Homeownership Preservation Foundation Announces Sanjeev Handa Elected Chairman of Board of Directors

WASHINGTON, D.C. – November 27, 2012 – (RealEstateRama) — The Homeownership Preservation Foundation (HPF), an independent national nonprofit dedicated to helping distressed homeowners navigate financial challenges and avoid mortgage foreclosure through its Homeowner’s HOPE™ Hotline at 888-995-HOPE™, today announced that Sanjeev Handa was elected as Chairman of the Board of Directors, effective November 14, 2012.

Mr. Handa, who is Managing Director and Head of the Global Real Estate Fixed Income team at TIAA-CREF, joined the HPF organization in 2011 as part of a Board expansion effort that further diversified the professional backgrounds and corporate governance expertise of its members; he sits on the Board’s Finance Committee.  He succeeds Bruce Paradis, founder of HPF, as Chairman.  Mr. Paradis will remain an active Board Member.

“Sanjeev’s unanimous election as Chairperson is no doubt a reflection of the depth of his vision for the organization, sharp financial acumen, and expertise on the nuances of the distressed housing market,” said Colleen Hernandez, president and CEO of the Homeownership Preservation Foundation.  “He will be an astute, effective leader for our Board, and I warmly congratulate him on his appointment.”

At TIAA-CREF, Mr. Handa oversees the real estate fixed income portfolio, which includes commercial mortgages, commercial mortgage-backed securities (CMBS), and real estate debt funds.  TIAA-CREF, a financial services organization with $495 billion in combined assets under management as of September 30, 2012, is a leading provider of retirement services in the academic, research, medical, and cultural fields. TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products.

Mr. Handa joined TIAA-CREF in 1988 and has held several positions during his tenure with the organization.  Prior to assuming his current role as Managing Director, Real Estate Fixed Income earlier this year, he was head of global public fixed income, where he was responsible for the public fixed income assets of TIAA-CREF.  Earlier, from 1998-2006, he was head of TIAA-CREF’s asset backed securities unit and, prior to that position, held additional responsibilities including oversight of TIAA-CREF’s securities lending programs.  Mr. Handa began his career as a corporate bond and emerging market analyst.  He also served in 2008 as Chairman of the Board of Directors for the American Securitization Forum.

He earned his MBA from the University of Michigan and his undergraduate degrees from New York University and The Cooper Union for the Advancement of Science and Art.

There are 11 members on HPF’s Board of Directors.  Information about individual Board members, including their diverse professional backgrounds, can be accessed through HPF’s website at www.995hope.org.

About the Homeownership Preservation Foundation

The Homeownership Preservation Foundation (HPF) is an independent national nonprofit dedicated to helping distressed homeowners navigate financial challenges and avoid mortgage foreclosure.  HPF guides consumers onto the path of sustainable homeownership and develops innovative solutions to preserve and expand homeownership.  Through its Homeowner’s HOPE™ Hotline, 888-995-HOPE™, HPF provides comprehensive financial education and confidential foreclosure prevention counseling for FREE, 24 hours a day, 7 days a week, 365 days a year, in over 170 languages.  Since 2007, HPF has served more than six million distressed homeowners, an average of 5,500 each weekday, who depend upon HPF as a trusted, neutral source of information and assistance.  For more information about the Homeownership Preservation Foundation or the Homeowner’s HOPE™ Hotline, please visit www.995hope.org.