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
http://www.enterprisecommunity.com 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