Head of Citigroup residential mortgages gets big promotion

History: Fannie, Freddie Seized by Federal Government In September 2008, the United states government seized mortgage giants Fannie Mae and Freddie Mac. Since that time, the government has pumped $111 billion of new capital into these government.

 · He’s known for having engineered the sales of the Citigroup Center and the Rhinelander Mansion, leased to Polo Ralph Lauren, and the purchase of the Drake Hotel development site. He has also structured mortgages, equity joint ventures and note sales, including the sale of the notes and mortgage on the Chrysler Building.

We have made every effort to keep our website free of jargon, but realise that some expressions might need further explanation. This glossary is intended to help you understand some of the terms used in the insurance, investment and financial services business.

Citibank Inc., part of financial services corporation Citigroup, was founded in 1812 as the City Bank of New York. Citi’s Global Consumer Bank has more than 100 million customers in 19 markets.

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