Citibank Preparing Push Into Bay State
By Andrea Gregory
In what appears to be an opening salvo for Citigroup Inc. coming into Massachusetts, the New-York-based operation is said to be shopping in the Boston area for branch locations. It already has auto loan and mortgage locations in Massachusetts, but the nation’s largest financial services company has never had a banking presence here.
Changing Industry Prompting Lenders to Go Nontraditional
By Andrea Gregory
The traditional mortgage and refinance markets have become increasingly more competitive as rates have risen and the customer base has shrunk. Lenders can no longer afford to sit around waiting for the phones to start ringing off the hook the way they did during the refinance boom. Many lenders are turning to niche markets as a way to survive the new lending climate, and industry experts say they are seeing a rise in popularity of nontraditional mortgage products.
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