Citigroup Fined $8.6 Million By Federal Reserve For Robo-Signing Related Issues The Federal Reserve leveled an $8.6 million fine against CitiGroup on Friday. The Federal Reserve stated the fine was due to the “deficient execution and notarization of certain mortgage affidavits. The issue stems from Citigroup’s exit from the mortgage servicing business back in 2017. The […]
Banks To Pay $311 million For Violating SCRA By Illegally Foreclosing On 2,413 Service Members The U.S, Department of Justice announced last week that SCRA violations by five major servicers now totals $311 million. The funds are also available to 2,413 members of the military who’s rights were violated under the SCRA. Five major banks […]
Government Audit Shows Citigroup Neglected Paid Nearly $20 Million Two years after Citigroup Inc. was punished for widespread foreclosure abuses and still owes TARP bailout money to taxpayers, is finally getting around mailing settlement checks to 23,000 of its customers for foreclosure abuses. Citigroup missed about 23,000 borrowers who were owed compensation and is now preparing […]
Citigroup Selling Servicing Rights as Banks Retreat The U.S. mortgage market’s largest lenders like Citigroup are pulling back amid looming regulations and a drop in refinancing that fueled record profits last year. Bloomberg via National Mortgage News Citigroup Inc., the third-biggest U.S. bank, is selling mortgage-servicing rights on $63 billion of loans, or about 21 […]
OCWEN’s Own Attorneys & Homeowners Agree: OCWEN Needs To “STOP THE INSANITY!” Homeowners have been emailing us their Ocwen horror stories. The National Mortgage Settlement was supposed to improve customer service. Instead, just the opposite happened. Mortgage servicers realized it was easier and more profitable to sell the servicing rights of the loans. They skirted […]
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