Meghmik (Meg) Babakhanian joined CCRC as an underwriting analyst in 2018. She began her career in the affordable housing industry at Wells Fargo as an analyst supporting the Tax Credit Investment Group, where she underwrote Direct Equity LIHTC investments and also received training in banking. Her passion for infrastructure development and finance began as an intern at KNN Public Finance and developed further during her graduate studies and subsequent work experience at various public agencies. At CCRC, Meg assists with the underwriting and structuring of permanent financing for affordable housing developments throughout California. Meg holds a B.A. in Economics from the University of California, Berkeley, and a Masters in Urban and Regional Planning from the University of California, Los Angeles.
Andy joined CCRC in 2017 and is currently a Funding Manager. He began his real estate career in 2000 working on Commercial Real Estate Appraisals. In 2003, Andy began his career in the affordable housing industry at AIMCO Capital and later at Capmark Capital where he asset managed a portfolio of low income section 42 tax credit properties in the West and Midwest. In 2010, Andy moved to the lending side when he joined Pacific Life to manage the relationship with third party clients in their affordable housing portfolio. He worked with originators and developers on permanent loan conversions totaling over $400 million and completed two loan securitizations totaling over $285 million. At CCRC, Andy assists with the underwriting and structuring of permanent financing for affordable housing developments throughout California. Andy received a Bachelor’s degree in Political Science from the University of California, Los Angeles.
To contact Andy, please call 818 550-9800.
Aaron Smith joined CCRC in 2018 as a Relationship Manager. He began his career in the affordable housing industry at Wells Fargo, where he received training in commercial and corporate banking, and worked with developers to provide construction and permanent financing for Low-Income Housing Tax Credit developments across the Midwest and California. At CCRC, he continues to pursue his passion for affordable housing and his primary responsibilities include underwriting and structuring permanent financing to meet the financing needs of affordable housing developers. He received his MBA in Finance from the University of Rochester and his BA in Religious Studies from California State University, Northridge.
To contact Aaron, Please call (818) 550-9800
Laura Orellana joined CCRC in 2008 and is responsible for relationship management and underwriting permanent mortgages for multifamily affordable housing developments throughout California. Laura is part of CCRC’s FHA Multifamily Accelerated Processing (MAP) lending team and she underwrites refinancing transactions for the FHA Section 223(f) multifamily mortgage insurance program.Laura collaborated with Cabrillo Economic Development Corporation as a special projects consultant, assisting in the development of community gardens and working on an update to the Housing at the Millennium: Documenting New Housing Production in Ventura County 1990-2000 report. Her research, which she presented at two workshops organized by Ventura County Housing Opportunities Made Easier, documents housing production by income category in comparison to Regional Housing Needs Assessment (RHNA) goals for 10 Ventura County cities and unincorporated Ventura County and also highlights best practices in each jurisdiction.Laura earned a M.A. degree in Urban Planning at the University of California, Los Angeles in 2009 and a B.A. degree in Urban Studies and Planning at the University of California, San Diego in 2007.
To contact Laura, please call (818) 550-9800
Renee joined the loan administration staff at CCRC in 2004 to assist with the growing portfolio, and is responsible for closing and loan documentation. She began working in affordable housing in 1994 with Wells Fargo Bank in San Francisco, where she became Vice President, Loan Administration Manager of the Los Angeles and San Francisco Community Lending offices. She also was Vice President, Loan Administration Manager at United Commercial Bank in the Construction Lending Division before joining CCRC.Her 30 year career in real estate began at California Land Title Company in the personnel department, where she later moved to the title floor and began doing Department of Real Estate processing and later moved on to be a real estate litigation and corporate legal assistant.
Born and raised in sunny Los Angeles, but always up for an adventure, Renee picked chilly Kalamazoo, MI for college where she received her Bachelor of Science degree in Psychology/Sociology from Western Michigan University.
To contact Renee, please call (818) 550-9800
Maria Majczinger joined CCRC in 1994 as a Senior Loan Processor, coordinating CCRC’s loan packaging, monitoring and tracking. In 1996, she became a Loan Administrator, responsible for CCRC’s loan closings and documentation and has closed over $235 million of affordable housing loans, fifty percent of which have closed in the past three years. In 1998 her responsibilities expanded to managing the Loan Administration Department, which coordinates all aspects of CCRC’s loan processing, loan documentation, closing, servicing, review and information/financial tracking and loan sales. Maria oversees the six staff members who support CCRC’s Loan Administration Department. Maria began her career in loan servicing in 1972 at Lincoln Savings. Since then, she gained expertise and experience in loan administration, documentation and staff management at Columbia Banking Federal Savings & Loan (upstate New York) and Coast Savings & Loan. Prior to joining CCRC, Maria was employed by Manufacturers Bank. Her duties included packaging and processing construction and permanent commercial real estate loans and acting as a liaison to Credit Administration as well as functioning as the Office Manager for a staff of twenty.
