While quarterly mortgage volume slipped, annual fundings increased at Citigroup Inc.
The New York-based lender said fourth quarter originations of $35.3 billion were off $0.5 billion from the previous three-month period and down $0.4 billion from the same quarter in 2005.
Real estate originations of $142.1 billion in all of 2006, however, were $10.2 billion better than in the prior year, according to the company's latest financial data supplement report.
Citigroup reportedly serviced $357.8 billion in third-party mortgages as of Dec. 31, 2006.
The parent of CitiMortgage and CitiFinancial said fourth quarter net income of $5.1 billion was about $4 billion lower than in the third quarter.