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SONYMA

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AcronymDefinition
SONYMAState of New York Mortgage Agency


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25) Citigroup reported that Citibank NA and CitiMortgage made loans in the New York assessment area totaling more than $100 million through these affordable mortgage products and programs in 1999 and 2000,(26) including more than $62 million in affordable mortgage loans in the New York assessment area under programs of FNMA, the Federal Home Loan Mortgage Corporation, SONYMA, the Neighborhood Housing Services, and the New York City Housing Partnership.
The bank also agreed to continue a fair housing/fair lending training program for its loan officers and underwriters and to consider implementing a special loan program to supplement its FHA, SONYMA (State of New York Mortgage Act) and Community Home Buyers Program to help accommodate borrowers who may not ordinarily qualify.
16, 2005, SONYMA has entered into a Credit Support Agreement with CCDC and set aside $34 million of mortgage recording tax surcharge receipts as reserves in the MIF's DCCS account.
 
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