CitiMortgageloss draft dept

J
This review was posted by
a verified customer
Verified customer

I suffered a plumbing failure and subsequent flooding in my house in Florida while I was away on vacation. The insurance company promptly sent an adjuster and sent a check to me to cover the damages. Since CitiMortgage had the mortgage on the house I was required to endorse the check and send it to them to be placed in an escrow account. That was in early Oct. I was acting as the General Contractor and they released one third of the amount after a long delay caused by getting conflicting information from different people at CitiMortgage as to what forms were required. I have never known a business that requires 3 to 4 days from the receipt of a fax to acknowledgment that it has been received by the dept. that it was addressed to! Their policy dictates that as the repairs are made inspections are required to verify that the work is actually being done. My kitchen has now been inoperable for two weeks and is exposed to the attic, repairs have been made and it is now ready for the installation of the cabinets and the sub-contractors are anxious to be paid for the work so far. Nothing ever gets done at CitiMortgage in less than 3 to 5 business days. I felt an obligation to pay the sub contractors from my own checking account and am waiting once more to get another third of my money that they have been holding since early Oct. This company is totally mismanaged and it is no surprise that they get similar complaints from many others. Aside from that, the idiots in their trust dept just lost half of the money in a family trust they have had since 1927 and collected their fees every year for basically doing nothing except put our money in under performing funds sponsored by the bank. Nice going fellas. No wonder your stock is $6 bucks.

Responses

  • No
    No To Citimortgage Jul 27, 2014

    We have had trouble with Citimortgage on an insurance claim as well. The work has been done since the end of May and 1 contractor still has not been paid, plus they will not get us a statement telling us who has been paid and the amount that was paid. We have kept track of the amounts that were to be paid out and there is $46.10 that has been unaccounted
    for. We have not been able to get a straight answer out of anyone that we have talked to. This stress has caused my husband to have a heart attach. Lets band together and take them to court

    0 Votes
  • Br
    Bruwegs Feb 09, 2014

    My story is similar to several of those posted in here. I paid for the repairs in full after a Citi rep told me once they receive the check, they already had the necessary paperwork and the payment would be released. That was in November. It is now the second week of February (three months) and they are still holding over $6K in funds. They told me the roof needed to be 95% clear of snow coverage in order to inspect it, but this is Minnesota, and that isn't happening for awhile. After I explained that, I was instructed to submit a "certification of completion" form, and the funds would be released... why wasn't that an option from the beginning? I have had at least four different interactions with them, and while the people I spoke with were friendly, it makes me question the tactics of the company, or perhaps it is just inadequate staff and/or training.

    0 Votes
  • I am another contractor who has all of the same complaints as this seems to be going on for the past 5 years, based on the above comments! Horrible Customer Service! There is None! Don't Anyone go with Citi for their Mortgage!! The only time you Need THEM is when a tragedy occurs, because they get your money due to the insurance payment. They don't care about your loss as a homeowner, and furthermore I kept my word and finished the job. Thus, we are still waiting for our payment! Don't they have a boss? Something needs to be done with this company and their claims department, making a AG complaint!

    0 Votes
  • Fr
    Frustrated.like.u Feb 13, 2013

    My family is currently in this same situation...CitiMortgage won't release the check to pay for repairs. Every week they say I will get it on Monday but I don't so i call and their excuse is that something is missing but then minutes later they say, "its complete, you'll get it Monday" but it doesn't come. I've heard this same excuse over and over again.

    Also, I mistakenly authorized they take $10. from the check to have it sent back to me via over night delivery but that just seemed to confuse them more. We were told they deposited the check and now have to wait to have a fresh check cut by them. We've realized (in my opinion) that CitiMortgage is after the interest they get per month for having this money in their account...what I mean is...not just the money to pay for my repairs but the money they are holding from everyone in this situation...it adds up.
    Thieves????...maybe...I wasn't told I was going to be sent a check plus interest. I paid the contractor out of my pocket because its not fair if they completed the work not to pay. I'm out the interest I could have made having this in my savings account and yes, perhaps its not a lot but one cent that CitiMortgage makes off of the misfortune of others is too much.

