Citigroup profits in 2010 despite issuing NEW questionable mortgages

15% of the mortgages Citigroup sold to government-owned Freddie Mac from the second half of 2009 and the first part of 2010 were riddled with flaws, according to an internal report obtained by Bloomberg. The error rate should be about 5%. The mistakes included missing insurance docs, missing appraisals and income miscalculations.

Other defects on these mortgages included… [Read the full story...]

Fatal error: Allowed memory size of 67108864 bytes exhausted (tried to allocate 51 bytes) in /home/content/07/5498607/html/tegresources/wp-includes/cache.php on line 570