CMS Bank Completes More Than $1 Million in Affordable Housing Loans in Westchester

Local Community Bank Working with Housing Action Council to Help County Meet Affordable Housing Goals

WHITE PLAINS, NY – CMS Bank has announced that it recently completed more than $1 million in mortgage loans to local families for affordable housing in Westchester.

Several of the loans are for residences at the recently completed Comstock Heights Condominium on North State Road, Briarcliff Manor, while others have been made at Cottage Landings condominium in Rye.

CMS Bank is working closely with the Housing Action Council, a Tarrytown-based not-for-profit dedicated to expanding housing opportunities for moderate income households throughout the Hudson Valley. In closing on these residential mortgages, CMS Bank is reinforcing its goal of providing financing to families seeking such opportunities in Westchester.

By working together, CMS Bank and the Housing Action Council are also helping Westchester County meet its obligations under an affordable housing settlement with the federal government.

“As a local community bank, CMS’s goal is to help families achieve the American dream of home ownership,” said John Ritacco, President and CEO of CMS Bank. “Providing mortgages to low-and-moderate income borrowers is in keeping with the Bank’s mission to serve our local community. These loans are yet another way we are providing important and personal services to the community.”

Headquartered in White Plains, CMS Bank provides a wide range of banking products and services to the retail consumer and small business customers including residential and commercial real estate loans and small business loans primarily in Westchester, Rockland, Dutchess and Putnam counties as well as Fairfield County, Conn. CMS Bank has branches in Eastchester, West Harrison, Greenburgh, Mount Vernon and Mount Kisco. CMS’ lending decisions are made locally by employees who live and work in the community. For more information, visit www.cmsbk.com