    Incompetent, uninformed, confused, liars...etc.

    0 Votes
  • Mj
    mjbsplace Feb 13, 2013

    I too am being caused a delay being the general contractor. Citi Mortgage decided the cabinet and counter top vendor was my "contractor" and their check will have both my name and their name on it, so the $$ for them is being held hostage for now. the Company wants to be paid, 1 month since complete, but i can't even write them a check or pay them due to both our names are going to be on the check when it is sent from Citi Mortgage...

    0 Votes
  • It amazing how many idiots they have working at CitiMortgage, especially in the loss draft department.

    -2 Votes
  • El
    Electrical contractor Mar 29, 2012

    As a contractor, and this being my first time dealing with CitiMortgage, I can tell you it will be the last. The insurance company paid the claim. Citi has been sitting on the money, and no work has been done on our end resulting in a pregnant woman and her family out of a house for the last three weeks while they keep saying the check is in the mail. I will not be doing any work until the money clears my bank account. I am very happy I made this choice after reading the comments on the site, and many other ones. Citi will not hang my company out to dry, and the first thing I will ask if the situation ever comes up again is? "Who is your Mortgage company?" If It's Citi, my company will walk, and Highly recommend if you are a contractor you do the same. Horrible company! Horrible people!

    0 Votes
  • Jo
    Joanne Reeves Dec 29, 2011

    We have had the exact same experience. When we got the insurance money I called CitiMortgage customer service and got instructions about how to submit our check for their endorsement. They never told me we were supposed to endorse the check, and then mail to Citi. As a result, we had to wait for Citi to mail the check back to us for our endorsement. By that time I had already lined up the contractractor. And then it was weeks before we got any portion of the money. We had to go ahead and front the cash out of our own pocket for our roof repair. Luckily we did have it. We used the contractor recommended by Citi, and they had to have cash at time of completion. Then we had to wait until Citi got around to sending their inspector our to look at the roof before they would release the remaining 50% of our insurance money. I think it's a ploy to use the consumer's money (float time) as long as possible. It should be illegal!

    0 Votes
  • Di
    Diane in Missouri Oct 24, 2011

    Wow, Reading everyone else's comments on here don't make me rest too easy...
    We had a fire back in August due to a lightning strike. Our home damage was over $107, 000.00. We had no problems with our insurance co. what so ever. I was a bit surprised to say the least.. But like everyone else on here, I had to sign the check over to citimortgage. I can understand there are people out there that would take the money and run, but that is NOT our case. Our contractors are getting upset that they can't get the money that is owed to them. I am so upset over the way Citimortgage does their clients that I would love nothing more to re-finance with another company, but we are not able at this time. We too, are over 80% done. Had our first inspection and all was well.. Sent in the receipts and invoices next day air and it took them 4 business days to process!!! REALLY?? I bet if there was a check in that envelope they would have had it deposited in their escrow acct.. earning interest!! They tell me first that I don't have the proper waiver of leans, then tell me that, that was a mistake and the invoices were kicked out!!
    COME ON!! Can you not read what is on there????? I am so frustrated with these con-artists I could just cream, but what good would that do.
    Citimortgage, you are lacking in so many ways. You need to make it a little easier for the people already in distress.. There is no reason to doubt the people who are proving by inspection that the repairs are being made. It takes more than a 1/3 of your release to get to 50%. That not every american can afford to pay for the repairs themselves before the money is released!! Can't you make some changes for YOUR clients??? Come on. What if it was YOU???

