Opportunity Finance Network (OFN), the leading network of community development financial institutions (CDFIs) that work in urban, rural, and Native markets to deliver sound financial returns and real changes for people and communities, announced today that Gregory Schiefelbein has joined its executive team as its new executive vice president of development. In this position, Schiefelbein supports OFN's program development, capitalization growth, and development strategies.

Schiefelbein incorporates a dynamic combination of on-the-ground and broad industry experience with over 16 years tenure in housing and community development. Previously a leading member of Freddie Mac's Corporate Relations and Housing Outreach team, he led affordable and strategic markets relationships with financial institutions and supported national efforts to increase and preserve homeownership.

"Greg Schiefelbein is a key addition to OFN's executive management team," said Mark Pinsky, president and CEO of OFN. "His extensive background in community and economic development is exactly the right mix of knowledge and experience for Greg to hit the ground running as OFN identifies strategies for CDFIs to meet the increased demand for financing opportunity markets today and to prepare for an expanded role in the financial system going forward."

Schiefelbein developed a practitioner's perspective as director of Neighborhood Housing Services of New York City's Citywide Homeownership Center and director of Special Initiatives for Asian Americans for Equality, as well as executive director of Joseph Corporation, a NeighborWorks Affiliate in his hometown of Aurora, Ill. He combines hands on expertise with an informed national perspective, honed during his time conducting community and economic development research and policy work in Washington, DC.

Schiefelbein stated: "I am extremely excited to be a part of OFN, especially at a time of such transformation and possibility for the opportunity finance industry."

A high resolution, headshot photograph of Gregory Schiefelbein is available at http://www.opportunityfinance.net/press/photos.aspx.

About Opportunity Finance Network
Opportunity Finance Network (OFN), the leading national network of more than 160 private financial institutions, creates growth that is good for communities, investors, individuals, and the economy. Members of OFN are community development financial institutions (CDFIs) who deliver responsible lending to help low-wealth and low-income communities join the economic mainstream. To date, the opportunity finance industry has financed more than $25 billion in underserved markets in all 50 states, yielding more than 200,000 jobs, 500,000 housing units, and 5,000 community facility projects. More information is available at: www.opportunityfinance.net.

Opportunity Finance Network

Opportunity Finance Network

Opportunity Finance Network is the leading network of private financial intermediaries that delivers both sound returns and real opportunities for low-wealth people and communities in the U.S. Opportunity Finance Network Members originated more than $12.5 billion in financing in non-conforming urban, rural, and native communities through 2006. This generated or maintained 175,710 jobs; 39,583 businesses; 533,394 housing units; and 5,858 community facility projects. More information is available at www.opportunityfinance.net.

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