Housing Development Fund Names New Loan Officer

Myriam J. Mena-Polk Joins Non-Profit Bank as It Consolidates Loan Departments

STAMFORD, Conn., February 20, 2007 - The Housing Development Fund (HDF), a unique nonprofit bank providing funding for affordable housing and an array of homebuyer assistance programs, named Myriam J. Mena-Polk a Loan Officer as it consolidates its single-and multi-family loan departments. This move is intended to create efficiencies in its loan underwriting process. Mena-Polk will evaluate, authorize, and recommend approval of customer applications for the residential real estate loans that HDF provides to qualified homebuyers and developers.

For the nine years prior to joining HDF, Mena-Polk held various positions with People’s Bank, Bridgeport, Conn., a private lending partner of HDF. She began as a Corporate Operations Representative, handling a variety of federal and state compliance issues and advising on IRS retirement and tax liabilities policies. As Senior Commercial Loan Operations Representative, she oversaw an array of commercial loan operations functions. For the past year, Mena-Polk served as Senior Loan Documentation Representative, interpreting legal documentation for the commercial accounting system and monitoring adherence of commercial loans and mortgage packages to legal and regulatory requirements. She attended Housatonic Community College, in Bridgeport, Connecticut and is also a Bridgeport resident.

“ We are excited that Myriam has joined our team,” said Joan Carty, HDF’s executive director. “Her experience in loan operations and her knowledge of legal requirements in lending will be very valuable to HDF as we continue creating a more concentrated and efficient loan department to better serve our customers.”

HDF provides homebuyers with homebuyer finance, counseling and assistance programs. It also offers low-interest, flexible financing and technical assistance to developers and municipalities, and works with the private sector, other nonprofits, and government entities to facilitate the development of more affordable housing.

About Housing Development Fund
Founded in 1989, the Housing Development Fund has expanded to serve all of southwestern Connecticut from its headquarters in Stamford and a Danbury office opened in 2004. HDF offers a variety of homebuyer programs, including its First Time Homebuyers Program, SmartMove low interest second mortgage Program, CHFA (Connecticut Housing Finance Authority) approved Homebuyer Education Classes Program and Below Market Rate Program (BMR). HDF is a HUD-certified lender and Housing Counseling agency.

HDF’s Multi-Family Lending Program facilitates the development of affordable housing. It provides multi-family homebuyers, nonprofit and private developers of affordable, senior and special needs units with a variety of finance options. HDF provides acquisition/construction, pre-development, bridge and permanent first mortgage financing at favorable interest rates – one of the only local sources of long-term, below market financing for affordable housing in its service area. Through its approach that pools risk for lenders, HDF is a leader in providing first mortgages for the development of multi-family units.

HDF manages public/private partnerships to lend funds for these affordable housing initiatives – it has the largest public/private pool of first mortgage financing for affordable housing in Connecticut – both homeownership and multi-family development- $38 million.

The Housing Development Fund, Inc. has its headquarters at 100 Prospect Street, South Tower Plaza, Suite SP-101, Stamford, Connecticut 06901. It also maintains an office at 8 West Street, Suite 202-204, Danbury, Connecticut 06810. For additional information call Tami Strauss at 203-969-1830 x19 or visit www.hdf-ct.org.