Articles from The Change Company

The Change Company CDFI, LLC (“The Change Company”) announced today that it was awarded judgment from a state court in New York for over $94 million from Yeti Global Services (“YGS”). Former employee of The Change Company, Adam Levine, formed YGS and is its sole owner. The complaint filed by The Change Company alleged that YGS received documents stolen by Mr. Levine from The Change Company and facilitated Mr. Levine’s scheme to extort The Change Company by planting damaging stories about The Change Company.

Change Lending is pleased to announce the appointment of Madison Simm as Chief Executive Officer (“CEO”). Mr. Simm, who currently serves as Chief Financial Officer (“CFO”), will continue in that role while assuming leadership of the company’s strategic vision and operational growth.

Change Lending is pleased to announce the appointment of Madison Simm as its Chief Financial Officer (“CFO”). Madison brings a wealth of experience and a proven track record of success in residential mortgage lending, servicing, and capital markets that will support Change Lending’s strategic growth in these areas.

The Change Company CDFI LLC and its subsidiary Change Lending, LLC (“Change”) – America’s CDFI – are pleased to announce that Change has closed its seventh securitization of its proprietary Community Mortgages, and the first such securitization which earned an AAA rating for the senior A1 class. There were 16 unique investors in the $307 million offering, demonstrating the growing interest and strengthening demand from well-established RMBS investors, including socially responsible Money Managers, Banks, Insurance Companies and Private Funds.

The Change Company CDFI LLC and its subsidiary Change Lending, LLC (“Change”) – America’s CDFI – are pleased to announce that Change has closed its sixth securitization of 2022. Investors in the $201 million offering included socially responsible asset managers seeking to finance home loans to credit-worthy Black, Latino, and low-income borrowers and communities.

The Change Company CDFI LLC (“The Change Company”), America’s Community Development Financial Institution (CDFI), announced today that the Company and its affiliates have raised $88 million of cumulative, perpetual preferred equity membership interests (the “Preferred Equity”) through two private placement offerings (the “Offerings”). The Change Company and its affiliates have successfully raised over $400 million over the past eighteen months to expand access to capital to low-income borrowers and communities.

The Change Company, America’s Community Development Financial Institution (CDFI), is pleased to announce that it has closed the first ever securitization of residential home loans originated entirely by a CDFI. Investors in the $297 million offering included socially responsible asset managers and banks seeking to finance home loans to credit-worthy Black, Latino, and low- and moderate-income borrowers and communities.

The Change Company, America’s Community Development Financial Institution (CDFI), announced today that it has been named to the prestigious FORTUNE 2021 “Change the World” list. The annual list recognizes leading businesses that exemplify the power of capitalism to improve the human condition by addressing important social or environment impacts through their core profit-making strategy and operations.

The Change Company, America’s Community Development Financial Institution (CDFI), announced today the closing of a private placement (the “Offering”) of $75 million aggregate principal amount of its 4.75% Senior Notes due 2031 (the “Notes”). Investors in the Notes include over 35 socially responsible insurance companies, asset managers and banks seeking to participate in impactful ESG investment opportunities that provide access to capital in support of homeownership for Black, Latino, and Low-Income borrowers and communities. The Change Company and its affiliates have successfully raised over $300 million in new Sr. Debt and Perpetual Preferred Equity over past twelve months in support of its community development mission.

The Change Company, America’s Community Development Financial Institution (CDFI), announced today the release of “Homeownership, racial segregation, and policy solutions to racial wealth equity,” a new Brookings Institution report sponsored by The Change Company. The report provides an empirical analysis of racial segregation in several cities across the U.S. and explores the role that segregation and subsequent disparities in homeownership, home valuations, and access to banking services play in the growing racial wealth gap.

The Change Company, America’s Community Development Financial Institution (CDFI), announced today that its founder Steven Sugarman presented to the 74th Annual National Association of Real Estate Brokers (NAREB) Convention in Cleveland, Ohio. Mr. Sugarman spoke during the Legislative Forum and discussed the unique opportunity for advocacy that exists for NAREB and The Change Company to impact public policy and end government sponsored or sanctioned redlining in America. Mr. Sugarman discussed advocacy positions which would help to immediately expand homeownership across the Black community and begin to reduce the wealth gap between Black and white families in America.

The Change Company, America’s Community Development Financial Institution (CDFI), is proud to announce that it won the Comparably Award for Best Leadership Team 2021.

The Change Company, America’s Community Development Financial Institution (CDFI), is proud to announce that it won two Comparably Awards: Best CEO for Diversity 2021 and Best CEO for Women 2021.

The Change Company, America’s Community Development Financial Institution (CDFI), is pleased to announce the appointment of Jon Irvine as Chief Production Officer of its mortgage banking subsidiary Change Home Mortgage. Jon is responsible for revenue-generation strategy and execution across all origination channels, including Change Wholesale. His duties include overseeing the sales, marketing, onboarding, and training teams to ensure Change Home Mortgage executes its strategy to expand affordable homeownership across the United States.

The Change Company, America’s Community Development Financial Institution (CDFI), announced today it has acquired the woman-owned and operated real estate escrow services company Connect Escrow, Inc. (“Connect Escrow”).

The Change Company, America’s Community Development Financial Institution (CDFI), and its mortgage banking subsidiary Change Home Mortgage (the “Company”) announced today the rebranding of the Company’s wholesale division to Change Wholesale.

The Change Company, America’s Community Development Financial Institution (CDFI), announced today the rebranding of its mortgage banking subsidiary to Change Home Mortgage.

The Change Company, America’s Community Development Financial Institution (CDFI), announced today that its mortgage banking subsidiary Change Home Mortgage (“Change”) has appointed Denis Kelly its Chief Wholesale Officer.