The CEO of CitiMortgage in O’Fallon, Missouri says the company is hunkered in for the long-haul,  despite continued pressure on profits from the rising unemployment rate.

With unemployment over ten-percent and billions of dollars in failed loans weighing down profits,   CitiMortgage CEO Sanjiv Das admits he’s not encouraged by the numbers right now.

“Every time ten jobs are lost, you can count on the fact that there are four mortgages that are not paid,”  Sanjiv said.

On a publicity tour to boast about CitiMortgage efforts to help people avoid forclosure,   Sanjiv was asked whether parent company Citigroup might be forced to shed CitiMortgage.

Full story is available on kmox.com