AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Close
Create a link to this page
Copy and paste this link tag into your Web page or blog:
<a href="http://www.accessmylibrary.com/article-1G1-151219290/citigroup-hit-msr-issue.html" title="Facts and information about Citigroup Hit By MSR Issue.">Citigroup Hit By MSR Issue.</a>
Close
Set up an RSS feed that alerts you when new articles from Mortgage Servicing News are available.
Frequently asked questions about RSS feeds
Citigroup Hit By MSR Issue.
NEW YORK -- Citigroup said second-quarter revenue increased by 10% from a year earlier, with net income totaling $5.27 billion, or $1.05 per share. Net income was up 3.8% per share.
Citigroup said its rate of return on common equity was 18.6%.
Fixed-income revenue growth was one of the company's highlights, rising 51% from a year earlier.
U.S. consumer revenue, which includes mortgage banking, increased 1%, with net income from the U.S. consumer group rising 11%. Citigroup said that revenue from U.S. consumer lending was affected by a decline in net mortgage ...
Related articles from newspapers, magazines, journals, and more
For more facts and information, see all results
- Accounting for mortgage servicing rights.
- Magazine article from: The National Public Accountant Reynolds, Brian M. September 1, 1995 700+ words
...losses was chat the cost of the mortgage servicing rights were deducted from the...sold. As a result, current net income was understated and future net income would be overstated (dine mortgage servicing income didn't reflect the cost...
- MSRs Force Mystic To Revise Earnings.(mortgage servicing rights)(Brief Article)
- Magazine article from: Mortgage Servicing News October 1, 2003 700+ words
...adjusting quarterly net income for the last...the value of mortgage servicing rights." Mystic...adjustment means that net income will increase...not affect its net income for the fiscal...monitored its mortgage servicing rights to determine...
- The Impact of Mortgage Servicing on the Performance of Mortgage Banking...
- Magazine article from: Housing Finance International Kanagwa, James Ronnie June 1, 2008 700+ words
...legal action. Mortgage servicing is where the...mortgage banker's net income is produced. In fact the mortgage-servicing group is charged...contribution to net income. Poor servicing...properly managed mortgage servicing will stifle...
- Northrim Bank Reports 1998 Net Income Increases to $3.7 Million; Assets Rise...
- Press release article from: PR Newswire January 22, 1999 700+ words
...certain non-recurring items, net income for the fourth quarter 1997...Including these items, net income was $3.5 million, or...gain on sale of the bank's mortgage servicing portfolio. Net income for 1998 was favorably impacted...
- FASB reviews MSR accounting: the FASB is again making changes to the accounting...
- Magazine article from: Mortgage Banking Hutto, Gary W. April 1, 2005 700+ words
THE WORLD OF MORTGAGE SERVICING rights (MSR) accounting...should be reported in net income--its profit and...impact a company's net income. Why change? The...issue paper, Reporting Mortgage Servicing Rights at Fair Value...
- Provident Bankshares restates its results. (accounting change for...
- Magazine article from: American Banker August 20, 1993 700+ words
...change in accounting for purchased-mortgage servicing rights should be retroactively applied...second quarters should be restated. Net income for the first quarter 31 has been restated...6 million, or 25 cents a share. Net income for the second quarter was restated...
- Hibernia to Sell Mortgage Servicing Portfolio, Will Continue to Originate...
- Press release article from: Business Wire August 19, 2004 700+ words
...party residential mortgage servicing portfolio to CitiMortgage...does not expect its net income for 2004 to be impacted...impacted the value of mortgage servicing rights and resulted in volatility in the mortgage servicing income stream for...
- LANDMARK SAVINGS REPORTS EARNINGS OF $5.1 MILLION FOR 1991, INCLUDING FOURTH...
- Press release article from: PR Newswire January 29, 1992 700+ words
...common share for 1990. Net income for the fourth quarter...assets." Improved net income for 1991 was the combined...portion of purchased mortgage servicing rights. Also contributing to higher net income in 1991 was lower income...