Report title: Servicer Evaluation: CitiMortgage Inc.
from S&P Credit Research
9945 word report published Jan 05, 2007

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Abstract: The ranking on CitiMortgage Inc. (CMI), an indirect wholly owned subsidiary of Citigroup Inc., is affirmed at STRONG as a residential mortgage servicer. The ranking of ABOVE AVERAGE is affirmed as a residential mortgage subprime servicer, and a ranking of STRONG is assigned for residential subordinate mortgage servicing for closed-end second mortgages only. The rankings reflect CMI's experienced management team, good level of automation, fine training methodology, and sound internal control environment. Within the past year, management successfully centralized many of its prime and subprime operational functions to take advantage of synergies between the previously separate entities. Although not yet fully transitioned, this will result in additional efficiencies and productivity gains once it is fully completed, especially with regard to

Brief Excerpt: RESEARCH Ratings Definitions Servicer Evaluation: CitiMortgage Inc. Publication date: 05-Jan-2007 Opinion The ranking on CitiMortgage Inc. (CMI), an indirect wholly owned subsidiary of Citigroup Inc., is affirmed at STRONG as a residential...

Report Type: Full Report
Issuer: CitiMortgage Inc.
Sector: Asset-Backed Securities, Financial Institutions, Global Issuers, Residential MBS, Structured Finance
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