CitiMortgage Restructures as Two Execs Leave
Citigroup (C) reorganized its CitiMortgage unit, and two senior leaders in the organization have left. Brad Brunts, a 13-year-long Citi employee, most recently serving as manager of the unit’s originations department, has left. Jeff Walker, another long-time employee, will vacate his post as head of national sales. As part of the restructuring, Ed Abufaris will lead initiatives within the CitiMortgage correspondent channel and Fred Bolstad assumes management of the consumer channel. Both will report to CitiMortgage CEO Sanjiv Das. This summer, CitiMortgage suspended new registrations in its correspondent loan business to address quality control issues, Das wrote in an internal memo obtained by HousingWire. Das said the changes come as the unit simplifies its reporting structure “to more closely align our business priorities for future opportunities in the marketplace.” Write to Austin Kilgore.