Citigroup, Inc. shows continued growth in its efforts to help distressed homeowners avoid potential foreclosure. Compared to the same period in 2008 total loss mitigation actions for borrowers serviced by Citi rose 85 percent, this is due to Citi’s vigorous foreclosure prevention program of modifications, extensions, forbearances and reinstatements, which consist of the Citi Homeowners Assistance Program and the Citi Unemployment Assist Program.
Currently, Citi remains the only major lending institution to offer detailed analysis of its portfolio of owned and serviced loans. “We recognize the difficulties that homeowners face in the current economic environment and our number one priority is to help keep homeownership a reality for our customers who find themselves in financial distress,” said Sanjiv Das, President and Chief Executive Officer of CitiMortgage.
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About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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