Citigroup Settles with Homeowners in Filing Fraudulent Mortgage Documents Case

Perhaps this news is a forward step in the right direction involving Citigroup who have admitted to defrauding US homeowners

Citigroup

Here are more details courtesy Florida Center for Investigative Reporting – quote – In a handful of cases around the country, Citigroup has reached settlements with homeowners who accused the bank of filing fraudulent mortgage documents to prove its legal standing to collect the debt in bankruptcy proceedings

The cases put a twist on recent efforts by banks to patch over problems created because lenders and securitizers were sloppy with documentation during the housing bubble. These homeowners alleged that Citigroup’s mortgage assignments — a key document produced whenever the ownership of a mortgage changed hands — were flawed because they were dated after the bankruptcy was filed.

Let us see what is next from Citigroup after all they created these problems when they blatantly defrauded the innocent and helpless US homeowners

Read the FCIR article here

http://fcir.org/2011/02/08/accusations-of-fraudulent-mortgage-documents-led-citigroup-to-settle-with-homeowners/

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