Who We Are > CPC History

Mortgage Insurance

CPC was a strong advocate of the need for mortgage insurance to enhance the credit worthiness of its loans, which would help to attract new resources into the affordable housing market.

The New York City Residential Mortgage Insurance Corporation (REMIC) was created to attract private investment to poorer neighborhoods. REMIC was critical to CPC's early success. New York State set up a similar mortgage insurance program through the State of New York Mortgage Agency (SONYMA).

CPC is now actively working to set up similar public mortgage insurance programs in New Jersey and Connecticut.