Pimco mortgage chief Scott Simon scratches his head over Bank of America's (BAC) and Citigroup's...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

Pimco mortgage chief Scott Simon scratches his head over Bank of America's (BAC) and Citigroup's (C) reluctance to fire up their home-lending operations. Citigroup has described the business as "non-core." "How does it get more 'core'," says Simon. "You sell 6 products to the average person who has a mortgage with you. It's a money machine."