Comment on Citigroup Says It Didn't Use 'Robo-Signers,' Still Faces Increased Risk Due to Sour Mortgages

Citigroup Says It Didn't Use 'Robo-Signers,' Still Faces Increased Risk Due to Sour Mortgages

Top Citigroup executives sought to assure investors and the public Monday by proclaiming that the firm's foreclosure process and its handling of key documents in securitizing home mortgages was "sound," despite growing concerns over how lenders like Citi may have skirted the law when bundling home mortgages and selling them, and again when kicking delinquent borrowers out of their home.The nation's biggest banks have come under increased scrutiny over the past few weeks as revelations surfaced over how the firms routinely mishandled basic documents like the note to the property in their rush to securitize loans for sale on Wall Street.

 

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