An Insider’s Look Into How Secondary Marketing Evaluates LOs

In this webinar we’ll explore the long-term financial impacts of renegotiations, extensions and fallouts, plus basic guidelines to be viewed as a professional by your secondary marketing department

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How Freddie Mac is addressing affordable housing challenges

Freddie Mac is focused on addressing limited access to credit, housing inequalities, creation and preservation of affordable housing supply and advancement of homeownership education.

A NAR board member tells (almost) all

For this week’s Houses in Motion, a miniseries that is part of HousingWire Daily, we spoke with Lisa Dunn about the pressing issues in real estate, including disclosure of agent commission.

Mortgage

Citi keeps moving away from the mortgage business

Credit cards are where it's at

Citicorp net income increased to $3.5 billion, from $2.8 billion in the prior year period, primarily driven by the higher revenues as well as lower operating expenses and lower cost of credit.

Credit cards are where it is at for Citi, as the big bank continues its drive away from the mortgage business.

Citi-branded cards revenues of $2.2 billion increased 15%, as well as modest organic growth driven by higher volumes, according to its fourth quarter earning report.

The bank continues to expand access to cash for it's card customers.

Citibank customers can now access ATMs surcharge-free at virtually all Costco, CVS/pharmacy, and Target retail locations, according to another statement from yesterday. Additionally, surcharge-free ATM access is rolling out to Duane Reade stores and most Walgreens locations.

However, Citi retail banking revenues declined 4% to $1.3 billion, mostly reflecting lower mortgage revenues.

The report this morning shows a continued, gradual escape from the mortgage business.

In the third quarter, mortgage originations increased 2% from last quarter’s $6.4 million to $6.5 million. This is down, however, by 13% from last year’s $7.5 million.

 

 

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