AP – In a story Feb. 5 about Citigroup’s residential lending unit, The Associated Press erroneously reported that Citigroup Inc. sold servicing rights on a loan portfolio to American Home Mortgage Servicing Inc. for $1.5 billion. American Home Mortgage Servicing says the dollar amount is not the outright sale price; rather, most of the $1.5 billion includes advances American Home Mortgage is making to the trusts that own the loans.
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[Source: Yahoo! News: Business]
CORRECTION: Feb. 5 American Home Mortgage story
(AP)
February 7th, 2009 · No Comments
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