Comments for Mortgage Loan Servicers, Including CitiMortgage, Reach National Mortgage Settlement

Mortgage Loan Servicers, Including CitiMortgage, Reach National Mortgage Settlement

2012-02-09T20:53:39Z

We want to share some information with you (that you may have heard about elsewhere) regarding the outcome the National Mortgage Settlement agreement reached by major mortgage loan servicers including CitiMortgage, Inc., Bank of America, JP Morgan/Chase, Wells Fargo, and Ally Financial.

CitiMortgage has agreed in principle to provide assistance to eligible homeowners. Through this agreement, assistance will be provided to homeowners in several ways to make loans more affordable and help keep people in their homes. The assistance will also be used to help homeowners who may choose to sell their properties. CitiMortgage will begin making assistance available in the coming weeks.

Please note: the consumer benefits will be available only from CitiMortgage if your mortgage is owned and serviced by us. If your mortgage is only serviced by CitiMortgage but is owned by another financial institution, unfortunately, you are ineligible for the consumer benefits available under this settlement agreement. Whether or not you are eligible for consumer benefits under the settlement, please contact us if you are suffering any hardship in paying your mortgage. We have many programs that may be able to help you. If you are serviced by CitiMortgage, please call 1-866-751-6911^†.

I'm sure you are wondering who might be eligible for this financial assistance. There are many specific eligibility guidelines. This is not a complete list, but in general, the settlement allows mortgage loan modifications or refinancing for homeowners who:

Have either a 1^st or 2^nd mortgage on a property that is occupied
Are "underwater", meaning they owe more than the current market value of the property
Have a mortgage owned and serviced by a participating servicer (e.g., CitiMortgage)

In March, CitiMortgage will be prepared to evaluate our customers for eligibility under the settlement programs. If you need more immediate assistance, we may be able to help you now. Please call 1-866-751-6911 or send an email to homeownersupport@citi.com.

We will also be adding a new forum category in the Homeowner Support Forums where you can go to start new discussions, ask questions, and connect with other homeowners who will be discussing these new programs.

Thank you,

Mike Cardace, Citi

www.homeownersupport.com

Email: homeownersupport@citi.com

^†Calls are randomly monitored and recorded to ensure quality service.

Comment from seattlepam on 2012-09-10

2012-09-10T23:21:01Z

My mother has tried to have her home refinanced through these programs twice over the last two years. She has been kept up with her mortgage for nearly a decade. The last few years her income has decreased significantly however, she has maintained the payments. The house is overvalued $60k. She has submitted tons of paperwork documenting her income only to find out the last time she did not qualify because of her income? Granted it is a conventional loan, not FHA. She needs to be refinanced and we aren't going to jump through anymore hoops. What can be done?

Comment from carolyn marshall on 2012-03-19

2012-03-19T18:22:59Z

There are several programs available to assist borrowers in a variety of situations. I've forwarded your inquiry to one of our Homeowners Support Specialist and asked that you be contacted directly.

In the meantime, I encourage you to visiIt our HomeownerSupport.com web site for answers to frequently asked questions about the settlement and join the conversation taking place on the community forum (https://community.homeownersupport.com/community/forums) . Thank you for contacting us; we appreciate the opportunity to serve you.

Comment from carolyn marshall on 2012-03-19

2012-03-19T16:57:06Z

Thank you for the post. I have forwarded your comment to someone that can help you. Please keep in mind that the consumer benefits under the settlement are only available only from CitiMortgage if your mortgage is owned and serviced by us. If your mortgage is only serviced by CitiMortgage, but is owned by another financial institution, unfortunately, you are ineligible for the consumer benefits available under this settlement agreement. In the meantime, I encourage you to visiIt our HomeownerSupport.com web site for answers to frequently asked questions about the settlement and join the conversation taking place on the community forum (https://community.homeownersupport.com/community/forums).

Comment from Aditto Saha on 2012-03-11

2012-03-11T13:26:22Z

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Comment from carolyn marshall on 2012-03-02

2012-03-02T16:10:08Z

Thank you for contacting us. I forwarded your information to a manger and understand he was able to contact you to address your concerns. I am sorry for the experience; we appreciate the opportunity to assist you.

Comment from carolyn marshall on 2012-03-02

2012-03-02T16:02:18Z

William, I forwarded your information to a manager and asked that she contact you directly to address your concerns. Thank you for contacting us; we appreciate the opportunity to serve you.

Comment from Patricia McArdle on 2012-02-29

2012-02-29T12:10:45Z

After months of working with various representatives of the elite Executive Response Team at Citimortgage, I am still struggling to get an answer on our application for assistance in an unemployment program. Currently, I have been waiting for a response to an email for over a week to two representatives in this department after faxing additional documentation to verify my husband's unemployment status. I continue to be amazed that I've been told that Citimortgage may not be able to accept the type of documentation provided by our state and therefore our application could be declined. I also continue to be amazed at the lack of concern shown for the impact of such a decision as well as any attempt to assist us in finding a way to solve the problem. I feel like I have wasted so much time off from work believing that there was a part of Citimortgage that would provide the kind of service and response that I've read about in Sanjiv Das' testimony before congress and your marketing material on line. I have put in countless hours, faxed over one hundred pages of documents, and I'm no better off than I was in the first few phone calls I made to the general customer service number. I was appalled at the response there and wrote to you about it then. I wish there really was a person at Citimortgage who could help me navigate the bureaucracy necessary to find a way to qualify for an assistance program as we go through this difficult period. If there is someone who can help me, please email me.
Thank you.

Comment from Jeremy Taylor on 2012-02-28

2012-02-28T20:58:37Z

I just found out my 1st that is serviced by GMAC is own by Citi mortgage, and my 2nd is also owend and serviced by Citi mortgage. I'm current on both, credit good but I'm underwater. Will this help me???

Comment from carolyn marshall on 2012-02-23

2012-02-23T20:18:43Z

Thank you for contacting us, Saundra. While you may not be eligible for the consumer benefits available under this settlement agreement, we have other programs that you qualify for so I've asked one of our managers to contact you directly. I understand Jason sent you an email and is now awaiting your response. If you haven't received the email yet, you may want to check your spam folders.

Comment from saundra raynor on 2012-02-20

2012-02-20T18:19:05Z

Is it true that if loan is serviced by Citi but backed by FannieMae or FreddieMac that we don't qualify for this new program?

Comment from DRMiguel on 2012-02-16

2012-02-16T17:05:17Z

What is the percentage of the principal bal. that you plan to pay for those who qualify under the settlement. What will the proposed interest rate be for possible rewrites of mortgages under the settlement. My rate is currently 7.99%. Will each mortgage be looked at on a case by case basis. My case is I'm current on my mortgage-but underwater. I called and I will receive some formal notice in March with a proposal. I would like more information.

Comment from Saundra Raynor on 2012-02-14

2012-02-15T03:06:16Z

Citimortgage services my FannieMae backed mortgage. Does this mean I am not eligible for any help? I am much underwater.

Comment from William Brandt on 2012-02-12

2012-02-12T21:31:09Z

I need a Supervisor to contact me. I paid my home off Early Like 20 yrs early I received no break in the interest, No credit Rating. Please contact me or I plan on contacting The us Goverment to handle this problem. My home burnt down 01/11/09 your company were paid off by April of 2009.