    -2 Votes
  • Ti
    Tired in Mississippi Jun 08, 2011

    I was browsing to find a way to contact and complain at Citi Mortgage and found your website. I am glad I did. You think trouble. We were hit with a tornado on April 27 and insurance sent money fairly quickly but the ordeal with the mortgage company has been a nightmare. They say they need this and that sent in, you do it and they come up with something new. When you have 80 thousand worth of damage they expect you to get money in one third increments, which putting a new metal roof on took most of that money. It has been a month or better and it is a nightmare. I have heard that they invest that money and make intrest off the money we paid in to the insurance company. What is up with that. They sure want their mortgage payment on time... Just saying...

    0 Votes
  • Up
    Upset47172 Feb 25, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I work for a restoration company and we deal with this daily. I currently have a claim check going to CitiMortgage for the second time...because they had the check soooooo long the first time it expired. After Citi Mortgage decides to endorse it we have to send it back to PNC. This job has been complete since August 2010. Needless to say we have received no money for the job and have paid subcontractors and materials. To be honest the only time I have luck getting a check endorsed is if it is a local bank and under 10, 000.00 Otherwise it is sent off and lost in translation. Everytime we call we get a different answer from someone. Something needs to be done!

    0 Votes
  • Wa
    wallyth Feb 15, 2011

    Let's all go for a class action suit. They are holding my check for $21, o21.00 for inspection and it has been done for two weeks. they say they called the inspectors but I haven't heard from any of them.

    0 Votes
  • Vh
    V Hughes Dec 12, 2010

    I’ve had a home loan with CitiMortgage (CM) since 1999. Never a missed or late payment. Three years ago I had to go on Social Security disability. My income was reduce by 50% but I managed to stay current with my mortgage. About 18 months ago I contacted CM and explained my situation hoping that they could refinance my loan at a more favorable rate. I was at 7% and the payment was 60% of my income. I have about 60% equity in the property.

    The representative at CM told me they could look at modifying the loan which would reduce the rate to 2% and it would go up over a 5 year period and stay at 5%. I was told to start sending in a reduced payment amount of $260 (my original payment was $470) and they would send me information telling me what documents they needed. A company called Mortgage Services Organization (MSO) was handling the documentation process and once they received the necessary documents, would turn it over to CM. There seemed to be a lot of confusion in that they kept requesting the same documents and I would send them to different addresses.

    MSO finally notified me that they had everything they needed and where turning it over to CM. Now the whole process started all over again. CM was calling me, sending letters UPS, and having someone local leave messages on my door, requesting the same documents. I talked with CM on a regular bases explaining that I had already sent the information they requested but would send it again. I ask CM several times during this process If I should continue sending the reduced payment amount because I was now getting collection letters for the reduced amount and that my loan was delinquent. CM told me not to worry about it.

    This Modification process continued for a year and a half and I was now getting collection calls demanding the $3200 that was in arrears. I called CM customer service in the beginning of October and was informed the Modification was denied. When I ask why, CM said they tried to call in September four times to request documents (I already supplied) but got no answer. I ask what documents they needed and told her they should already have those. She looked through the files and said “yes I see them, I’ll turn this over for further review.” I also told her that I did not believe I received any calls from CM in September because I have an answering machine and always return calls from CM. I also told her that in the past CM would send a letter UPS or someone would stop by and leave a note to call CM. Two weeks later I called CM and was told the appeal was denied because to much time had elapsed. This wasn’t my fault. I always responded to any requested made by CM in a timely and professional manner.

    Now the collection department was sending the loan to foreclosure and I had until 12/5/2010 to pay the amount that had been reduced during the 18 months, which I did. Not only did I have to pay the reduced amount but CM is charging me some $367 in late fees and delinquency expenses. I am being charged late fees for doing what CitiMortgage told me to do.

    I called CM customer service and ask if there were any other options for lowering my rate. I explained my rate was at 7% and the going rate now is 4 1/2% and that I have been with CM for over 10 years and never had a late payment.

