New Residential Investment Corp. agreed to pay Citigroup $ 950 million to buy servicing rights on Fannie Mae- and Freddie Mac-backed loans with $ 97 billion of outstanding balances, the New York-based buyer said Monday in a statement. Citigroup also reached a deal with Cenlar FSB to service its remaining mortgages, and plans to transfer the rights for those loans beginning in 2018, the bank said in a separate statement.

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