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Citi Mortgage / refinance

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I started my refinance at the beginning of Dec. Citi charged my Credit Card on 12/16 for $480.00 to lock rates after a pre-approval. We keep getting the run-around every time our file goes to underwriting with not being able to close because they need to have someone inspect something or something else needs fixed or they need some other Document! In other words I have good credit but they keep stalling for more time! They have made me feel like I live in a dump and have ruined the Holidays and here we are passed Valentines Day and I still have no answers...however they have my money! They are making us fix things that were fine when we bought the house 6 years ago. Sometimes we have gone weeks without having emails answered or any phone calls and in the mean times I have spent thousands on the house trying to please them and it is all for nothing.


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A  20th of Feb, 2009 by 
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I had ABN AMRO and was converted to CITI. I just tried to refinance with CITI, 2-20-2009 and was told to contact 2 other lenders. I told them I wanted to stay with CITI, but was told due to the volume of refinancing they could not help me. I was trying to give them to my money and they couldn't help me. Their loss.
A  25th of Jun, 2009 by 
Agree Disagree 0 Votes
We to have had nothing but stalls and run arounds for the past 3 months, the only thing that took place in a timely fashion was the billing of $505.00 for the application fee to refinance our mortgage. Before I paid the fee I asked him if he thought there would be any problems with what we wanted to do and he told me "everything looks great and there should be no problem". We were looking to refinance our existing mortgage of $120, 000. from 6.8% down to 4.875 and take out an extra $70, 000. I told my Mortgage rep. that we had a HELOC loan of $50, 000. @ 4% with First horizon and I was not going to satisfy that at this time, we were going to put an addition on the house. I told Mr. Hammoud that in better times the house appraised for about $305, 000. but recently home prices have come down at least $25, 000 and he reassured me that it should not be a problem. So I filed an Application over the phone (I was not very comfortable doing it that way) I gave all the pertinant info, including the name of the Bank where my wife and I do all of our banking. I told Mr. Hammoud that I did not have all the account #s in front of me and that maybe he should mail me an application, to which he replied " I can get that from the Bank". The application was completed and he told me that an appraisal would be ordered and perfomed within the next couple of weeks and I should be receiving a copy of the application along with the papers that had to be signed. within a few weeks the chuckle head from Guerrera Appraisals came and appraised the house for the bank and at about the same time the paperwork came. I have to tell you the application had 1/3 of the info wrong and 1/3 of the info missing. The Yrs at residence, work addresses, birthdates, ph.#s, and the fixed assets were missing 2 Savings Accts. totaling $62, 000, My 401K acct.with $25, 000 and my wifes 401k acct of $12, 000. I left a message with the mortgage supervisor and told him the application was No Good and he needed to send me another one he called back a day later and left a messge saying "how we could do this several ways via the fax, phone or we could mail you one, give me a call back and tell me what you want to do". I thought I made myself clear the first time so I called again and said "CAN YOU PLEASE MAIL ME, FED EX ME or SEND ONE VIA CARRIER PIDGEON A NEW BLANK APPLICATION TO FILL OUT. The douche calls me back and asks " If I would like him to FAX me an applicaion??. At this point I am so frustrated that I say OK so I give him my wifes FAX #. I call my wife and tell her to expect a FAX, it never comes, I cant call him back because its Friday after 5:00 PM so I call on monday and get my rep this time, I explain the whole thing and he asks me to verbally fill-in the blanks and fix the mistakes so he can "keep moving foward" I do this and he says he will send me a new application that will be added to my file, that never happend!!!.I get a phone call from a girl from Shiti-mortgage 4 1/2 weeks ago telling me my house appraised for $282, 000. and the application is going to the underwriter, I tell her it cant and explain the whole story again she tells me that it should not make a difference, HOW CAN $100, 000. IN ASSETS NOT MATTER ??.I call my rep and he said the same thing, could this be true ?? it doesnt matter if you have $62, 000 in cash in the bank or $00000 and no savings!!!. I dont push it any further and 1week later I get a call from the same girl telling me ther was a mix up and my house appraised at $240, 000. HOLY @&%* you gotta be kidding me I say and she says dont worry it shouldnt matter, NOW I REALLY START TO WORRY she tells me again that it is in underwriting ang everything looks good. Another 2 weeks goes by and I get another phone call from the same girl and she says Mr. Weiss ther was a mix up and your house did not appraise for $282, 000 it appraised for $240, 000, I told her "you already told me this 2 weeks ago" Oh she replied but now its in underwriting "oh" she replied again "you should be hearing from us within a week". Two 1/2 weeks later my rep calls "HEY HOW YOU DOIN HAS ANYONE CALLED YOU IN REFERENCE TO THE REFINANCE" ? NO I SAY "OH" OH WHAT OH ? "IM SORRY BUT THE HOUSE APPRAISED LOW AND WE CAN ONLY REFINANCE AND MAYBE SATISFY THE HELOC", These ###s screwed up from day one telling me everything was fine dont worry dont worry I know now that its all a process scam multiplied hunreds of thousands of times and the scam is fed by the $500.00 application fees. Nothing mattered because they were not going to give me the loan from day one they submitted an application with wrong and missing info the only Bank account listed was a checking acct. they never mailed me an application to fill out and SIGN and they never not once even asked for a pay stub or bank statement. They are only concerned with scaming money from the Govt and us tax payers so they can feed the applications to the guy with the stamp that say denied, i must sound bitter but I WAS THE ONLY ONE THAT RAISED ANY CONCERN DURING THE PROCESS THEY DID NOTHING.
