Prime Lender CitiMortgage Swallows Operations Of Corporate Subprime Sibling CitiFinancial
August 4, 2006
Prime lender CitiMortgage has absorbed the non-prime lending operations of corporate sibling CitiFinancial, whose consolidation executives say was motivated to better serve customers. However, the move may have more compelling reasons in saving money, since a consolidation will generate costs savings, such as reducing staff and expensive office space. …