Citi selling MSRs for 64K Fannie Mae residential loans

|By:, SA News Editor

Citigroup (C) is selling mortgage servicing rights (MSRs) for 64K Fannie Mae residential first mortgage loans that carry unpaid principal balances of $10.3B between them. (PR)

Citi notes the sale "the majority of the delinquent loans serviced by CitiMortgage for Fannie Mae," and accounts for "nearly 20% of the total loans serviced by CitiMortgage that are 60 days or more past due." The transfer of servicing rights will start in Q1 and continue into Q3.