Regions Affordable Housing, a division of Regions Bank, announced Rachel Thomas-Phillips has been appointed to serve as senior vice president and relationship manager in its originations group. Thomas-Phillips is based in Regions’ downtown Austin office and will focus on sourcing and originating affordable housing transactions throughout Texas, Arkansas, Oklahoma, Louisiana and Mississippi.
Thomas-Phillips brings over 20 years of finance and affordable housing experience to the team. Most recently, she spent eight years with CREA, LLC as senior vice president of acquisitions. There, she originated 13 new developer relationships through targeted marketing efforts and evaluated, structured and closed affordable housing investments throughout the U.S. with a focus on Texas and surrounding states.
Her previous roles include serving as director of finance at Samaritan Center for Counseling and Pastoral Care, where she also served as president of the nonprofit’s board of directors post-employment. She was also finance operations manager at Verizon Wireless and was a supervising audit senior at KPMG, LLP, where she specialized in affordable housing, revenue recognition, software capitalization, stock compensation, nonprofit entities/single audit and SEC reporting compliance.
“We are thrilled to have someone with Rachel’s caliber, experience and passion for living Regions’ mission of making life better for the people we serve,” said David Payne, co-head of originations for Regions Affordable Housing. “This makes Rachel a natural fit for this important role. We are pleased to add her energy, insights and commitment to the affordable housing team.”
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 markets 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.