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CitiMortgage's inception occurred in 1973 when Citicorp began to look for ways to expand beyond the regulatory borders and constraints of New York.
This was done in an effort to provide a full range of services to consumers across the country.
One of Citicorp's first moves was to purchase Acceptance Finance Company, a St. Louis-based consumer finance company that became the forerunner of
Citicorp Mortgage.
Over the next 10 years, Citicorp's mortgage business underwent several divestitures, integrations, and restructuring. In order to reflect the spirit
of teamwork and cooperation, Citicorp officially consolidated its entities to create Citicorp Mortgage, Inc. (CMI) in 1987.
In 1998 Citicorp Mortgage's parent company, Citicorp, merged with the Traveler's Group in the historic merger which created Citigroup. Then, in
1999 Citicorp Mortgage acquired Source One Mortgage Corporation (SOMC), which would later be consolidated with Citicorp Mortgage to become the legal
entity CitiMortgage. Today, the CitiMortgage brand represents a proud heritage that encompasses expertise, leadership, and growth.
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