A  2nd of Jul, 2009 by 
Agree Disagree 0 Votes
We had a similar event, refinancing application was locked in at 4.875. We originally bought the house through citimortgage only 1o months before at a higher rate (6%) so we knew that the process should be quick if we are qualified. Our agent sent us a 60 day rate-lock and we sent out all the info within 48 hours. The loan was about to be closed and then they fired our loan agent. The next thing that happened was that citimortgage gave our case to another agent. I don't know if she did not want to help because she did not secure the loan in the first place so she was not making a commission, or because the rates have gone up to about 5.75 in the meantime... She would not answer phone calls or emails until about one week before the rate-lock deadline. Then she said that our credit is "masked" but would not tell us what this means, and actually suggested it may be frozen. We called all credit bureaus (she did not tell us which one) and all said that our reports are fine, not frozen and completely normal. Finally this lady tells us that the social security numbers are not fully transperent on our report. We call the bureaus again, and they say that this is done to all credit reports now a days to protect customers and comply with local law. We relay this back to Citimortgage, and 2 days before the rate-lock expires they ask us to fill a form that takes weeks to process. We ask for an extension as none of this is our fault, and it is granted for three more weeks. After only one week passes (2 weeks still remain) we are told that the loan is no longer valid (interest rates are 5.75, we locked at 4.875, makes you wonder, huh?). Now we are going to go all out to get these guys to comply. We really want to know if anyone else here had the same case, as we are considering legal options. Please let us know by replying to this thread or emailing me at:

N  3rd of Sep, 2009 by 
Agree Disagree 0 Votes
Sounds almost the same as my story. Paid$ 480 in 4-2009 and kept having them loose docs. I sent them again and again. It's 9- 2009 and when they were ready to close they found some texas law that would let them charge 1 point more than they said . And they said they were unaware of it when we sealed the bargain.I asked them the bottom line amount I was going to pay before I allowed them to run my credit card. The extra point is for taking "cash out" on my last refi. He asked me that before he gave me the bottom line. I told them that and asked if they could wave the extra point or refund my money. HE SAID NO, BUT HE COULD TAKE 200.00 OF THE POINT. Need to know who to complain to. Congressman or whoever to get something done. Did they get bail-out money so they could keep screwing the taxpayers??????????????????????????????
A  11th of Sep, 2009 by 
Agree Disagree 0 Votes
I have been trying to refinance since May 2009 and it is now September 2009. My summer was also spent sending them documents that were previously lost, paying more fees, listening to lame excuses and "not my job" lingo. My application fee was $450.00. Everyone in this blog has a different amount.?? This is a scam. I was supposed to finally close in 2 days only to have something else go wrong that I will deal with on the next business day. Now they say I need $3000 more at closing for something that was never quoted to me before. I would also like to complain to someone. Scam, Scam, Scam...
A  18th of Sep, 2009 by 
Agree Disagree 0 Votes
What a scam!! I applied over the phone to refinance and was told everything looked good, our credit was good, etc. Since appraisers are now chosen randomly to decrease potential for over appraisals, we got a young woman who must not have known the area because she appraised us so low my heart came to a stop when I saw it. We tried to appeal it based on an appraisal from a year earlier that was $75, 000 more, but we were ignored. We then received a denial letter stating that our appraisal is too low and our credit isn't good enough! What? Our credit is fine. I began to wonder why they would want to refinance us when we pay every month ON TIME and we pay a high interest rate! I am beginning to think the only ones who are getting deals now are the ones who are heading into foreclosure and have not been paying their mortgage at all!
A  6th of Oct, 2009 by 
Agree Disagree 0 Votes
Welcome to my world. Citi Mortgage (CitiMortgage) has had our loan for more than 9 years, and we've never been late on a single payment. We've been getting the refi run-around for well more than 3 months. If it weren't for already paying them, their waiving of some closing fees, and a good appraisal, I would have dumped these S.O.B.s long ago! Shame on you, Citimortgage, Citibank, and Citicorp!!
