Servicing transfers last month tumbled from September as a result of a massive sale the previous month by the home-lending unit of Citigroup Inc.

Servicing on $13.962 billion in agency loans was transfered during October. Volume plunged from a month earlier, when the total was $25.110 billion.

September’s volume was inflated by CitiMortgage Inc.’s transfer of servicing on $12.110 billion in Freddie Mac loans to New Residential Mortgage LLC.

Source: Mortgage Daily