NEW YORK--(BUSINESS WIRE)--Two Harbors Investment Corp. (NYSE: TWO), a leading hybrid mortgage real estate investment trust, today announced that it has secured a $410,000 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 providing affordable housing 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 41 new construction housing units over the next year allowing qualifying families earning up to 50% of area median income, safe and affordable housing.
“With our continued commitment to the community and through our sponsorship, we are pleased to announce that Twin Cities Habitat for Humanity is a 2016 FHLB Des Moines AHP grant recipient. This grant will help Twin Cities Habitat for Humanity provide affordable single family housing for families in the Twin Cities metro region,” said Thomas Siering, Two Harbors’ President and Chief Executive Officer. “We are thrilled that through our association with the FHLB, we were able to assist in this process and we’re proud of our association with all of the charitable organizations we support. We extend our warmest congratulations to Twin Cities Habitat for Humanity.”
“In an increasingly challenging funding environment for public affordable housing projects, Two Harbors, through its subsidiary TH Insurance Holdings Company, has stepped up in a big way with its Twin Cities Habitat for Humanity/ FHLB partnership,” said Susan Haigh, President and Chief Executive Officer of Twin Cities Habitat for Humanity. “Partners like Two Harbors inspire our mission to eliminate poverty housing from the Twin Cities area and to make decent, affordable shelter for all people a matter of conscience.”
AHP – FHLB Des Moines
As a member of the 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 2016 AHP grant to make affordable housing available in Minneapolis. The 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 annual to communities in its district through the 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 prosperity for families of the 7-county metro region through the production and preservation of homeownership. 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. Twin Cities Habitat for Humanity is an affiliate of Habitat for Humanity International, which since 1976 has helped build and repair more than 800,000 homes around the world, providing more than 4 million people a safe, decent, and affordable home.
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, commercial real estate 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.
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., 590 Madison Avenue, 36th floor, New York, NY 10022, telephone 612-629-2500.