Hints and tips:
...But, of course, there’s a reason why it’s widely called Shitibank; the sprawling, gormless Citi has for a v v v very long time proven adept at blithely ambling onto various rakes around the world....
...Shortly after the financial crisis, she landed one of the toughest assignments at the bank: turning around Citi’s mortgage division, the unit that had created many of the toxic loans that had nearly taken...
...Citi also has a reputation for offering favourable rates on mortgages to its law firm clients....
...Hunterbrook accused UWS, a mortgage lender, of cultivating loyal mortgage brokers while telling customers they were independent....
...Citi says it serves 700 law firms and 50,000 lawyers in the US and Britain, providing services that include favourable mortgage rates....
...And the riskiest business to be in was subprime mortgage. So Citi ran right into it....
...Commercial property, and in particular mortgages on office buildings with low occupancy rates, have been a big concern for lenders since the Fed started lifting interest rates....
...Zoom out beyond Morgan Stanley and Citi and their moves hint at broader pressures....
...They join from Morgan Stanley and Citi, respectively. Coatue Management managing director Aaron Weiner is leaving the group to start a new hedge fund, Bloomberg reports....
...(Ethan Wu) One good read Aswath Damodaran likes Citi stock....
...JPMorgan, Citi and Wells Fargo report earnings on Friday, followed by Bank of America on April 18....
...For one thing, the sharp rise in mortgage rates has put a lid on banks’ home-lending businesses....
...She’ll stay until May to help Anand Selvakesari, Citi’s personal banking and wealth management chief, take on the additional role of chief operating officer....
...However, it will take two years or more to fully wind down its stock of deposits, mortgages, credit cards and small-business loans....
...By Daniel Thomas, Philip Georgiadis, Peter Campbell, Abby Wallace, Owen Walker, George Hammond, Sylvia Pfeifer and Jonathan Eley...
...remember, that allowed JPMorgan to tell investors in January that “a next generation financing company could potentially leverage digital clothing as collateral to underwrite virtual land and property mortgages...
...Rodrigo Morales Elcoro, professor at the Facultad Libre de Derecho in Monterrey, said competition regulator Cofece would closely analyse individual markets — for example credit cards or mortgages — if an...
...This is not just a recent phenomenon: Adam quotes Mark Jones, former director of London’s V&A, on Richard Wallace (1818-90), founder of the Wallace Collection, who “was an outsider, because of being illegitimate...
...Citi, Barclays, Deutsche and SocGen declined to comment....
...Take Ellington, one of the oldest and biggest dedicated credit hedge funds, having been set up in 1994 by Michael Vranos, a former superstar mortgage bond trader at Kidder Peabody....
...The Federal Reserve has committed to buying $120bn of US Treasuries and agency mortgage-backed securities each month until it achieves “substantial further progress” on its goals of a more inclusive recovery...
...Her progress was quick, moving from heading Citi’s private bank to leading its mortgage business through the subprime crisis to running Latin America, one of Citi’s most important markets....
...At the mortgage business, Ms Fraser improved performance by cutting operating expenses and switching to originating mortgages through Citi’s own retail channels instead of through brokers....
...“Markets are pricing a V [shaped recovery], everyone’s coming back to work, and this is going to be fine,” Mr Falco said. “I don’t think it’s going to be that easy quite frankly.”...
...The global equity strategy team at Citi, led by Robert Buckland, say stocks around the world may well be stuck over the next 12 months....
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