After Citi Buys Principal Residential What the New Servicer Will Look Like
(Dollars in Millions)
(part 1 of 2)
Company Serv. # 3-31-04 Serv. Rank
CitiMortgage, (1) $221,493 6
Principal Res. $118,372 11
Combined: $339,865 5
(part 2 of 2)
Company # of Lns. Serv. Software
CitiMortgage, (1) 1,694,553 In-house sys.
Principal Res. 952,553 In-house-sys.
Combined: 2,647,106 na
Notes: (1) In early 2003 Citi bought First Nationwide Mortgage, a large servicer that was using Alltel's technology for servicing loans. In-house systems often are developed by a servicer in tandem with a technology service bureau.
Source: MSN/QDR/Mortgage Industry Directory.
Questions? Email: Paul.Muolo