    The customer service rep gave me the number to the Refinance department to see about a traditional refinance. When I called that department I was told CM could not do a traditional refinance because the loan HAD BEEN delinquent. I told them it is no longer delinquent and the only reason it was is because I did exactly what CM told me to do.

    The problem with this situation is I have no recourse. CitiMortgage knows I can’t afford to hire an attorney to compel them to do what is right. When you call Customer Service you talk to message takers and you never get through to anyone who can actually make a decision or to anyone that wants to. It seems CM uses their rules and regulations to excuse inaction and indifference.

    V. Hughes

    0 Votes
  • Citimortgage outsources to a company called Assurant. Assurant has tremendous turnover, so it would be easy to get hold of an incompetent employee. My family refers to the company as a people mill. Put them in and grind them out. They reward the incompetent rearkissers. It is bot unusual for a Manager to know less than their employees. Those that point out issues handled by management are frequently hassled or are not promoted. They promise rewards/higher pay and fail to deliver. Lots of inept management with big ego's. The processing is typically handled by several people, so there is no ownership and leaves opportunities for lots of errors. The workforce education at this company on average is very poor. The management got extremely upset when I challenged some incorrect procedures and was written up for doing so. I greatly feel for anyone who has a loss and has to deal with Assurant (they will represent themselves as Citimortgage, but the address - 1 Assurant Way and people are from Assurant They also have a site in Duluth that handles claims). Isn't it great Citimortgage cannot handle the losses and they outsource it. (Assurant has also turned and outsourced work to a company in India - these people are paid far less than Americans and it takes jobs from our country. I have dealt first hand with the language barrier and have seen where they cannot differentiate between a last name and first name, let alone not understanding American lingo). I recommend tape recording conversations, as Assurant tapes your calls! Hopefully, someone can get Citimortgage and Assurant in a lawsuit for not handling their claim properly!! They should have random drug testing at Assurant. I have worked with Assurant Managers that handle Citimortgage and they were so inept. Many times they do not understand what Citimortgage wants, so you suffer. Take notes of all communication, record calls, and make copies of all docs provided - your docs could disappear and there is no accountability. The crappy management and their poor instructions could benefit you with a nice lawsuit, so document from the beginning whether it appears you are getting help or not. All above is fact.. here is a rumor.. the prior top person at Springfield Assurants HR program has a lawsuit for herself being improperly let go.. this person has been seen at a white's only club, as well as people in management and general positions. Bet you can't for these people to handle your claim. What a dumb decision of Citimortgage to outsource to Assurant! You can confirm you are dealing with Assurant when you call Citimortgage's Loss Draft dept and then ask them if this is also Assurant. Good luck

    0 Votes
  • Co
    cookie925 Aug 02, 2010

    i dealing with the same problem. and they have you expcuse my french by the balls nothing we ca do my basement flooded recieved the check from insureance co. Go to get it signed by citi and i have to fill all these papers out and they send half the money and inspect and then maybe send the rest. That is crazy. all i want to do is get my basement done and i feel like they think i pocket the money. its only 3400.00. so they send half well the carpet will be more than half. this is crazy what can i do. nothing right.

    0 Votes
  • Si
    singlemomofthree Apr 08, 2010

    Although I am terribly sorry so many of you have to experience such riduculoous nonsense, I feel relieved to know I AM NOT ALONE. With all the run around and back pedaling I've experienced when dealing with CitiMortgage, especially about my insurance claim, I thought clearly this must something personal the company's reps have with me.

