Funding Partners 2009 Highlights
Release Date:February 18th, 2010
Fort Collins, CO, February 18, 2009 – Funding Partners, a not-for-profit Community
Development Financial Institution, has released production figures for 2009, which
demonstrate continued strength in housing finance activities despite the economic
hardships felt across the nation. Utilizing loan products specifically designed
to enhance long-term affordability, the organization provides low-cost flexible
financing to individuals, housing agencies, employers and for-profit developers.
Primarily targeting households earning less than $30 per hour, FP originated
149 subordinate mortgage loans and funded 5 housing projects during the year,
representing $4,921,205 in loan volume.
Through direct lending, the organization provided assistance to 54 first-time homebuyers through the House to Home Ownership (H2O) Down Payment
Program® with a production volume of $429,817. Through the Employee Home Ownership Program (EHOP)® and other third-party loan
services, the organization originated 95 loans to first-time buyers, move-up buyers, and current homeowners making property
improvements with a volume of $2,471,388.
The Mammel Affordable Housing Loan Fund (MAHLF), enabled for-profit developers
and non-profit agencies were able to acquire or create 180 affordable residential units. Under this program, $2,020,000 from FP leveraged in excess of $25,668,729 from traditional financing sources. Housing created under this program provides
permanent affordability to households that include those transitioning from homelessness
to families earning less than 80% of Area Median Income (AMI).
According to Ron Schneider, President of the Funding Partners Board of Trustees,
“With headlines and earnest discussion of a broken financial system, it’s worthy
to note the important role of dynamic, community-based institutions in supporting
a wider economic recovery.” Schneider continues, “These past few years have been
an extreme challenge for many Coloradans, more so for those out of work or struggling
to get by at a fraction of their previous income. However, every challenge brings
new opportunity for those willing to adapt and persevere. Funding Partners is
proud to support those willing to seize the day.”
For further information regarding Funding Partners’ 2009 production, please visit
www.fundingpartners.org for a full copy of our 2009 Investor Letter.
Contact Information:
Megan Gifford
Funding Partners for Housing Solutions
214 S. College Ave, Second Floor
Fort Collins, Colorado 80524
Megan Gifford
Funding Partners for Housing Solutions
214 S. College Ave, Second Floor
Fort Collins, Colorado 80524