Citigroup to Exit Mortgage Servicing, Sell $97B Portfolio
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 […]