The Boston Globe

June 13, 2003, Friday ,THIRD EDITION

$3B Affordable-Mortgage Plan in Place

By Chris Reidy

Citigroup and the Neighborhood Assistance Corp. of Americaannounced a plan to commit $3 billion over 10 years to providingaffordable mortgages. The mortgages will be available tomoderate- and low-income consumers who graduate fromNACA's financial education program. The mortgages will notrequire down payments, closing costs, or other fees. Citigroup"has set a new standard for a private-sector initiative thatbrings affordable home ownership to working people," said NACAchief executive Bruce Marks.

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