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Citi plans to exit mortgage servicing by end of 2018

Wednesday, February 1, 2017 - 05:50

Washington

CITIGROUP plans to exit the mortgage-servicing business by the end of 2018 to focus on making new loans.

New Residential Investment Corp agreed to pay Citigroup US$950 million for servicing rights on Fannie Mae- and Freddie Mac-backed loans with US$97 billion of

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