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CitiMortgage Funds $5.4 Billion in Affordable Housing for Texas; Results Aid 55,000 New Homeowners

SAN ANTONIO--CitiMortgage, the residential mortgage lending business of Citigroup, announced today it has provided $5.4 billion in affordable housing to low- and moderate-income, minority and underserved families throughout the state of Texas since April of 2005. This funding is part of Citi's Opportunities Within Neighborhoods(TM) program, which aims to increase homeownership substantially throughout the country under a $200 billion commitment to affordable housing through 2010.

"We've proven the dream of homeownership is a reality for 55,000 Texans in just over three years," said Danny Gardner, national Director of Emerging Markets for CitiMortgage. "A new home builds wealth and stronger neighborhoods and this program brings the 'American Dream' within reach for many families who never thought they could own a home."

As many as 95,000 more Texas families can apply to own a home under the program and Gardner says he expects Citi's $200 billion commitment to be fulfilled well before 2010. Gardner's remarks were made during the City of San Antonio's Annual Housing Summit held this week at the Henry B. Gonzalez Convention Center. Read more at businesswire.com

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