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Affordable Housing

Ocwen has a historical commitment to meeting the housing needs of low income and elderly residents through the development and revitalization of neighborhoods. Developers and local governments require financial partners such as Ocwen that have expertise in tax credit property development. Since 1996, Ocwen has made debt and equity placements of over $235 million in low income housing tax credit properties. Ocwen has acquired or developed over 54 low income housing tax credit properties totaling over 5,540 units.

 

Although we are no longer developing affordable housing projects, Ocwen provides oversight of for 5 GP and LP partnership interests and maintains an in-house affordable housing staff that is capable of handling the most complex affordable housing issues.

 

Ocwen’s Affordable Housing Department provides a full spectrum of experiences in managing LIHTC assets. We have the expertise and working experience on analyzing an asset and coming up with a strategic solution to maximize its value for the owners. We pride ourselves in performing detailed oriented hands-on asset management and understanding the asset from operational, organizational and market aspects. We drill down the financial statements and partnership documents to understand the unique situation of every deal. Maximizing value of an asset may be achieved by a number of vehicles such as improving the financial performance, refinancing, seeking additional grants, modifying the restrictions in LURAs, working with city/county government and non-profits in unique and often challenging situations, marketing and disposition of the property or partnership interests. Our Affordable Housing team is knowledgeable in LIHTC and loan compliance issues, as well as complex organizational structures.

 

Ocwen’s Affordable Housing Department caters to our clients’ needs by working with you to achieve your corporate goals. Our responsive team will ensure you have the attention that you deserve!

 

» Click Here to read "What Owners Should Know:  Compliance Issues" by David Ho, Senior Asset Manager, Ocwen Affordable Housing