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NEW YORK-After putting its residential correspondent loan purchase program on hold in late June, CitiMortgage has begun accepting new correspondent registrations from what it calls "select, qualified" mortgage banking customers.
The bank owned mortgage firm offered few details except to say that it will phase in remaining correspondents over the next several weeks. (A registration occurs when a lender submits the initial information required for underwriting or a rate lock-in.)
CitiMortgage - which declined to say how many active correspondents it had prior to the shutdown - stopped buying loans so it could work on improving its quality control procedures.
Registrations for correspondent transactions began last week.
Last year the Missouri-based CitiMortgage scaled back its wholesale production by roughly...