Company: CFG-PE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000759944-25-000108
Chunk: 249

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 249
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,504 46 31 1 68 4,650 1 Total retail67,861 530 207 182 647 69,427 335 Total$136,320 $769 $254 $196 $1,664 $139,203 $398 Guaranteed residential mortgages(1)$696 $119 $55 $172 $— $1,042 $— (1) Guaranteed residential mortgages represent loans fully or partially guaranteed by the FHA, VA, and USDA, and are included in the amounts presented for Residential mortgages. At June 30, 2025 and December 31, 2024, the Company had collateral-dependent residential mortgage and home equity loans totaling $410 million and $372 million, respectively, and collateral-dependent commercial loans totaling $287 million and $607 million, respectively.The amortized cost basis of mortgage loans collateralized by residential real estate for which formal foreclosure proceedings were in-process was $294 million and $295 million as of June 30, 2025 and December 31, 2024, respectively.Loan Modifications to Borrowers Experiencing Financial DifficultyThe Company offers loan modifications, characterized as FDMs, to retail and commercial borrowers experiencing financial difficulty as a result of its loss mitigation activities that may result in a payment delay, interest rate reduction, term extension, principal forgiveness, or combination thereof. Payment delays consist of modifications that result in a delay of contractual amounts due greater than three months over a rolling 12-month period. Term extensions consist of modifications that result in an extension of the contractual maturity date greater than three months or a significant deferral of principal payments relative to the total outstanding principal balance of the loan.

Citizens Financial Group, Inc. | 53

Commercial loan modifications are offered on a case-by-case basis and generally include a payment delay, term extension and/or interest rate reduction. The Company does not typically offer principal forgiveness for commercial loans. Retail loan modifications are offered through structured loan modification programs, which are summarized below.•Forbearance programs provide borrowers experiencing some form of hardship a period of time during which their contractual payment obligations are suspended, resulting in a payment delay and/or term extension.•Other repayment plans are offered due to hardship and include an interest rate reduction and/or term extension designed to enable the borrower to return the loan to current status in an expeditious manner.•Settlement agreements may be executed with borrowers experiencing a long-term