Citigroup is expanding its correspondent lending business, as the bank appears to be re-embracing home lending as the US economy’s recovery inches forward. It was reported on Friday that Citigroup was reversing its original plans to scale back the home lending business, by increasing its purchase of home mortgages and by keeping more loans on its balance sheet. Citigroup, in an e-mailed statement late Friday, said the move is not a shift in strategy. The company is “committed to growing our mortgage business with a focus on quality and long-term sustainability,” a spokeswoman said. Citigroup has “reengineered quality controls to be best in class and are looking to grow the correspondent channel, in a controlled, deliberate manner, with high-quality lenders who provide superior quality loans,” the statement said. “This expansion is an important step to ensuring the foundation for future success is in place.”

Most Popular Articles

Here's where the real housing affordability crisis exists

Some housing pundits report the demand for housing is strong, while these same pundits, on another day say that we are in a housing affordability crisis. Can the two narratives be accurate at the same time? If not, which is one is true? HousingWire Columnist Logan Mohtashami takes a deeper dive.

Feb 17, 2020 By

Latest Articles

Cost of renting continues to steadily rise

While rent prices are going up, the latest 3% year-over-year increase marks the slowest pace in 18 months, according to a new report from RentCafe.

Feb 19, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please