Citigroup To Cease Using Mortgage Brokers

Posted by Orb Staff on February 03, 2012 No Comments
Categories : Residential Mortgage

10867_closed Citigroup To Cease Using Mortgage Brokers Citigroup Inc. is planning to cease using brokers to originate its mortgages.

According to a Bloomberg report, the lender's decision will impact 300 employees tied to its mortgage brokerage business. Mark Rodgers, a Citigroup spokesperson, says that most of the employees will be reassigned and job ‘discontinuances’ should be in the ‘low double digits.’

‘Making this decision now affords us the opportunity to better serve the financial needs of our customers,’ Rodgers says. ‘We anticipate the majority of our employees within the broker channel will be transitioned to similar roles within the business.’

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