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Citigroup taps into the red-hot reperforming loan market

HW-Citi

Global lender Citigroup is capitalizing on a vibrant U.S. market for mortgages that have been dinged up by the pandemic.

The bank, through its residential mortgage-backed securities conduit, Citigroup Mortgage Loan Trust, has securitized some 45,000 reperforming loans valued in aggregate at $6.8 billion through five private-label offerings year to date as of the end of October, Fitch Ratings reports show. And they are truly scratch-and-dent loans.

The Fitch reports show that between 76% and 98% of the mortgages in the loan pools being securitized have been modified. In addition, between 1% to 12% of details ⇒

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