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Author name: Ricky Vasquez

Jane Fraser WiB 2023

Citi commits $60 billion to affordable housing initiative

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Citi is pledging more than $60 billion to a new initiative focused on improving housing affordability. Processing Content The bank announced Tuesday its Blueprint for Housing Opportunity plan, a five-year commitment dedicated to increasing the housing supply through the creation and preservation of at least 250,000 units across the country. The Citi Foundation also devoted […]

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FHFA VantageScore savings sized up, FICO expands in mortgage

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Plans to expand competitive use of VantageScore in the mortgage market could save the industry hundreds of millions of dollars, potentially offsetting concerns about rising credit score costs. Processing Content VantageScore estimates that full adoption of its 4.0 version under a “competitive use” scenario could cut more than $600 million in the first 12 months,

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Mortgage rates reach lowest since 2022, boosting refinancing

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US mortgage rates slipped last week to the lowest level since 2022, generating more refinancing activity. Processing Content The contract rate on a 30-year mortgage dropped 8 basis points to 6.09% in the week ended Feb. 20, according to Mortgage Bankers Association data released Wednesday. The rate on five-year adjustable mortgages fell to 5.23%, also

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