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.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.