Citi Residential Lending ?Absorbed? by CitiMortgage

Citi, which just eliminated its wholesale home equity division continues with the changes; announcing the consolidation of Citi Residential Lending with the CitiMortgage unit. In an email to staff today Citi leadership announced that staff reductions would be imminent in the consolidation. Here's a clip of the email: As part of the next phase in creating an end-to-end U.S. residential mortgage business, we previously shared that the collective residential real estate businesses would operate under the CitiMortgage banner. To support this strategy and current market realities, a key element is the coming together of Citi Residential Lending and CitiMortgage. Today, we are announcing high-level details of this integration, which will allow us to maintain our capability and expertise