Citibank Mortgage Complaint

Citibank Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker California

-/-/--Married - couple ( CitiMortgage borrowers, since -/-/- ) initiate refinance with CitiMortgage via telephone with goal ( s ) : Payoff existing loan, $ [email protected] % APR. Reduce APR. Reduce monthly payment. Utilize allowable reporting advantages tax year -/-/-. -/-/--Per request/in response to initial phone conversation -in order to provide clarification regarding -- borrowers forward copy of Annual County Property Tax Information Statement to Citi Mortgage Representative via email. Further, within email text, borrower points out specific location of - ( - ) as reflected on tax statement. Per real estate professionals consulted by borrower 's since, the presence of a " - would be readily apparent '' during the Preliminary Title Review process - properly conducted - " to any real estate financing professional and or loan officer ''. -/-/- to -/-/-, 300+ emails exchanged - most initiated by borrowers - between borrowers/Mortgage Representative/Personal Loan Processor** ( s ) / and -. Borrowers providing - among other items - all requested/required documentation in support of refinance effort. This included formal - Subordination document ( s ) to second position


Dozens of phone calls also exchanged during and after this period. On or about --Borrowers receive convivial phone call from CitiMortgage Personal Loan Processor**, seeking title related information and advising borrowers as to what to " expect '' going forward. -/-/--Loan Estimate $ [email protected] % and - Points funded and conveyed. * -/-/--Following-up on additional documentation provided by borrowers, Citi Mortgage Representative : " So thank you very much for your prompt work on getting those to me. Loan Processor** also informed me that she is very familiar with the - and has worked with them many times before. She informed me that she still needs to contact - for some internal documents. This can take some time but we will keep you updated as we go through the process. '' On or about -/-/--Via telephone, Citi Mortgage Representative articulates that " I misspoke. Loan Processor** has actually never worked with - before. '' The obvious : If Loan Processor** was " very familiar '' with - and due diligence had been conducted in the first place, Loan Processor** certainly would have informed borrowers in -/-/- Citi would not originate refinance with - recorded on tile. A blatant lie coupled with an attempt to cover Citi 's tracks. -/-/--CitiMortgage informs borrowers Citi is " not able to originate a new loan '' -/-/--Borrowers contact Citi " Executive Response Team ''. -/-/--Updated Loan Estimate $ [email protected] % and - Points funded and conveyed *. *In both of these scenarios, Loan Costs " Loan Amounts '' reflected " $5200.00 '' which-when factored-is - Points not - Points which - $1000.00. We received these egregious figures three different times-once via Next Day --Citi has remained silent on this issue. -/-/--Borrowers have repeatedly been told : " We must follow the lending guidelines enforced by our investors, as well as our credit policy. These guidelines dictate that we can not originate a new mortgage loan account on a property that has an active - lien recorded on title. '' -/-/- to present-Borrower repeatedly articulates, nowhere within CitiMortgage documentation is it disclosed-in a clear and conspicuous manner in writing-that Citi will not, or can not proceed assessment recorded on title. Borrowers find it inexcusable- bordering criminal -CitiMortgage took over two months to articulate their " guidelines '' forbade a - on property, much less attempt to abscond with $4200.00 of borrower cash.