Citigroup Inc. has recently invested in Pylon, a fintech company specializing in mortgage infrastructure. This move signifies Citigroup's entry into the mortgage market and aligns them with other notable investors, such as Peter Thiel.

Pylon's main focus is on automating the mortgage origination process and providing interim financing solutions until loans are securitized in the capital markets. By utilizing innovative technology, Pylon aims to reduce origination costs and improve efficiency in the mortgage sector.

According to Trent Hedge, the CEO and founder of Pylon, their platform is designed to streamline operations and enhance the experience for lenders and borrowers. Citigroup's investment in Pylon demonstrates their commitment to expanding their presence in the evolving mortgage landscape.