Reuters

Citigroup to Streamline Mortgage Ops; Will Consolidate Primary, Secondary Market Activities 

An internal memo leaked to various press outlets on Tuesday afternoon finds that Citigroup, battered and bruised from the mortgage mess, will consolidate its mortgage operations under one roof. The streamlining effort will bring origination, servicing and capital markets operations together within one business line. The memo, which Reuters reports was confirmed by a Citigroup spokesperson, said that Bill Beckmann, president and COO of CitiMortgage Inc., will oversee the new business.