Housing Development Fund Names Kevin
M. Porter
Assistant Director of Lending
STAMFORD, Conn., March 20, 2007 - The Housing
Development Fund (HDF), a unique nonprofit bank providing
funding for affordable housing and an array of homebuyer
assistance programs, named Kevin M. Porter assistant director
of lending. In his new position with HDF, Porter will supervise
all lending staff, oversee HDF’s homebuyer assistance
programs, coordinate loan closings, approve loan disbursements
and manage the HDF loan portfolio. His efforts will contribute
to HDF’s mission to facilitate the development of affordable
housing in southwestern Connecticut and assist households
to become owners of affordable homes.
Before coming to HDF, Porter served as mortgage representative
for Massachusetts State Employees Credit Union in Boston,
Mass., where he originated, underwrote, and closed mortgage
loans. There he also assisted first-time homebuyers in understanding
the mortgage process. As director of development and marketing
for Bethex Federal Credit Union in Bronx, New York, Porter
oversaw all grant writing and reporting, developed and implemented
a marketing strategy, and assisted with strategic planning,
as well as staff and organizational development. Earlier
he served with the Bank of New York, New York, N.Y., implementing
sales initiatives.
Porter graduated from New School University in New York,
N.Y., with a master’s degree in Economics. He also
holds a bachelor’s degree in Economics from Bates College,
Lewiston, Maine.
“
We value Kevin’s experience in handling lending transactions
and particularly in assisting first time homebuyers with
the mortgage process,” said Joan Carty, HDF’s
executive director. “Having him on board contributes
to HDF’s loan department consolidation and will help
us provide even more efficient service in the future.”
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.
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