NEW YORK--(BUSINESS WIRE)--
Two Harbors Investment Corp. (NYSE: TWO), a leading hybrid mortgage real estate investment trust, today announced that through its subsidiary TH Insurance Holdings Company it had secured a $340,000 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 34 new construction housing units over the next year in the Twin Cities metropolitan area, allowing qualifying families earning up to 50% of area median income to buy safe and affordable housing.
“We are excited to announce that through our association with FHLB Des Moines, we were able to secure a 2017 AHP grant for Twin Cities Habitat for Humanity. This grant will help Twin Cities Habitat for Humanity continue to provide affordable, safe, single family housing for families,” said Thomas Siering, Two Harbors’ President and Chief Executive Officer. “We are proud of our association with all of the charitable organizations we support and extend our warmest congratulations to Twin Cities Habitat for Humanity.”
“We are so grateful for Two Harbors’ commitment to affordable housing for families in our community,” said Susan Haigh, President and CEO, Twin Cities Habitat for Humanity. “Our partnership with Two Harbors and its subsidiary TH Insurance Holdings unlocked this grant, which supports stable, affordable homeownership for local families. The impact of the award multiplies for generations, as kids do better in school, homeowners gain financial independence, and families experience the stability and safety of Habitat homeownership.”
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
2017 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 annual to communities in its district 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 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 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., 590 Madison Avenue, 36th floor, New York, NY 10022, telephone 612-629-2500.
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