BALTIMORE, Oct. 1, 2007 (PRIME NEWSWIRE) -- AmeriNational Community Services, Inc. is pleased to announce that it has been selected by the District of Columbia Department of Housing and Community Development (DHCD) to service their multi-million dollar loan portfolio.
DHCD offers financial assistance to low- and moderate-income District residents through down payment assistance loans and residential rehabilitation loans. The Department also supports efforts to maintain affordable housing opportunities and promotes the purchase and renovation of aging and abandoned houses.
Loans are made by the DHCD under the following programs: Home Purchase Assistance Program (HPAP), the Employer-Assistance Housing Program (EAHP), the Metropolitan Police Housing Assistance Program (MPHAP), the Single-Family Housing Rehabilitation Program (SFHRP), the Multi-Family Rehabilitation Program (MFHRP), and the Economic Development Program (EDP).
"DHCD is committed to creating and maintaining stable neighborhoods," said George Dines, DHCD agency fiscal officer. "AmeriNational was selected as our loan servicing provider because of their excellent history, progressive programs and outstanding customer service. We're confident that AmeriNational will provide a smooth, seamless transition for our many valued district borrowers."
"We're very pleased that DHCD had the confidence in AmeriNational to service their portfolio of over 6,000 loans," said Tim O'Malley, senior vice president of sales and marketing at AmeriNational. "The DHCD's portfolio consists of loans with unique terms - some deferred, some blended - requiring specialized handling. They needed a servicer who is knowledgeable and could provide individualized attention to each of their borrowers. We feel we're a perfect fit and we are proud to partner with DHCD. It's all part of our strategic plan to augment our role in the Baltimore and Washington D.C. markets."
AmeriNational has been servicing loans in this industry for over 30 years, and works with over 175 municipalities and agencies across the United States. AmeriNational currently services over 35,000 loans with an unpaid principal balance of approximately $2.2 billion.
About AmeriNational Community Services, Inc.
AmeriNational is a high-touch professional services firm with a strong background providing turnkey portfolio management services for housing agencies and municipal clients throughout the country. AmeriNational specializes in servicing loans made by cities, counties and other agencies under government-sponsored affordable housing programs. Other services include loan underwriting and document preparation, default management, funds disbursement, site inspections, tax credit monitoring and labor compliance monitoring. AmeriNational is a subsidiary of American Bank of St. Paul and has offices in Baltimore, Los Angeles, Tampa, North Liberty, Iowa and Albert Lea, Minnesota. For more information on AmeriNational, please visit www.amerinational.net.
The AmeriNational Community Services, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=4233