ABN Amro Mortgage of Michigan -- which is now owned by Citigroup -- is expected to hold town hall meetings at several company sites Thursday to announce a companywide restructuring plan, industry sources have told MortgageWire.A Citigroup spokeswoman said she had no information to provide concerning ABN Amro. Citigroup confirmed early Wednesday morning that it will cut 17,000 positions worldwide, but it offered no breakdowns on how it would affect individual business units. It also said it would move 9,500 jobs to "lower-cost" locations domestically and offshore.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
10h ago -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
10h ago -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
11h ago -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28