Forum

 

SPRING 2009

Alumni Highlight

 

Warren Horvath
Warren Horvath
(Photo by Bendix Anderson)

Warren Horvath, BA 1999

The publication, Affordable Housing Finance, included Warren Horvath among its 15 “Young Leaders” for 2008, noting how he “resisted the lure of better pay to keep bringing investment dollars to affordable housing—and steered clear of the chaos now gripping Wall Street.” Horvath attended the Bloustein School’s undergraduate program, graduating from Rutgers in 1999 with a degree in urban planning and development.

 

In a November 2008 profile of Horvath, the magazine reported how Horvath used his investment talents while at New York City-based Community Development Trust (CDT) to help build a portfolio of more than $650 million in affordable housing assets. At CDT, Horvath became chief investment officer, turning down offers that could have doubled his pay.

 

Late last year, Horvath spent a week in Atlanta, consulting with Habitat for Humanity on its capital markets program, in particular an Accelerated Asset Recovery program that had been created by CDT founder Judd Levy. Now maintained by Horvath and Habitat, the program enables Habitat’s affiliates to raise capital for zero percent downpayment home loans that they can offer to low-income families.

 

Habitat has been able to pool loans to its affiliates to fund about 1,100 home loans since the program’s inception. Backed by the loan pools, Habitat issues unrated private placement bonds which it credit-enhances to cover losses up to 5 percent of the pool. Habitat then sells the A-piece bonds to investors, such as Prudential Financial, Inc., and Citibank, which use them to meet their requirements under the federal Community Reinvestment Act (CRA).

 

 

Alumni News

Bloustein School graduate Philip A. Abramson, who earned his MCRP degree in 2006, has been awarded a Daniel J. Curtin Fellowship from the American Planning Association to help him pursue his law degree at Rutgers-Newark. Only two Curtin fellowships are awarded annually; Abramson is the first New Jerseyan and Rutgers student to win the national award. The Curtin Fellowships are intended "to foster increased interest in the study of land use planning and its interrelationship with the law at the advanced undergraduate, graduate, and law school levels." Abramson, an associate planner with Pennoni Associates, Inc., of Cedar Knolls, NJ, is a second year law student at Rutgers-Newark.