twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.


Citi Production Down Over a Third

$14.1 billion Q1 production

April 18, 2011

By MortgageDaily.com staff


Home-loan production at Citigroup Inc. was down 35 percent from the fourth quarter, though the company managed a year-over-year gain. Delinquency improved and repurchase costs fell.

Loan originations were $14.1 billion in the first quarter, diving from $21.8 billion three months earlier, earnings data released Monday indicated. Fundings were higher, however, than $10.3 billion a year earlier.

The third-party mortgage servicing portfolio at the regional consumer banking operation finished last month at $196.0 billion, climbing from $191.9 billion in the prior period. The portfolio amounted to $191.2 billion on March 31, 2010.

Citi's consumer unit owned $25.8 billion in real estate loans, more than the $23.5 billion owned in the fourth quarter and the $24.4 billion owned in the same quarter during 2010.

Delinquency of at least 30 days on non-agency loans closed out the quarter at 1.33 percent, dropping from 1.47 percent but higher than 1.20 percent in the first quarter of last year.

At Citi Holdings, the third-party servicing portfolio fell to $244.4 billion from $259.9 billion and was well below the $341.4 billion of a year prior. Citi Holding's residential assets finished March at $119.9 billion, also lower than the fourth quarter, when the total was $125.6 billion, and lower than $147.7 billion a year earlier.

Citi Holding's residential delinquency rate tumbled to 9.05 percent form the prior quarter's 10.59 percent and the prior year's 12.70 percent.

The New York-based company cut its repurchase reserve balance to $944 million from $969 million in the fourth quarter. Repurchase losses realized fell to $151 million from $235 million.

Commercial real estate loans on the balance sheet fell to $2.0 billion from the fourth quarter's $3.4 billion and from $10.3 billion at the end of March 2010.

CRE delinquency fell to 4.30 percent from 4.65 percent but was a little worse than 4.29 percent at the same point in 2010.

Net income from continuing operations before taxes was $4.2 billion, higher than $1.1 billion three months earlier and lower than $5.3 billion a year earlier.

The direct staff at Citigroup was unchanged from the fourth quarter at 260,000. The level of staffing was 263,000 at the same point last year.

Citi operated 1,000 retail branches, one less than the prior quarter and three fewer than a year earlier.

Citigroup profile

next story

back to current headlines

Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.


Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.


Commercial Mortgage News | CRE Lender Directory | CRE Statistics
Stories about commercial lending on multifamily, office, retail and industrial properties.


Logout forgot
password?

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders