Citigroup’s New Place to Sell Its Mortgage Loans: Muni Market

Bloomberg, Feb. 12, 2020–Martin Z. Braun
Starting last year, Citigroup, the biggest U.S. affordable housing lender, has underwritten four tax-exempt bond issues for state and local government agencies that used $1.4 billion of the proceeds to buy mortgages the bank made to finance 149 properties with 16,850 units nationwide. The deals gave Citigroup cash to make new home loans.