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Citigroup Cites Higher Servicing Revenue.
New York -- Citigroup, the nation's largest bank holding company, said that its fourth-quarter earnings grew 30% from a year earlier, despite a decline in income from its consumer group. Still, the company saw improved home loan servicing results.
Citi's net income totaled $6.93 billion in the fourth quarter, with earnings per share coming in at $1.37. However, Citi said a $2.1 billion after-tax gain related to the sale of its asset management business helped generate the increase in net earnings. The company's global consumer group, which includes mortgage lending, saw its income decline by 9% in the fourth quarter. CEO Charles Prince said that despite a spike in ...
- J.P. Morgan Chase Sees Lower Loan Servicing Revenue.
- Magazine article from: Mortgage Servicing News September 1, 2006 700+ words
...decline in net servicing revenue to $116 million...million loss on mortgage servicing rights risk management...increase in loan servicing revenue of $46 million...quarter. (c) 2006 Mortgage Servicing News and SourceMedia...
- Citigroup Cites Higher Servicing Revenue.
- News wire article from: Mortgage Line March 15, 2006 700+ words
...said that average loans grew by 17% and that mortgage servicing revenue increased. However, these positives were partially...net interest margin compression. (c) 2006 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved...
- The accounting has shifted for servicing rights. (mortgage servicing rights)...
- Magazine article from: American Banker Horn, Michael F. Oliver, Geoffrey A. September 29, 1993 700+ words
...regulatory bodies on the accounting for mortgage servicing rights. The major accounting issues for mortgage servicing rights are: * The amount initially...reporting purposes. Servicing Rights Mortgage servicing rights are the rights to servicing...
- W.Va. bank goes against grain, tripling its servicing.(City Holding Company of...
- Magazine article from: American Banker Sullivan, Annie January 21, 1997 700+ words
...maker has plunged into mortgage servicing at a time when others are...purchase raised City Holding's mortgage servicing portfolio to nearly $900...of the more unique banks. Servicing revenue will become part of the overall...
- Accounting for mortgage servicing rights.
- Magazine article from: The National Public Accountant Reynolds, Brian M. September 1, 1995 700+ words
...s SFAS No. 122, Accounting for Mortgage Servicing Rights, amending SFAS No. 65...reconsider the accounting treatment of mortgage servicing rights. The MBAA wanted the FASB...the accounting distinction between mortgage servicing rights chat are acquired through...
- CONSOLIDATION OF NATIONSBANK RESIDENTIAL MORTGAGE SERVICING PROCESSING...
- Press release article from: PR Newswire December 17, 1991 700+ words
...CONSOLIDATION OF NATIONSBANK RESIDENTIAL MORTGAGE SERVICING PROCESSING ACTIVITIES, AND THE PLANNED SALE OF MORTGAGE SERVICING UNIT ANNOUNCED CHARLOTTE, N...Consolidation of NationsBank residential mortgage servicing and processing activities, and...
- PNC'S CITIZENS FIDELITY BANK CLOSES ACQUISITION OF COWGER & MILLER MORTGAGE...
- Press release article from: PR Newswire June 8, 1992 700+ words
...ACQUISITION OF COWGER & MILLER MORTGAGE SERVICING PORTFOLIO PITTSBURGH, June 8 /PRNewswire...has closed its acquisition of the mortgage servicing portfolio of Cowger & Miller...by Citizens Fidelity Bank's PNC Mortgage Servicing Company. The acquired portfolio...
- PNC'S CITIZENS FIDELITY BANK SIGNS AGREEMENT TO ACQUIRE COWGER & MILLER...
- Press release article from: PR Newswire March 24, 1992 700+ words
...TO ACQUIRE COWGER & MILLER MORTGAGE SERVICING PORTFOLIO PITTSBURGH, March 24...definitive agreement to purchase the mortgage servicing portfolio of Cowger & Miller...will purchase a $1.5-billion mortgage servicing portfolio, consisting of approximately...