Printer Friendly

CITIBANK ANNOUNCES MORTGAGE SECURITIES AGREEMENT

 CITIBANK ANNOUNCES MORTGAGE SECURITIES AGREEMENT
 NEW YORK, Nov. 2 /PRNewswire/ -- Citibank today announced a non-


recourse mortgage securities agreement with Fannie Mae (Federal National Mortgage Association). The bank noted that the transaction is part of a plan to change the origination and selling of mortgages to better support the corporation's goal of using capital more efficiently. Current regulations do not require the bank to hold capital against mortgages sold on a non-recourse basis.
 The bank said it recently signed a new contract with Fannie Mae for non-recourse sale of $1 billion in mortgages. Total transactions with the agency for the year have reached $6.1 billion.
 "The agreement with Fannie Mae demonstrates the continued progress we're making in striking a better balance in our mortgage activity," said Kim D. Rosenberg, vice chairman and head of treasury and secondary market for Citibank's U.S. mortgage business. "We view this contract as another step in Citicorp's continued commitment to quality mortgage originations and the overall mortgage business."
 -0- 11/2/92
 /CONTACT: Maria Rullo of Citibank, 212-559-0409/ CO: Citibank ST: New York IN: FIN SU:


KD-SH -- NY023 -- 1465 11/02/92 10:03 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 2, 1992
Words:192
Previous Article:PROCOM INTRODUCES INDUSTRY'S MOST ADVANCED 16-BIT SCSI HOST ADAPTER
Next Article:USAIR TO OFFER SPECIAL INTRODUCTORY FARE ON NEW PHOENIX - BALTIMORE FLIGHT
Topics:


Related Articles
CITIBANK ANNOUNCES AGREEMENT WITH SONYMA
HSI MTGE. PASS-THRUS SERIES 1993-D RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
HOUSING SECURITIES INC. 1994-3 MORTGAGE PASS-THROUGH CERTIFICATES RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
CRIIMI MAE Purchases $74 Million Face Amount of Subordinated CMBS; Announces an Agreement in Principle for an Additional $106 Million
S&P Affirms Fund American Enterprises Holdings 'BBB' Senior Rating.
DCR Rates Chase Mortgage Finance Trust, Series 1999-S11 $396,999,937 (Approximate) Multiclass Mortgage Pass-Through Certificates 30-Year, Fixed-Rate...
Citibank Mortgage Announces New Identity as CitiMortgage.
CITIBANK ROLLS OUT TRANSPOINT E-BILLS.
Top 30 lenders--residential ARMs.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters