Citi Suspends Business with Brokers, Correspondents
September 10, 2001
CitiFinancial has stopped doing business with more than 3,600 mortgage brokers and 300 loan correspondents as part of a clean-up effort resulting from its acquisition of Associates First Capital last year. The suspension came as a result of an overhaul of CitiFinancial’s review process for brokers and correspondents. "These suspensions occurred after a review of licenses, documentation, and other matters and requiring all brokers and correspondents with whom the company does business to accept and