National Cooperative Bank has issued a new kind of mortgage security in an effort to attract capital to the low-income housing market.

The issue, backed by multifamily mortgages, is the first involving low-income projects to be sponsored privately in a market dominated by the government-sponsored housing agencies, said Grace Huebscher, president of the bank's National Cooperative Bank Mortgage Corp.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.