Here's What Citigroup Said About Its Mortgage Repurchase Risk

The Citigroup conference call is at 11, and so we’ll learn more then, but just based on the announcement, there’s not much doing on the foreclosure-gate, repurchase risk front.

This is it form their latest quarterly:

Local Consumer Lending revenues were $3.5 billion, down $659 million, or 16%, sequentially, driven by losses on asset sales and a continued decline in balances. Average loans declined $53 billion, or 18%, to $248 billion, driven by the reclassification of student loans to held-for-sale in connection with the announced sale of SLC, and lower residential real estate and Retail Partner cards loans. Revenues also reflected an addition of $322 million of mortgage repurchase reserves related to North America residential real estate, compared to $347 million in the prior quarter.

And that’s it. Repurchase reserves actually decline sequentially.

Shares are up a tiny amount pre-market.

Click here for a guide to Bank of America’s risk on this front >

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