Citi Broadens Relief for Mortgage Customers Following Hurricane Sandy

Citi CEO Michael Corbat said earlier this week "Our Hurricane Sandy relief programs are intended to alleviate some of the financial hardships facing our customers so they can focus on the most pressing issues in front of them. Citi is committed to helping our customers recover and rebuild by being sensitive and accommodating to their needs."

We are extending service relief to mortgage customers, acknowledging hardest-hit areas as announced by the Federal Emergency Management Agency (FEMA) and offering impacted homeowners in these designated areas the following support. In all cases Citi will comply with investor requirements and guidelines:

• Waiving late payment charges for 90 days


• Customers may be eligible for payment extension options, including up to 90 days forbearance of payments (or longer, based on guidance from investors for loans they own)


• A temporary suspension on foreclosure sales for customers in these FEMA disaster areas, as permitted by the individual customer and law.

For customers who are working on getting a modification of their mortgages, CitiMortgage is allowing additional time for gathering and submitting documents and extending trial payment periods in many cases.

For customers with mortgage applications in process in the affected areas, there may need to be a re-inspection process, at no cost to the customer, to ensure that there is no damage sustained on the home. Homes without damage will be expedited through the closing process.

Additional information may be found on www.citimortgage.com.