CitiMortgage, Inc. Increasing Repurchase Demand Activity, Especially for Second Liens

On behalf of several of its clients, AMLG has been defending against more and more repurchase demands from CitiMortgage, Inc. (“Citi”), the focus of which have largely been for Second Lien loans. While Citi has not filed a new lawsuit against a correspondent lender in the Eastern District of Missouri since February 2016, this flurry of new activity from Citi suggests it could be gearing up for a new round of lawsuits and, given the increase in demands that AMLG is handling, we are continuing to monitor the docket on behalf of our clients. In addition, new demands, AMLG continues to assist its clients with numerous demands legacy demands that Citi continues to pursue, including demands issued as many as seven or more years ago. While AMLG maintains that such demands would be barred by the applicable statute of limitations in Missouri, Citi has not backed down.

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.