CCRC Becomes the First CDFI in the Nation to Securitize Tax-Exempt Loans in the Public Municipal Market With New and Expanded Commitments to Affordable Housing Lending Across California

GLENDALE, CA - August 18, 2026 (NEWMEDIAWIRE) - California Community Reinvestment Corporation (CCRC) announced a series of financing milestones that significantly strengthen its capital available for affordable housing lending throughout California with the successful closing of a $114 million securitization of tax-exempt loans, alongside $10.1 million in additional capital from existing bank partners. The securitization marks the first time a Community Development Financial Institution (CDFI), rather than a bank or government entity, has completed a securitization of this kind. Structured in two tranches, the deal drew strong demand from investors in the public municipal market. Wells Fargo served as underwriter, and U.S. Bank acted as trustee and custodian.

Unlike most lenders, which sell or deliver loans to Fannie Mae or Freddie Mac at closing, CCRC retained these loans on its balance sheet before bringing them to the municipal market for securitization, a structure that has been used by only a handful of financial institutions since it first emerged in 2019. Executing a transaction of this kind requires both the operational capacity and the credit rating to do so, capabilities that are rare among CDFIs nationally.

Alongside the securitization, several of CCRC's existing bank partners are leaning in with new and expanded commitments, bringing $10.1 million in additional capital to support investment in affordable housing. Beneficial State Bank increased its loan pool contribution from $12.5 million to $15 million, an increase of $2.5 million, and separately made a new $2.5 million commitment to CCRC's Tax-Exempt Loan (TEL) pool. State Bank of India (California) increased its loan pool contribution from $1.9 million to $3 million, an increase of $1.1 million. Bank of America returned to CCRC's loan pool with a new $2 million commitment. Wells Fargo provided a $2 million patient capital loan, designed to support shorter-term bridge lending that helps preserve affordable housing.

"Our bank partners are leaning in to show their continued commitment to CCRC with new investment dollars," said Tia Boatman Patterson, President and CEO of California Community Reinvestment Corporation. "The securitization reflects years of work to build the infrastructure and track record needed to access the public markets. The increased commitments from our bank partners demonstrate the trust we've built with our investors and their continued commitment to financing affordable housing. Having the ability to recycle capital, lower our cost of funds, and continue expanding affordable housing finance opportunities is critical for our development sponsors and the California communities they serve."

The combined effect of these transactions strengthens CCRC's ability to continue funding permanent loans for affordable multifamily housing developments across the state, supporting working families, seniors, veterans and individuals experiencing or at risk of homelessness.

About California Community Reinvestment Corporation:

California Community Reinvestment Corporation (CCRC) is California’s premier Community Development Financial Institution (CDFI) multifamily affordable housing lender, tackling the affordable housing crisis throughout the state. CCRC’s lending products provide term financing for affordable multifamily rental housing, supporting the creation of low-cost housing for vulnerable individuals and families. For more information, visit https://www.e-ccrc.org/

Press Contact:
Michelle Thompson
michelle@vewmedia.com
VEW Media