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.)
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