Citi Commits $60 Billion to Affordable Housing Initiative
Citigroup announced its Blueprint for Housing Opportunity, a five‑year plan committing more than $60 billion to increase affordable housing supply in the United States. The initiative targets the creation or preservation of at least 250,000 units and includes $50 million in philanthropic grants from the Citi Foundation, beginning with a $1 million award to the Center for Affordable Housing Lending. Citi also pledged continued support through the Citi Impact Fund and policy advocacy, building on its recent financing of $32 billion in affordable multifamily loans and a $2.5 billion housing bond. CEO Jane Fraser highlighted that expanding financing will free household income for broader economic participation.
FHFA VantageScore Savings Sized up, FICO Expands in Mortgage
The Federal Housing Finance Agency (FHFA) plans to adopt VantageScore 4.0 alongside FICO’s 10T score as part of a mandated modernization effort. A Deep Future Analytics study projects that competitive use of VantageScore could cut mortgage credit‑score fees by more than...
State Bill Could End Tax Break for Large Digital Lenders
Washington State’s House Bill 2089 seeks to restore dwindling wildfire‑prevention funding by revoking a tax deduction that currently benefits large digital mortgage lenders. The deduction, originally crafted for community banks, generated $91.6 million in savings in 2024, with 65 % captured by...
Homebuying Power Hits Highest Level in Nearly 4 Years
Homebuying power in the United States reached its highest level in nearly four years, driven by a decline in mortgage rates and modest inventory growth. A median‑income household can now afford a $331,483 home with a 20% down payment, roughly...
Servicers Offer Support as Nonagency Gets More Competitive
Traditional lenders are eyeing the expanding non‑agency mortgage market as originations have roughly tripled in recent years, driven by growing appetite for non‑owner‑occupied and non‑QM loans. Securitization activity surged 78% in 2025, while delinquencies on non‑QM assets have risen above...
Virginia-Based City Lending Shuts Down
Virginia‑based retail lender City Lending announced its shutdown, ending operations after 11 years. The firm reported $446 million in mortgage origination volume for 2024 and employed more than 220 staff across 29 states, Puerto Rico and D.C. CEO Jorge Campodonico cited...
