HousingWire reveals the 50 fastest-growing companies in housing economy

HousingWire reveals the 50 fastest-growing companies in housing economy

Inaugural 2014 HW Fast50 ranks public, private companies on revenue growth

Chinese investors remain an X Factor for the US housing market

So what does this mean for homeowners and buyers?

Judge throws out Fannie and Freddie investors’ lawsuit

Decision favors Federal government
W S

Citigroup North American REO Up 81% from Last Year

/ Print / Reprints /
| Share More
/ Text Size+
The amount of REO properties held by Citigroup reached $1.4bn in Q210, an 81% increase from the same time last year. In the second quarter of 2009, Citigroup held $789m in REO in North America. The latest total is a 10% increase from the $1.2bn in North American REO totaled in Q110. The bank did not break down the total among the continent’s countries. Citigroup defines its REO as the carrying value of all property acquired by the bank through foreclosure or other legal proceedings. Worldwide, Citigroup holds $1.6bn in REO, up 73% from a year ago. Citigroup reported earnings of $2.7bn in Q210 after posting $4.4bn in the previous quarter. Through its servicing arm, CitiMortgage, the bank continues work to reduce the amount of foreclosures on its balance sheet. According to the latest Home Affordable Modification Program (HAMP) report from the Treasury Department, Citi has converted 25% of its trial modifications into permanent status through May, totaling more than 34,000 modifications. Write to Jon Prior.

Recent Articles by Jon Prior

Comments powered by Disqus