To contact Maria, please call 818 550-9800.
Mark Niles joined CCRC in 1999, and is responsible for relationship management and loan underwriting across CCRC’s line of financing products. His experience includes construction loan servicing where he marketed CCRC’s Acquisition-Rehabilitation lending program, providing construction-to-permanent financing targeted to small apartment projects located in low-tomoderate income locales. Mark also oversaw the rehabilitation of CCRC’s two preservation projects.Previous experience includes 8 years with Washington Mutual Bank as an REO asset manager, valuing, selling and/or lending on $400MM+ of commercial real estate, including hotels, commercial & retail properties, multi-family projects and land. He was responsible for the oversight of fee based property managers and managed the staff responsible for closing REO sale and loan transactions.Mark graduated with a bachelors degree in Business/Accounting from Biola University. He was involved in the formation of, and has served as a board member and treasurer of the Community Association Rescue Effort, a non-profit organization that was formed to provide financial relief to condominium homeowner associations. Through CARE’s efforts, state legislation was passed that limited the financial exposure of individual condominium owners when a homeowner association was subject to a legal award or judgment.When not executing his duties at CCRC, Mark is an avid rock climber and photographer, and has produced two rock climbing films and a documentary.
To contact Mark, please call (818) 550-9800
Mary joined California Community Reinvestment Corporation in 1995 as President and CEO after having spent 20 years in the commercial banking business. Since 1995, CRC has improved its fund balance by $32 million and evolved the product lines to meet the increasing needs of membership as well as the low-income communities served and raised capital to meet those needs, originating in excess of $2 billion in new affordable housing loans. CCRC operates with $800 million in capital provided by banks, insurance companies and pension plans. Active loan sales in the secondary market are approaching $1 billion.
Mary currently serves on the CHC Board of Directors, The UCLA Lewis Center for Policy Studies Advisory Board and the Path Ventures Board of Directors. She has served as the Chair of the Federal Reserve Bank of San Francisco’s Economic Advisory Council, Secretary of the Board of Trustees of Community Reinvestment Fund, Low Income Investment Fund Board of Directors and Loan Committee, CLU Center for Economic Research and Forecasting, Ventura County Community Foundation Farmworker Housing Committee and Social Justice Fund Giving Circle and Pepperdine’s Seaver College Board of Trustees and Career Coach.
She received a bachelor’s degree in Psychology from San Diego State and an MBA from California Lutheran University. She also completed the Achieving Excellence Program at the Kennedy School of Government at Harvard in 2015.
To contact Mary, please call 818 550-9800.
David Saltzman has over 27 years’ experience in affordable housing finance, development and program administration. At CCRC, David oversees credit and risk management functions across all areas to ensure the overall quality of CCRC’s loan portfolio. He also administers our Asset Management and Loan Servicing divisions and directs loan sale and securitization activities. He is the author CCRC’s annual Loan Portfolio Analysis, a risk assessment of CCRC’s loan portfolio provided to our investors. He previously served as Deputy Commissioner at the Chicago Department of Housing where he administered the city’s affordable housing development finance programs. In 2003, David moved to Los Angeles to serve as Vice President of Originations for nationally-recognized Low Income Housing Tax Credit syndicator. Prior to joining CCRC in 2016, Mr. Saltzman was a Principal at a California-based consulting firm, providing financial and policy advisory services to federal, state and local government agencies, and to for-profit and nonprofit clients nationwide. David received a Bachelor’s of Arts in Public Policy from Duke University, and a Masters of Management in Economic Development and Finance from the J.L. Kellogg Graduate School of Management, Northwestern University.
Mark Rasmussen is the point person for developers and financing partners in the evaluation of new opportunities for financing affordable housing throughout California. Mark has led the loan origination team since 1998, he and the CCRC team are responsible for the origination of over $1.5 billion in affordable housing permanent mortgages and tax exempt bonds involving nearly 35,000 housing units throughout California. Mark has 35 years’ experience in commercial real estate and finance, with extensive experience and diverse skills in leadership, problem solving and negotiating. Mark obtained a Master’s of Science degree in Real Estate Appraisal and Investment Analysis from the University of Wisconsin-Madison along with a bachelor’s degree in Business Administration, Real Estate, Urban Land Economics, and Marketing.
To contact Mark, please call 818 550-9800.