Items Tagged with 'CitiMortgage'

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  • Citibank to pay $25 million for violating the Fair Housing Act

    OCC fines bank $25 million as Citi shells out $24 million in reparation to customers
    Citibank will pay a fine of $25 million for violating the Fair Housing Act, the Office of the Comptroller of the Currency announced Tuesday. According to the OCC, an investigation showed that Citibank did not equally offer certain mortgage discounts to all Citi customers, thereby "adversely" affecting some customers based on their "race, color, national origin, or sex."
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  • Citigroup invests in digital mortgage company Better Mortgage

    Citi becomes latest big name to fund mortgage tech startup
    The investors in digital mortgage company and 2018 HW Tech100 winner Better Mortgage are a veritable who’s who of the finance space. And there's a new big name joining that list. Better announced Thursday that Citigroup is investing in the company, joining Goldman Sachs and American Express among Better's backers.
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  • CitiMortgage takes a beating in Q3

    Mortgage originations fall 29% and its mortgage division succumbs to scandal
    Citigroup released its earnings report this morning, and mortgage originations are down. Way down. The bank reported a 29% decrease in originations year over year and an 8% decrease in originations from the second quarter.
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  • Citi appoints new mortgage leadership team

    Promotes three of its own into new roles
    Earlier this year, Citigroup revealed that it was looking for a new person to run its U.S. mortgage business as the bank signaled it was moving back into mortgages. That move, and others, were seen as an indication that Citi may be moving back into the mortgage business, and now, the bank has identified the team that will lead its mortgage resurgence.
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  • Citi posts job to run its U.S. mortgage operation

    Job responsibilities include “successful completion of mortgage transformation”
    Citigroup has been going through a significant shift in its mortgage business over the last few years, including moving completely away from mortgage servicing and scaling back its lending operation as well. And now, the bank is looking for a new leader of its U.S. mortgage business.
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  • CitiMortgage launches single digital origination platform

    Signs agreements with Digital Risk, Black Knight
    Citibank announced Monday agreements with two digital technology platforms to offer its new single digital platform for its clients. The new digital capabilities will allow CitiMortgage clients to complete the full loan cycle, from research to application, processing, scheduling appraisals, handing title, to closing through one digital platform.
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