CULVER CITY, Calif., March 28, 2018 /PRNewswire/ -- Culver-City-based Century Housing was named among the Top 25 Affordable Lenders of 2017 by Affordable Housing Finance (AHF) Magazine. The list includes the most productive financial institutions supporting the development of affordable homes throughout the nation.
"It is extraordinary that Century, as a Community Development Financial Institution (CDFI) limited in scope to just California, is able to compete against conventional banks doing business nationally," said Ron Griffith, President & CEO of Century Housing. "This is a testament to the tremendous effort of California's multifamily housing developers in trying to meet the critical need for affordable homes in California, and of Century's ability to respond to their financing needs."
"As we enter another year of uncertainty for the affordable housing industry, we feel fortunate to be able to continue providing reliable financing, to help fill the gaps left behind by tax reform and reductions to housing programs," said Alan Hoffman, Senior Vice President of Century Housing Corporation.
Century provided more than $145 million in financing to support affordable development in 2017, which included acquisition, bridge, and permanent loans. These transactions will lead to approximately 3,361 new and preserved homes and 3,383 construction jobs throughout California.
Century Housing Corporation is a mission-driven Community Development Financial Institution (CDFI) supporting quality affordable home development throughout California. With offices in Culver City, Long Beach and San Francisco, Century provides innovative end-to-end financing from predevelopment to permanent loans.
Century's work has resulted in more than $1 billion in financing for over 27,000 new affordable homes.
To read the full AHF article, which includes expert forecasts for 2018, at http://www.housingfinance.com/finance/lenders-persevere-through-market-disruptions_o.
SOURCE Century Housing