Citibank Mortgage has completed its acquisition of Source One Mortgage Corp. The purchase makes Citigroup's mortgage unit the ninth- largest mortgage originator and the 11th-largest servicer in the nation, the company said Monday.

Last year, Citibank Mortgage and Source One originated more than $27 billion of mortgages and serviced or sub-serviced a $70 billion portfolio. Citigroup said the acquisition will broaden its product line significantly for low- to moderate-income borrowers.

Source One, based in Farmington Hills, Mich., operates a subprime lending unit in Poughkeepsie, N.Y., and a Sacramento, Calif., subsidiary, Central Pacific Mortgage.

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