Originations of expanded-credit mortgages declined at a slower pace than total first-lien originations last year. Citi was the top ECM lender in 2023 even though its production was off 8.3% from a year ago. (Includes data table.)
Insurance companies and European investors have shown a growing interest in MBS backed by expanded-credit mortgages. However, there is not enough supply to meet demand.
Home equity investments have seen considerable homeowner interest due to high interest rates, but industry participants said more investor support is needed to meet homeowner demand.
Legislation to increase transparency in the CDFI Fund comes following reported issues with fund staffing and the new CDFI certification application process.
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