Citi Courts WaMu? Not Likely, But...

Is the nation's largest commercial bank courting the nation's largest servicer of home mortgages?

As Mortgage Servicing News went to press this month, a rumor was making the rounds (thanks to Reuters news service) that Citigroup might have designs on Washington Mutual, Seattle.

With $722 billion in residential receivables on its books, WaMu is already the nation's largest servicer, but if Citi purchased the thrift it would create a mortgage banking behemoth with close to $1 trillion in home servicing rights. (See table.)

Copyright 2003 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.mortgageservicingnews.com

Next in News ►