Press & News
Good things are happeningThe Change Company Acquires Connect Escrow
APRIL 28, 2021 | BUSINESSWIRE
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”).
Leanne Alva, Connect Escrow’s Chief Executive Officer, said, “We are excited to join The Change Company and become part of America’s CDFI. Connect Escrow is founded on principles of strong, sustainable, and inclusive relationships to ensure all Americans have an equal ability to buy and sell real estate. Our technology platform is highly scalable and enables us to serve clients in communities that for too long have been underserved by credible and reliable service providers. Our digital platform will accelerate Change’s ability to meet its mission to bank the unbanked, fairly and responsibly.”
Commerce Home Mortgage’s Wholesale Division Has a New Name: Change Wholesale
APRIL 20, 2021 | BusinessWire
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.
Ted Ray, President of Change Home Mortgage, said, “This rebranding represents an important milestone as we focus our resources on scaling Change Wholesale. Our wholesale partners are able to benefit from Change Wholesale’s proprietary loan programs – including our Community Mortgage – and technology to finance prime borrowers their competitors can’t. As America’s CDFI, we are a mission-driven lender who enables our broker partners to grow their businesses by serving diverse borrowers with diverse needs.”
The Change Company Closes $150 Million Senior Debt Offering
MARCH 31, 2021 | BusinessWire
The Change Company, America’s Community Development Financial Institution (CDFI), announced today the closing of a private placement (the “Offering”) of $150 million aggregate principal amount of its 5.375% Senior Notes due in 2031 (the “Notes”). Investors in the Notes include over 45 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 approximately $250 million in new capital over past six months in support of their community development mission.
The Change Company Names Jason Biegel Chief Operating Officer of Residential Lending
MARCH 22, 2021 | BusinessWire
The Change Company, America’s Community Development Financial Institution (CDFI), has appointed Jason Biegel Chief Operating Officer of its residential lending division, which operates under the brands Change Home Mortgage and Change Wholesale. Mr. Biegel’s appointment will be effective upon the beginning of his employment on April 1, 2021.
The Change Company Launches Initiative to Expand Homeownership in Low to Moderate Income Communities
MARCH 10, 2021 | BusinessWire
The Change Company, America’s Community Development Financial Institution (CDFI), announced today the launch of its newest initiative to expand homeownership in low- to moderate- income (LMI) communities based on the research recently published by Prosperity NOW entitled “Expanding Homeownership in Low- to Moderate- Income Communities.” The Change Company’s initiative pledges $1 billion of fair and responsible new lending in LMI communities to expand homeownership. The Change Company has published the Prosperity NOW study on the Insights section of its website at www.changellc.com/insights/.
The Change Company Names B.C. Silver President of Digital Banking
MARCH 4, 2021 | BusinessWire
The Change Company, America’s Community Development Financial Institution (CDFI), has named B.C. Silver to be its President, Digital Banking and the Chief Executive Officer of Change Finance.
The Change Company Partners with Netflix to Expand Black Homeownership
MARCH 1, 2021 | BusinessWire
The Change Company, America’s Community Development Financial Institution (CDFI), announced today its partnership with Netflix to expand Black homeownership in America. The Netflix investment in affiliates of The Change Company is focused on bringing racial equity to home lending by financing Black homeowners, fairly and responsibly.
The Change Company Names Jesse Elhai Head of Capital Markets
FEBRUARY 25, 2021 | BusinessWire
The Change Company, America’s Community Development Financial Institution (CDFI), has appointed Jesse Elhai as Managing Director. Mr. Elhai is responsible for leading the company’s Capital Markets where he will oversee the financing, sales and trading, and securitization of all non-conventional whole loans.
The Change Company Welcomes Chris Gardner to its Board
FEBRUARY 24, 2021 | BusinessWire
The Change Company, America’s Community Development Financial Institution (“CDFI”), is proud to announce that Chris Gardner has joined its Board of Directors.
Mr. Gardner is an entrepreneur, single parent, and best-selling author of The Pursuit of Happyness and Start Where You Are. The Pursuit of Happyness became a New York Times and Washington Post #1 Bestseller as well as an iconic film starring Will Smith. Mr. Gardner is currently completing his newest book, Permission 2 Dream, which will be released in April 2021.
The Change Company Names Antonio Villaraigosa Board Chair
FEBRUARY 23, 2021 | BusinessWire
The Change Company, America’s Community Development Financial Institution (CDFI), is proud to announce that Antonio Villaraigosa, the 41st Mayor of Los Angeles, has been named the Company’s Board Chair. Mayor Villaraigosa brings his decades of experience as a public servant, educator, and advocate to The Change Company.
The Capital Corps Rebrands to The Change Company
FEBRUARY 17, 2021 | BusinessWire
Our new name -The Change Company – reflects our mission and our passion for immediate solutions to end the persistent structural economic inequalities that continue to impact minority and lower income Americans.
Commerce Home Mortgage Closes Follow-On Preferred Equity Offering
DECEMBER 30, 2020 | BusinessWire
Commerce Home Mortgage, LLC (“Commerce”) – one of America’s largest Community Development Financial Institutions (“CDFI”) – announced today the pricing and closing of a private placement (the “Offering”) of $31.5 million of cumulative, perpetual preferred equity units (the “Preferred Equity Units”). The Offering brings Commerce’s outstanding Preferred Equity Units to $81.5 million. Investors in the Preferred Equity Units include 18 socially responsible banks seeking to expand access to capital to low-income borrowers and communities throughout their market service areas.
Commerce Home Mortgage Raises $50,000,000 of Preferred Equity to Expand Access to Capital to Minority and Low-Income Americans
October 19, 2020 | BusinessWire
Commerce Home Mortgage, LLC (“Commerce”) – one of America’s largest Community Development Financial Institutions (“CDFI”) – announced today the pricing and closing of a private placement (the “Offering”) of $50 million of cumulative, perpetual preferred equity units (the “Preferred Equity Units”) by a consortium of socially responsible ESG Investors, including community and regional banks.