Origination

Citigroup Inc. has started job cuts this quarter that will affect nearly 4,500 people, chief executive Vikram Pandit said on Tuesday.

Matt Morris, who was recently appointed as chief executive of Stewart Information Services Corp., Houston, has created an executive team at the company.

U.S. Bankruptcy Court has ordered Mercer Rug Cleansing to sell its four real estate and business assets through auction.

Agency prepayment speeds came in line with expectations in the 30-year sector, where they were up 3% from the previous month, according to Credit Suisse's fixed income research report Wednesday.

Even though foreclosures and distressed properties will remain a significant part of the home sales market in Florida next year, plus the macro economic headwinds, economists cited by the state's Realtors said the market is in "a mini-recovery."

Walker & Dunlop Inc., a commercial mortgage banker, has opened an office in Nashville, which will focus on multifamily and healthcare loan originations through the Federal Housing Administration insurance program.

Care Investment Trust Inc., New York, has sold its interest in a medical office portfolio in order to concentrate on the senior living sector.

Servicers refinanced more than 85,000 high LTV loans under the Home Affordable Refinancing Program in the third quarter, up nearly 11% from the prior period, according to new figures compiled by the Federal Housing Finance Agency.

Application volume increased by 12.8% on a seasonally adjusted basis for the week ended Dec. 2, as rates fell to their lowest levels in two months.

Total Mortgage Services, Milford, Conn., said it has received regulatory approvals to fund residential loans in West Virginia.