Citi selling MSRs for 64K Fannie Mae residential loans

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.

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Comments (1)
  • freddiebell
    , contributor
    Comments (3) | Send Message
    So? At what price were they sold? Is this good or bad for Citi?
    17 Jan 2014, 01:35 AM Reply Like
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