“Citi has made a small number of staffing reductions within our mortgage team due to internal streamlining of functions," a company spokesperson told the news service.
Another source said that fewer than 100 roles were affected.
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Fannie Mae Trims Mortgage Originations ForecastsFannie Mae announced it expects further slowing in housing as the economy heads for a modest recession in 2023, and it has cut its projections for the mortgage industry accordingly.
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Citigroup Joins Wells Fargo in Laying Off Mortgage Pros
Citigroup has followed competitors such as JPMorgan Chase and Wells Fargo in cutting mortgage jobs. So reports Bloomberg.
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