CFPB Requests Citi Subsidiaries to pay $twenty-eight.8 Mil having Providing the Runaround so you can Consumers Trying to Save your self Their houses
CFPB Sales Citi Subsidiaries to invest $28.8 Mil to own Supplying the Runaround to help you Borrowers Trying to Cut Their houses
Washington, D.C. – An individual Monetary Safeguards Bureau (CFPB) now grabbed separate steps facing CitiFinancial Servicing and you may CitiMortgage, Inc. to own giving the runaround so you can stressed homeowners looking to choices to rescue their houses. The borrowed funds servicers leftover borrowers at nighttime on choices to stop foreclosures otherwise burdened them with an excessive amount of papers need inside implementing to have property foreclosure recovery. The fresh new CFPB are requiring CitiMortgage to spend a projected $17 mil to pay wronged users, and you will spend a civil punishment out-of $step three mil; and you can demanding CitiFinancial Properties to reimburse whenever $4.cuatro billion to people, and you will shell out a municipal punishment out of $cuatro.cuatro mil.
“Citi’s subsidiaries provided the newest runaround to help you borrowers who have been currently striving employing home loan repayments and you may looking to save their homes,” said CFPB Movie director Richard Cordray.
