Citigroup Inc. sold a $517 million portfolio of nonperforming mortgages in late January, according to market sources.
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As of press time Citigroup had not returned a telephone call about the matter.
Citigroup has been an active seller of nonperforming loans over the past year. In December it sold a $441 million package of nonperforming loans to PennyMac for an undisclosed amount.
An investor familiar with recent Citigroup auction said the nonperforming loans were sold in three different pools.
"They got their reserve price, too," he said, requesting his name not be published.
