Well, they were one of the few remaining pushing seconds via the wholesale channel when the rest of the world backed away. I guess the sovereign wealth funds said "no mas" to home equity loans through brokers. Of course, they are still available through the retail channel. Just another ding against brokers. Just another bonus for the retail folks. Anyone still have questions about whether banks are trying to phase out wholesale?
From Citi Home Equity:
Important Announcement to CitiMortgage and Citi Home Equity Customers Regarding Home Equity Products - Please read
Earlier this month, CitiMortgage shared publicly a new business strategy that included originating greater percentage of saleable products. As a result of this strategy, we will no longer offer home
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