers, and public agencies across California, Arizona, Nevada, and Colorado. Our portfolio includes over 2,300 active projects and 150,000+ affordable units — more than any other firm in the Western United States.
And we’re not stopping there. UFBA is now developing its next chapter: transforming the proprietary Compliance Monitoring System that powers our managed service into a commercially licensable SaaS platform — so other compliance professionals and agencies can benefit from the same technology infrastructure we’ve spent decades refining.
Our mission
To protect the integrity of publicly funded affordable housing programs by providing public agencies with the most rigorous, technology-enabled compliance monitoring available — and to make that capability accessible at scale through modern software.
Our clients
UFBA’s clients are the public agencies responsible for affordable housing in their communities — not property owners or developers, though we work closely with them. Our primary relationships are with housing authorities, city housing departments, bond issuers, and state-chartered development authorities.
Notable clients include: Los Angeles Housing & Community Investment Department (LAHD) · California Statewide Community Development Authority (CSCDA) · numerous cities and housing agencies across CA, AZ, NV, and CO.
Leadership
Marshall Linn
President & CEO
Marshall founded UFBA in 1979 and has led the firm’s growth from a single-agency practice to the Western US’s preeminent affordable housing compliance organization. His expertise spans LIHTC, bond programs, HOME, HUD Multifamily, and the full spectrum of publicly administered affordable housing financing.
Raette Frazeur, HCCP, NCP
Vice President
Raette joined UFBA in 2008 and manages the firm’s compliance operations across a portfolio of 150,000+ affordable units. Her clients include LAHD and CSCDA. She is a certified Housing Credit Compliance Professional (HCCP) and National Compliance Professional (NCP) — and a leading voice on compliance policy for UFBA’s public agency clients.
Sara Tobin, HCCP, NCP
Operations Manager
Sara has been in the industry 15+ years and is responsible for overseeing compliance staff for the CSCDA portfolio consisting of over 50,000 units. She specializes in the compliance monitoring of multifamily rental housing projects that are multi-layered, combining HOME, LIHTC, Bond & Project-Based Section 8 (among other programs) funding sources. She works with and educates Owners, Property Management Companies and Property Managers, reviews and analyzes compliance reports, tenant certifications & re-certifications to determine program eligibility, and conducts on-site audits. In addition to her monitoring responsibilities, Sara performs the department’s daily administrative tasks, oversees the clerical staff, and assists with client and project communications. Ms. Tobin attended Cal Poly Pomona.
The road ahead
UFBA is executing a full technology modernization — rebuilding the CMS as a modern, secure, white-labeled platform that compliance professionals and agencies can license for their own use. The result will be a commercially available SaaS product that makes UFBA’s compliance expertise accessible to the broader market. This represents the next evolution of a 45+ year legacy — and we are actively seeking pilot partners and early licensees.