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Major bank announces intention to be bigger player in residential market
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Jane Frasier, the head of U.S. consumer and commercial banking for Citigroup, said that the company is looking to play a bigger role in the U.S. residential mortgage market.
Speaking at the MBA National Secondary Market Conference & Expo in New York on May 21, Frasier stated the company’s intention is to grow its footprint by buying more home loans from other firms.
The move is a strategy Citigroup will employ to regain its place in the market: It has dropped from being the fourth largest mortgage originator in 2007 to the sixth largest today, Bloomberg reported.
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