Bill Beckmann has been named president of St. Louis-based CitiMortgage.Mr. Beckmann has been employed by Citigroup for more than 20 years, most recently as chief servicing and technology officer for its Real Estate Servicing and Technology division. In that capacity, he oversaw servicing and technology for Citigroup's residential real estate properties, including CitiMortgage, CitiFinancial Mortgage, Citicorp Trust Bank, Private Mortgage Operations, CitiFinancial Network, and Chesapeake Appraisal and Settlement Services, the company said. Mr. Beckmann was previously president of specialty lending in Citigroup's U.S. Consumer Assets Division. CitiMortgage can be found online at http://www.citimortgage.com.
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The founder who was recently ousted as CEO said he wants to return the company to its positive trajectory, after last week's shakeup battered its stock price.
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The lender won its motion for summary judgment just about two months after the court denied a plaintiff's attempt to certify a class of over 50,000 consumers.
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While delinquencies eased overall quarter to quarter, they trended upward on a yearly basis across all loan types, the Mortgage Bankers Association said.
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The seller surplus was a result of sluggish demand as opposed to increased supply. The 30-year fixed-rate mortgage rose every week in July to 6.66%.
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More than a third of listings are below their original ask, with entry-level homes seeing frequent cuts in several metros, Movoto data shows.
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For the first time in six weeks, the 30-year fixed rate mortgage dropped, with observers expecting a steady but challenging housing market for the rest of 2026.
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