The Real Deal Miami

Citi puts $26B in TARP funds toward residential mortgages

February 03, 2009 11:17AM

Citigroup CEO Vikram Pandit said the company has put $25.7 billion of
the money it received from the federal Troubled Asset Relief
Program into the U.S. residential mortgage market. Citigroup has made
plans so far for a total of $36.5 billion of its $45 billion TARP
allocation.
During the fourth quarter, Pandit said, Citigroup also extended about
$75 billion in new loans and worked with 440,000 homeowners to help
them
avoid foreclosure.