    -1 Votes
  • Pr
    Property rep Mar 16, 2010

    I work for the Citimortgage Property Damages Dept and I'm going to tell you exactly how to get your check processed. DO NOT SEND CITIMORTGAGE A SIGNED CONTRACT, SIGNED ESTIMATE, OR ANYTHING SIGNED BY YOU AND A THIRD PARTY!!! There is an option called self contracting. It takes the least amount of time and can be processed faster. SAVE YOUR RECEIPTS WHEN YOU PAY SOMEONE!!! They will ask for them at the end of the claim. IF YOU HAVEN'T PAID YOUR MORTGAGE IN MONTHS OR YOU KNOW YOU ARE LATE WITH THE PAYMENT, DON'T ACT SURPRISED IF A BANK HOLDS MONEY!!! This is common sense folks. Alot of people have a legitimate complaint, but my best advice is to actually talk to the senior VP's about the procedures. The person u talk to on the phone can't change anything and neither can their manager. Most of us are just like u, very fustrated with the procedures and we try to voice our opinion, but they ignore us also.

    0 Votes
  • Jo
    josephf Feb 17, 2010

    Im about to go through this process I have a bad feeling about this. Aren't the insurance companies able to issue you a check and thats it ? My mortgage company has nothing to do with this . Im going to figure out who Im going to leave because of this situation. Im not under water with my home value I pay additional money towards my principal every month and now i have to go trough this.

    0 Votes
  • Dr
    drsnowduck Oct 29, 2009

    I have had a very similar experience and would gladly be involved in a class action lawsuit against CitiMortgage. I will be refinancing my mortgage as soon as possible.

    0 Votes
  • Br
    Break Up Citigroup 2 Oct 12, 2009

    Ok. I am registered. I got a supervisor to admit on the phone that they focus on your last contractor to try to stall payment. It has been about a month since their inspector said I was 75% complete and they refuse to release any funds. I got them what they wanted and surprise, surprise. They had "new requirements."

    Anyhow, I was thinking. We need a class action on this. Before I contact an attorney, I thought I would throw it out here. This is the math:
    100, 000.00
    $50, 000.00
    5, 000, 000, 000.00

    15% Int. 750, 000, 000.00
    2 mos 125, 000, 000.00

    If they jerk around 100, 000 people with an averge claim of $50, 000, and those people have to pay 15% credit card interst for 2 months to get their houses fixed, that is a damage of $125 Million dollars.

    Add in NSF charges, etc. while you are out $50, 000 in repairs and it is more. They guy who said they focus on the last contractors also said that they hear all the time about people getting sick from staying in damp houses waiting for repairs.

    So, what do people think? Granted the attornies would get most of the money. But the class action would send a message not to screw people who are suffering as it is. I know I have been suicidal for the 4 months my house has been out of service.

    0 Votes
  • Br
    Break Up Citigroup 2 Oct 12, 2009

    Test. My earlier post did not go through.

    0 Votes
  • Na
    Naanccy Sep 30, 2009

    I am dealing with State Farm for my replacement roof due to wind damage. They have been great. My mortgage is held by Chase, they have not been great. So many hoops to jump through since the roof was over 10K. Now mind you State Farm didn't balk at the fact that my roof was over 10K. They simply paid up, less my 1K deductible. Why the heck should Chase care.

    I had to pull 3 documents off the website, bother my roofer (who is waiting for the last part of his money) to fill out more forms and have them notarized. Is this any way to run a business?


    Nancy in CO

    0 Votes
  • Tx
    txdemjen Jul 10, 2009

    Having the same issue right now. We had severe storm damage that resulted in $46, 000 in damages. The work is 95% done and the inspector has signed off on it. We haven't even gotten the first 1/3 even though I sent all the appropriate paperwork and the check as soon as I got it from our insurance company. THEN the script-reading automaton from the call center told me the rest of the funds would be released once they got all the paid receipts from the contractors. "WHAT? That's what the money is FOR!" "We need you to show you paid them, " says robot person. "You got an extra $40K lying around, lady? If so, why don't you pay them for me and I promise to send you a check within 2 to 3 weeks. How's that sound?" "I'll have a manager call you, " is all she said. What the hell is the point of the inspector to verify the work is being done, then? I get that they need to make sure we're not taking the money and buying a boat or something stupid and that their collateral is safe, but that's been verified. Why do they purposely make this such a hassle?

