Tag Archives: BarCap: Citi saves the most through short sales

Citigroup ($27.64 0.18%) saves the most money when doing short sales among the largest mortgage servicers in the country, according to Barclays Capital research. The bank conducts a short sale on 40% of its resolutions of troubled loans, the third highest percentage. Bank of America ($8.06 0.01%) and JPMorgan Chase ($35.88 -0.1%) each resolve roughly half of their problem mortgages through short sale. Because of the extended time it now takes a foreclosure to be completed and the maintenance and litigation costs involved, short sales reduce loss severities by as […]