PNC Bank Corp. has begun an affordable-housing initiative in inner city Baltimore with the opening of a loan office there.

PNC also said it would work with the Federal Home Loan Mortgage Corp. to target tenants of multifamily housing developments, residents with low and moderate income, large employers, and minorities throughout the area.

"For the inner city, this provides further access to homeownership and preservation of existing multi-unit housing stock," said Michael J. Kozlak, executive vice president of PNC Mortgage, Vernon Hills, Ill.

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