A  7th of Oct, 2009 by 
Agree Disagree 0 Votes
I am going through a refinancing process with CitiMortage through a mortgage broker to get a lower rate. Our credit is excellent, we have equity on the house that's 2 times more than the mortgage refinancing amount. All in all we pose no financial risk to any banks or lenders and they are giving us hell. Everyday there is a different document they ask for. Our rate lock expires in 3 days and they haven't schedule a closing date although they approved our mortgage 10 days ago. I agee, we as taxpayers should demand that these incompetent SOB pay back every cent of the bail out money that comes from your and my paychecks.
A  23rd of Oct, 2009 by 
Agree Disagree 0 Votes
Same problem Citi is totally screwing us around with our refi. Going on 90 plus days now. Just called again today to the customer service line (because our loan rep never answers or replies to my email except to say its still in underwriting) they tell me finally that and underwriter has reviewed our loan and we are going to have to drop $4, 300 to refinance due to our appraisal not being 80% of our loan amount. This is complete BS. Originally I was told they only needed a exterior appraisal. Of course this changed at some point so we set up an appointment to have an appraiser come out to have him call the next day and tell me our appraisal had been cancelled. Call Citi on Monday to ask what is going on and of course no one knows why and blame it on the appraiser. Citi then sets us up with a new appraiser to come out different than the man we have used in the past. He is in and out of our house in less than 15 minutes. I know the value of homes has dropped in the last year but he appraised our home for more than $30, 000 less than in Sept of 2008. They have put us off so long I could have gone with the company I used last time to refi took 2 weeks paid a bit more but what I have paid extra in our higher mortgage amount would have already made up for the extra fee. They put you off cause they dont really want you to get that better rate they want that higher payment from you. The only ones that are getting the service there are not their current customers they are only interested in bringing in new clients that they can screw over. I want to report this problem so others know. Just not sure who to report it to other than emailing our local television station. Just got a call from a supervisor with Citi and the reason our refi came back so low is due to the comparables that the appraiser used when appraising our home meaning the other homes he also looked at and what they sold for brought the value of our home down. What the, the houses he compaired ours to were 500 sq feet smaller and over 10 years older than our home. So if I want to contest it I have to come up with some comparables on my own. I have to do this all on my own and submit it, now how much you wanna bet they will still deny the comparables I send in. So frustraiting!
A  26th of Dec, 2009 by 
Agree Disagree 0 Votes
You all are correct, this is a scam. I too currently have Citimortgage, theyhave been holding my loan for over two years and decided to refinance with them. My credit report averaged around 800 and my income was more than sufficient. And on top of that the house appraised at more than two times the loan request amount in Oct 2009. I got the same run around and poor customer service, Talk about no risk, I agree with all the others if you are trying to be smart about your finances and do the right thing by dropping the PMI cost and lowering you interest rate CitMortgage has no problem taking your appraisal money and making money on that transaction. If CitiMortgage does not make good on this Refinance I will be cutting up my credit card with them and telling others to ditch them fast, also I encourage all of you to file complaints with your State Attorney Generals Office.
A  21st of Jan, 2011 by 
Agree Disagree 0 Votes
Same problem here. Had my mortgage with them for eight years or so and decided to refi. Only asking to finance less than 1/2 of appraised value and they are dragging us through the mud. Close to saying "K...M.A.." but it pisses me off that they took my money and it appears they don't want customers with 750 to 800 credit scores. DO NOT USE THESE PEOPLE FOR A LOAN, YOU WILL GET THE RUN-AROUND AND MOST LIKELY SCREWED.
N  17th of Jul, 2012 by 
Agree Disagree 0 Votes
We have our current mortgage with Citmortgage. I called about refinancing. They sent all the paperwork then we decided not to go forward. The paperwork clearly stated if they did not hear from us by July 11th, 2012, they would not proceed any further with the loan. On July 13th, I got a call from a local appraiser saying she wanted to set up an appointment. I told her we decided not to refinance. She said she would notify the powers that be. That same day we get an email from the loan processor needing more documentation. I emailed her back and copied the man I orginally spoke to on the phone and told them we were not proceeding. I found out today that on that same day, July 13, 2012, they charged my credit card $470.50. Now we will have to try and play the game you all are playing and get that charge removed. Wish I had seen this page before I called Citimortgage. Has anyone had any luck in getting the credit card charges removed?
A  23rd of Aug, 2012 by 
Agree Disagree 0 Votes
we have our property threw citimortgage and i got sick and had to retire so we lost my income, so we couldnt make our payments and their wanting to see us in court.they gave us the run around and we faxed paperwork and paperwork but it was always not enough so now thier wanting it.
A  23rd of Aug, 2012 by 
Agree Disagree 0 Votes
citimortgage needs some good lawer to go in and file one hell a suit because they are screwing people royally and our goverment is letting them get away with it.

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