Citigroup Inc. increased mortgage production, grew its domestic real estate lending portfolio and improved earnings. Legacy mortgage assets were reduced, as was its servicing portfolio.
Home lending activity at Citi came in at $7.1 billion from July 1 until Sept. 30.
The figure was based on the New York-based financial services firm’s third-quarter earnings report.
Business improved from the second quarter, when $6.2 billion in residential loans were originated.
As has been the case at its competitors, volume at Citi has dropped off substantially from a year earlier, when it closed $14.5 billion in new mortgages.
For all of 2014, mortgage production at Citi amounted to $18.5 billion.
Business is set to hold in the fourth quarter based on rate locks, which rose to $4.4 billion from $4.2 billion in the second quarter.
The third-party mortgage servicing portfolio closed out the quarter at $173.0 billion. Citi serviced less than the $175.9 billion in the previous three-month period and $180.3 billion in the year-earlier period.
Another $56.0 billion in loans were serviced for third parties by Citi Holdings, tumbling from $69.9 billion at the end of the second quarter and $106.4 billion as of the same date last year.
Global consumer banking closed out September with $37.6 billion in North American real estate lending assets, rising from $36.4 billion at the end of June and $33.6 billion a year previous.
Delinquency of at least 30 days, excluding government mortgages, was unchanged from the second quarter at 0.95 percent. As of Sept. 30, 2013, the rate was 1.16 percent.
Within the Citi Holdings business, mortgage assets were cut to $63.4 billion from $66.9 billion as of June 30 and $76.3 billion as of Sept. 30, 2013.
The Sept. 30, 2014, total included $37.5 billion in residential first mortgages and $25.9 billion in home-equity loans.
Delinquency at Citi Holdings plunged to 6.17 percent from 6.87 percent three months earlier and 7.28 percent a year earlier.
Prior to income taxes, income from continuing operations was $5.5 billion. Citi improved upon the $2.1 billion earned three months earlier and $4.3 billion twelve months earlier.
Company-wide headcount at Citi fell by a thousand employees to 243,000. Citi has beefed up its ranks from the same period last year, when direct staffing stood at 252,000.
Within the Citicorp global consumer banking unit, retail banking branch count in North American was lowered to 895 from 912 as of June 30.
At Citi Holdings, branch count was reduced by three to 1,455.
