July 11, 2017

TD Bank invests $50M in CT housing

TD Bank says it purchased a $50 million chunk of bonds issued from Connecticut's housing-finance arm to fund some 300 mortgages for low- to moderate-income homebuyers.

TD Bank Market President Michael LaBella said Tuesday the bonds were part of a $175 million bonding facility that the Connecticut Housing Finance Authority arranged in May through another unidentified lender. Total proceeds will fund about 735 loans for eligible first-time homebuyers, a CHFA spokeswoman said.

"Owning a home is a huge accomplishment and it's a goal for many of our customers, but circumstances may make it difficult to get a conventional mortgage,'' LaBella said. "By supporting this program, we are able to help these dreams become a reality."

Based in Cherry Hill, N.J., TD Bank is the U.S. unit of The Toronto-Dominion Bank of Toronto, Canada.

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