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Feb 19, 2007

Citigroup to buy ABN AMRO Mortgage GroupMortgagePress.comCitigroup,ABN AMRO Citigroup has announced the pending purchase of ABN AMRO Mortgage Group Inc., which will represent $9 billion in net assets and a $224 billion mortgage-servicing portfolio. The transaction is expected to close by the end of the first quarter of 2007. The acquisition will add approximately 1.5 million servicing customers to Citigroup subsidiary CitiMortgage's portfolio, as well as 2,500 wholesale brokers to its wholesale lending business. ABN AMRO Mortgage Group Inc. is a mortgage lender and subsidiary of Amsterdam-based ABN AMRO Bank N.V. For more information, call (877) 406-2967 or visit www.mortgage.com. Citigroup is a financial services company based in New York. For more information, call (800) 285-3000 or visit www.citigroup.com.

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Feb 19, 2007

Analysis and Data

Home Sellers' Q1 Profit Margins Declined Quarterly, Annually

ATTOM reported decrease of 55.3% in the first quarter – the smallest level in more than two years.

ATTOM released its Q1 2024 U.S. Home Sales Report, revealing that profit margins for U.S. home sellers on median-priced single-family home and condo sales in the United States decreased to 55.3% in the first quarter – the smallest level in more than two years. The decline...

Regulation and Compliance

Mortgage Servicers Added To Junk-Fee Naughty List

New release from CFPB lays out areas of improvement, and concern, for mortgage servicers.

The Consumer Financial Protection Bureau (CFPB) today published new supervisory highlights describing the regulator's recent actions to combat junk fees charged by mortgage servicers, as well as other illegal practices. The CFPB has also announced that it is working to addre...