Consumer complaint received 2016-04-25
Company: CITIBANK, N.A.
State: GA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
In XXXX 2016, I contacted CitiMortgage on behalf of my father about recasting his current mortgage. I was told ALL that was needed was an additional principal payment of {$5000.00} and a request. On XXXX XXXX I wired the additional payment of {$5000.00} and overnighted the request using their instructions from their XXXX letter. I wanted to get a status of the request so I called CitiMortgage. After being transferred many times, I spoke to an agent that told me there needed to be a work order request to have the Recast started. I explained that was NOT told to me nor was it in the letter that was received from CitiMortgage. The {$5000.00} was allocated as follows : {$4500.00} was applied to the XXXX payment and {$460.00} was added as a principal payment. I explained the need to Recast the loan was to help my father meet ALL his monthly financial obligations. So again on XXXX XXXX I wired {$5000.00}, faxed the request and called to ensure all was received. On XXXX XXXX I was told funds were received and the Recast would proceed. On XXXX XXXX I called to get another status and was told that payment was again applied as XXXX monthly payment. I was completely frustrated!! I instructed XXXX ( the agent ) to remove the funds and apply to the principal so the Recast could get started. He assured me he would remove the funds and he contacted the Special Loans department and asked them to start the Recast process. He also took my cell number and told me he would call me back within 2 days to provide me a status on the Recast request. On XXXX XXXX I called to get a status on the Recast and was told in order for the request to be process the current mortgage amount of {$4500.00} had to be received BEFORE the Recast could be started. I was completely frustrated with CitiMortgage and explained the letter stated, " When we received the additional principal payment and our written request, we will apply the funds to your account. We will calculate your new principal and interest payment amount and mail you a Recast Modification Agreement for our review and signature, which must also be witnessed and notarized. They asked us to Please mail the executed Recast Modification Agreement to the address listed above. '' I explained their information about the work order and the monthly payment was NOT in either letter we received from CitiMortgage about a Recast. Again I explained the original loan amount was over {$790000.00} as of XXXX 2016 the balance of the loan is {$160000.00}. On XXXX XXXX I contacted CitiMortgage about moving the current month mortgage to the back of the loan and was told the investors for this mortgage would NOT allow such a request. I asked for that in writing and was told they did not have it. I also asked for guidelines and procedures for handling an Investors account with CitiMortgage and was told they did n't have anything written and could not provide me anything in writing. It has been 3 months trying to get a Recast Modification processed at CitiMortgage and I 'm completely frustrated because they are not providing clear and fair practices. The information that has been given has been inconsistent for the last 3 months and I need answers and a Recast processed NOW.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with non-monetary relief