GLENDALE, Calif. — October 11, 2022 — The board of directors for California Community Reinvestment Corporation is thrilled to share that Tia Boatman Patterson will join CCRC as its next President and CEO on Dec. 1, 2022. “On behalf of the esteemed CCRC board, we are excited to welcome Tia as the new President and CEO of CCRC. We are at a pivotal point in the affordable housing industry and CCRC has built a solid foundation for being a leader in the permanent financing space. Why not take this success and build upon it by innovating and evaluating products and services that could be most useful to further the good work carried out by our affordable housing development community?” said Lisa Gutierrez, board chair for CCRC.
Patterson joins CCRC with years of executive leadership experience in both the public and private sectors. After obtaining her law degree, Patterson was agency counsel for Sacramento Housing & Redevelopment Agency. After additional experiences, she returned to SH&RA as its general counsel. In 2014, Patterson accepted a gubernatorial appointment to serve as the executive director of California Housing Finance Agency, where she brought about positive organizational changes and significantly grew loan production and impact. In 2021, Patterson accepted a presidential appointment with the Office of Management and Budget as its associate director of housing treasury and commerce. She is thrilled to return to California and serve as CCRC’s next president and CEO.
“CCRC is an outstanding lending partner in the affordable housing community in California, and I am inspired and motivated by CCRC’s mission to improve the lives of California low-income residents. I am looking forward to working with the CCRC board and its dedicated staff,” Patterson said.
The board of directors would like to express their appreciation for the many years of service provided by outgoing president and CEO, Mary Kaiser. Since 1995, under Kaiser’s leadership, the organization has built a diversified business model, originating in excess of $2 billion in affordable housing permanent mortgage lending opportunities for its investors, while providing much needed affordable housing to families, seniors and residents with special needs, as well as permanent supportive housing to formerly homeless residents. This evolving business model has built a solid balance sheet as evidenced by a $74 million fund balance, while attracting in excess of $1 billion in capital for loan originations and servicing a funded portfolio of $900 million for banks, insurance companies, pension funds and Freddie Mac institutional investors through securitizations.
“Serving as CCRC’s President and CEO for the past 27 years has truly been my honor,” Kaiser said. “With an amazing staff and investor support, CCRC has changed the lives of thousands of families and seniors, as well as residents with special needs, by participating in the financing of affordable properties throughout California. I know this dedicated team under Tia’s leadership will continue to grow and do even greater things for those who deserve a place to call home, live and prosper. I am grateful for the opportunity to have been a part of this mission over these years.”
Founded in 1989 with support from the Federal Reserve Bank of San Francisco and major banks throughout California, California Community Reinvestment Corporation is the state’s premier multifamily affordable housing lender. Responding to California’s statewide affordable housing crisis is its business, specializing in programs for families, seniors, citizens with special needs and mixed-use developments.