Two Harbors Investment Corp. Secures Competitive Affordable Housing Program Grant for Twin Cities Habitat for Humanity
NEW YORK--(BUSINESS WIRE)--Jan 2, 2019--. (NYSE: TWO), a leading hybrid mortgage real estate investment trust, today announced that through its subsidiary TH Insurance Holdings Company it had secured a $250,000 Competitive Affordable Housing Program (AHP) grant through the Federal Home Loan Bank of Des Moines (FHLB Des Moines) for Twin Cities Habitat for Humanity. Twin Cities Habitat for Humanity is a nonprofit organization focused on creating and preserving affordable homeownership and improving the quality of life for low-income families in the Minneapolis – St. Paul, Minnesota metro region. Twin Cities Habitat for Humanity will use the funds to invest in 25 new construction housing units over the next year in the Twin Cities metropolitan area, allowing qualifying families earning up to 80% of area median income to buy safe and affordable homes.
“Once again this year, we are excited to announce that we secured an AHP grant for 2018 for Twin Cities Habitat for Humanity. Through our association with the FHLB, we have secured grants for Twin Cities Habitat for Humanity over the past three years. This grant will help them continue to provide affordable and safe single family housing for families in the Twin Cities,” stated Thomas Siering, Two Harbors’ President and Chief Executive Officer. “We extend our warmest congratulations to Twin Cities Habitat for Humanity.”
“We are grateful to Two Harbors and its subsidiary TH Insurance Holdings for securing the AHP grant for 2018 for our organization,” said Chris Coleman, President and CEO, Twin Cities Habitat for Humanity. “We have built a strong partnership with Two Harbors and are very appreciative of their ongoing commitment to supporting affordable homeownership for families in our community.”
AHP – FHLB Des Moines As a member of FHLB Des Moines, TH Insurance Holdings Company LLC, a Two Harbors subsidiary, was eligible to support Twin Cities Habitat for Humanity in its application for a 2018 AHP grant to make affordable housing available in Minneapolis. AHP is one of the largest sources of private sector grants for housing and community development in the nation. This competitive grant program encourages member financial institutions to partner with local housing providers (sponsors) to secure funds for the purchase, construction or rehabilitation of affordable owner-occupied or rental housing units. Projects serve low-to-moderate income households, and may include households with special needs including seniors, persons with disabilities and the homeless. FHLB Des Moines returns 10% of its net income annually to communities through AHP.
Twin Cities Habitat for Humanity Two Harbors is a proud supporter of Twin Cities Habitat for Humanity, a nonprofit organization committed to building the quality of life, health, and economic prosperity of the region by producing, preserving, and advocating for affordable homeownership – because homes and families are the foundation of successful communities. Twin Cities Habitat for Humanity’s mission is to eliminate poverty housing from the Twin Cities and to make decent, affordable shelter for all people a matter of conscience. Since 1985, more than 1,200 families have partnered with Twin Cities Habitat to achieve homeownership, building stability that multiplies for generations. Twin Cities Habitat is recognized as an Affiliate of Distinction and is one of the highest-regarded Habitat for Humanity affiliates nationwide. www.tchabitat.org.
Two Harbors Investment Corp. Two Harbors Investment Corp., a Maryland corporation, is a real estate investment trust that invests in residential mortgage-backed securities, mortgage servicing rights and other financial assets. Two Harbors is headquartered in New York, New York, and is externally managed and advised by PRCM Advisers LLC, a wholly owned subsidiary of Pine River Capital Management L.P. Additional information is available at www.twoharborsinvestment.com.
Additional Information Stockholders of Two Harbors and other interested persons may find additional information regarding the company at the Securities and Exchange Commission’s Internet site at www.sec.gov or by directing requests to: Two Harbors Investment Corp., 575 Lexington Avenue, Suite 2930, New York, NY 10022, telephone 612-629-2500.
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CONTACT: Investors: Margaret Field, Investor Relations, Two Harbors Investment Corp.
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: REIT CONSTRUCTION & PROPERTY
SOURCE: Two Harbors Investment Corp.
Copyright Business Wire 2019.
PUB: 01/02/2019 04:18 PM/DISC: 01/02/2019 04:18 PM