GREAT NECK, N.Y. – March 9, 2020 – Regions Affordable Housing on Monday announced Victor Sostar and David Payne will lead an expanded nationwide effort in serving the affordable housing marketplace.
Each will serve as Co-Head of Origination for Regions while focusing on key geographic areas. Payne’s team will be dedicated to securing financing opportunities for affordable housing developments across the Southeast and Texas while Sostar and his team will focus on the Northeast and Midwest, along with strategic opportunities in western states.
Sostar brings over 39 years of experience in real estate and finance to the role, most recently serving as Regions Affordable Housing’s head of Underwriting. Based on Long Island, Sostar sits on the boards of the New York Association of Afforadable Housing (NYSAFAH) and National Housing & Rehabilitation Association (NH&RA).
Payne brings 18 years of expertise to the role, focusing on real estate, finance and relationship management. In previous roles, he served Regions in underwriting and relationship management functions. Based in Dallas, Texas, and working in close coordination with Affordable Housing professionals throughout the Regions footprint, Payne serves as President of the Lousiana Association of Affordable Housing Providers (LAAHP) and Vice President of the Mississippi Association of Affordable Housing Providers (MAAHP).
Victor and David are visionaries who recognize the incredible need for more affordable housing across the U.S.
Rob Chiles, Group Manager of Regions Affordable Housing
“Victor and David are visionaries who recognize the incredible need for more affordable housing across the U.S. while having the business expertise and financial insights that are necessary to help developments move from concept to completion,” said Rob Chiles, Group Manager of Regions Affordable Housing. “They are the ideal leaders to build on our momentum. They have the financial expertise needed to get results, and they never lose sight of how the financial aspects of affordable housing make it possible for more people to have safe, modern and secure places to live. That’s why we’re here. And they’ll take us to the next level.”
Regions Affordable Housing LLC is a national low-income housing tax credit (“LIHTC”) investor, syndication firm and leader in affordable housing. Regions Bank is one of the nation’s largest participants in affordable housing finance through the LIHTC program, providing comprehensive real estate banking and capital market services to meet the debt and equity capital needs of developers and investors. Regions Bank is also a Fannie Mae DUS Multifamily Affordable Lender and HUD/FHA Affordable Lender.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $126 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,400 banking offices and 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.