CitiMortgage Absorbs Its Sibling’s Subprime Business
July 28, 2006
Citigroup has decided to combine its two first mortgage businesses, replicating what other lenders have done in order to better weather the cooling mortgage market. Late last month, the firm received regulator OKs to dissolve its subprime company CitiFinancial Mortgage and consolidate all its operations within its prime lender CitiMortgage...