$25 billion 4th quarter production
By MortgageDaily.com staff
1/31/2005

CitiMortgage's quarterly volume climbed, while annual production slipped.

Fourth quarter prime home finance originations of $25.0 billion rose from the third quarter's $22.9 billion, according to the latest financial supplement by parent company Citigroup.

Full-year 2004 production of $99.1 billion took a downturn from $104.6 in the previous year, the report said.

Citigroup said the third party mortgage servicing portfolio of $291.3 billion at the fourth quarter's end jumped 84% from a year earlier.

Average real estate secured loans for the consumer financial segment were reported at $51.2 billion, up from $53.3 billion at the end of 2003. The segment reportedly operated through 2,642 North American sales branches.

The parent company announced net income of $17.0 billion was down 5% from 2003.

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