Maryland-Based Enterprise Mortgage Investments Opens New Office in Madison, WI

Russell Kaney Establishes Multifamily Mortgage Finance Midwest Base

Nov 23, 2005, 00:00 ET from The Enterprise Social Investment Corporation

    COLUMBIA, Md., Nov. 23 /PRNewswire/ -- Enterprise Mortgage Investments,
 Inc. (Enterprise) announces the opening of a new office in Madison, Wis.  With
 headquarters in Columbia, Md., Enterprise provides comprehensive capital
 products and services for affordable housing and community development
 including multifamily mortgage finance, tax credit syndication and structured
 finance.  Enterprise is a national leader in providing permanent mortgage
 financing for affordable housing development offering new construction,
 rehabilitation, and preservation mortgages.
     Newly named Director Russell Kaney is establishing Enterprise's presence
 in the Midwest to enhance service and outreach in a 10-state area, including
 Wisconsin, Minnesota, Iowa, Kansas and Missouri.  Mr. Kaney will be
 responsible for originating Fannie Mae loans and cross marketing Enterprise's
 entire line of community development finance products including bridge loans,
 pre-development loans and equity co-investments.
     "We are very pleased to have someone of Russ's caliber strengthening our
 business base in the Midwest," said Jeff Stern, senior vice president of
 Enterprise.  "He will be instrumental in our efforts to expand Enterprise's
 presence in the region while targeting our services to better meet the needs
 of our developer partners."
     In Wisconsin, Enterprise has financed over $53 million in debt, equity and
 grants for the development of over 350 affordable homes serving individuals,
 families, seniors and people with special needs, as well as commercial
 development of 130,000 square feet.
     Mr. Kaney brings significant affordable housing underwriting and asset
 management expertise to his position with Enterprise.  Prior to joining the
 company, he was a low income housing tax credit allocator and underwriter for
 the Wisconsin Housing and Economic Development Authority.  His career includes
 directing affordable housing investments for a Wisconsin-based real estate
 investment firm in addition to underwriting and asset management for Rural
 Development, a credit agency of the United States Department of Agriculture.
 In this capacity, Mr. Kaney held office assignments in south Florida and he
 assisted in the massive effort to reconstruct devastated housing there in the
 aftermath of Hurricane Andrew in 1992.
     Mr. Kaney is a graduate of the University of Wisconsin-Madison and served
 in the U.S. Action/Peace Corps program in Colombia, South America.
     Enterprise is a leading provider of the development capital and expertise
 it takes to make sure every American lives in a decent, affordable home.
 Enterprise leverages low-income housing tax credits, new markets and historic
 rehabilitation tax credits, and other short- and long-term financing to
 capitalize projects that make a catalytic difference in communities.  From
 critical financing tools and technical assistance, to development services,
 Enterprise is helping to transform the lives of low-income Americans.  Over
 the past two decades, Enterprise has privately raised $6 billion in equity,
 grants, and below-market financing to create homes and better communities for
 175,000 low-income individuals and families.  Visit to learn more about Enterprise's efforts to
 build communities and opportunity, and to meet some of the half million people
 we have helped.

SOURCE The Enterprise Social Investment Corporation