AMLG continues to see a significant increase in demands from CitiMortgage, Inc. to correspondent lenders. A large majority of these demands appear to focus on second mortgages, which could mean that Citi is shifting its focus to lenders that sold second mortgages to Citi under the Correspondent Agreement Form 200 Loan Purchase Agreement. However, even with this recent uptick in repurchase activity, CitiMortgage has not filed any new lawsuits against correspondent lenders since early 2016. It is unclear whether this trend will continue but such activity can often signal that more litigation from CitiMortgage could be on the horizon.
If your company has received or is continuing to receive demands from CitiMortgage, Inc. or was recently named or threatened to be named in a lawsuit by CitiMortgage and would like to speak with us about how to address the claim, please feel free to contact Jack Valinoti or Tracy Henderson.