Citicorp Delinquent Mortgages Grow: The New York...
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From Times Staff and Wire reports
Citicorp Delinquent Mortgages Grow: The New York banking giant, hit hard by the slump in the Northeast economy, said in a Securities and Exchange Commission filing that its delinquent residential mortgages rose to $1.1 billion in the third quarter. That means 3.6% of Citicorp’s home loan borrowers were 90 days or more late on their payments as of Sept. 30, up from 3% on June 30. Citicorp also repeated its forecast that losses on its commercial real estate portfolio may grow.
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