Home loan activity fell at Citigroup Inc., though so did losses.
Residential originations during the fourth quarter were $11.20 billion, the company reported to MortgageDaily.com. The level of fundings placed Citi in the No. 5 spot for the quarter.
Volume tumbled from $14.26 billion reported for the third quarter. Business was down by a third from $16.6 billion in the fourth-quarter 2008.
During all of last year, the New York-based company reported an adjusted $81.24 billion in originations, down from $104.3 billion closed in 2008. The 2009 activity made Citi the fourth biggest residential lender last year.
Citi’s residential servicing portfolio, including third-party servicing and loans owned, finished last year at $718.93 billion, higher than $646.6 billion on Dec. 31, 2008.
In its earnings report, Citigroup said it had a $15.1 billion fourth-quarter loss before taxes, souring from an $0.5 billion loss three months earlier. But earnings were better than the $31.7 billion loss in the fourth-quarter 2008.
Full-year losses before taxes were $7.8 billion, better than the $52.4 billion loss during 2008.