    This is maddening. I have been a CitiMortgage holder (not by choice - it was sold to the ###) for over four years. Our mortgage is auto-drafted from our account every month, on time, never so much as a minute late. We are one of the few reliable customers but they don't care. Why should they? They're so big, one lousy little customer with a piddly $265, 000 mortgage means nothing to them and they don't have to do squat for us.

    So what do we do? We puny consumers are powerless. "Free market, " my ###.

    0 Votes
  • Di
    DIANA916 Jun 21, 2009

    Citimortgage is the worst ever, they lie and cheap you out of money, and won't help you if you need it. We have been trying to contact them about our mortgage payments and our income for about a year and they don't respond to phone call and letters. We are completely upside down in our home, have lived here for 9 years, have raised our kids and now raising a grandson here and they don't give a ### about anybody but their f'in money, and they they get it, whats owed them. According to obama they are suppose to help the people stay in their homes, by doing whatever it takes to help but, yeah, right! Them help, would be like a act of the good lord himself. They haven't even had my mortgage, but almost 4 years so they don't know anything about us or even care.

    0 Votes
  • Cm
    CMPD711 May 27, 2009

    I work for this CitiMortgage property damages and I am in charge of actually ordering the checks to get sent to the h/o. I agree that there is a bit of confusion within the customer service department. Usually they will tell you you are getting your money just to get you off of the phone. But if you are still having issues, I may be able to assist you further to ensure you get your monies sooner.

    1 Votes
  • Jo
    Joeymeehan Mar 31, 2009

    i called Citimortgage to ask about bringing me down from13% interest rate. I was told to bug off. When I requested the contact info for DAS I was told NO WAY.

    This company has the robber baron mentality and are ripping of US

    0 Votes
  • Te
    Teresa Lo0lo Mar 10, 2009

    I'm currently dealing with the same issue..Citimortgage SUCKS and so does there Reconveyance department. You can't get through to anyone and customer service doesn't have a number for that department either, whats up with that? I paid off a loan in 1987 and still have not received the proper documents tha show loan paid in full..I provided the Trustee Serve Corp. with every single documentation that I have that show and prove the loan was paid in full...Don't know why it never got reconveyed and I'm still fighting with them till this day!! My son who is an attorney with Johnson and sons is going to press charges against Citimortgage. Didn't want to go this route but they leave me and my family no choice...

    1 Votes
  • At
    Atljoe Feb 11, 2009

    All insurance functions for Citi and Chase are done by a third party company called Assurant. Both centers hire severely under qualified peolple. I know this for a fact, I know someone that had the displeasure of working in the Atlanta call center for Loss Draft. The company headquarters is located in Atlanta GA. Citi is handled in Springfield Ohio and Chase is done in Atlanta.

    0 Votes
  • De
    Deborah Jolly Feb 05, 2009

    Citi Mortgage Loss Draft Department

    I sent the 2nd check with supporting documentation and all necessary paperwork requesting a emergency request for release. It took over two months to get the check sent back to us.

    I was lied to by several Citi Mortgage employees for 3 weeks saying the check was cut and being federal expressed.

    I requested to speak to supervisors which no one call me and would not give me their number by the subordinate staff.

    The mortgage companies are not being fair on judging everyone by the ones that do not do the repairs.

    My property was inspected by the mortgage inspector to show the repairs were done.

    I have now sent my final supplemental check and I am totally 95% complete and hope this check will be endorsed and returned by federal express within no more than 2 weeks.

    Deborah Jolly
    22629 Kennedy Dr
    Galveston Tx 77554
    [protected]

    0 Votes
  • Mc
    MC1 Dec 29, 2008

    If your insurance company had the Mortgage Clause from CitiMortgage, you would have never had to contact them about the check. If your loan was sold to CitiMortgage, you'll need to get them the Mortgage Clause for insurance from CitiMortgage.

    1 Votes

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