Consumer complaint received 2016-04-18 00:00:00
Product: Mortgage — Other mortgage
Issue: Credit decision / Underwriting — 
Company: CITIBANK, N.A.
State: CA

Complaint narrative:
In XXXX, we originated a refinance with a company named XXXX XXXX XXXX XXXX. XXXX did not fund the loan. The reason for the refinance was not to get money out, but to get free from a predatory loan by XXXX home loans while we were in litigation. It cost us over {$70000.00} above our principle at that time to secure a refinance agreement. 

Immediately upon completion of the loan arrangement XXXX notified us that our loan had been " sold '' to CitiMortgage who would be our servicer. During this time we were in litigation with XXXX for their predatory lending practices for charges of fraud and XXXX counts of bad faith. 

At the end of XXXX, CitiMortgage called us and informed us that as a result of Obama 's bailout plan we qualified for a modification if we wanted to apply. Initially we declined, however as our legal fees mounted, and work slowed down, the next time they called we agreed to apply for a modification. 

In XXXX XXXX, in a XXXX call with XXXX XXXX, Myself and CitiMortgage customer service we were informed that we qualified for a modification and it would be XXXX 45 days until we received the packet in the mail. 

XXXX45 days passed with no packet arriving, each time we called, CitiMortgage informed us that it was in underwriting, or they were working it. We called again after three months to follow-up. We were informed that because we had not missed a payment our modification had been delayed. If we were in arrears our modification would be 'accelerated '. 

As the implication ( later confirmed in writing ) ( attached ) was that we needed to miss a payment to have our ( already qualified ) modification issued, we missed a payment in XXXX XXXX. 

We had a scheduled jury trial date for our lawsuit with XXXX scheduled for XXXX XXXX, XXXX. We called CitiMortgage at the XXXX, as we had not yet received our modification packet. They assured us that it was being completed and we would receive it by XXXX XXXX. We missed XXXX XXXX payment in anticipation of our loan modification packet with the new payment. 

By XXXX XXXX, we still had not received it. We called CitiMortgage in a panic and CitiMortgage assured us it was on it 's way to us. On XXXX XXXX, XXXX, a customer service employee called us to inform us that we would be receiving our packet soon. 

On XXXX XXXX, XXXX, we at long last, received a packet, ( attached ) however it was not a full modification, but a trial modification assuring us that if we made the 3-month trial payments we would be qualified for a full modification. CitiMortgage informed us that if they did not receive the payment by XXXX XXXX, XXXX they would withdraw the offer. We sent the payment XXXX overnight. 

CitiMortgage never intended to honor their modification with us. On XXXX XXXX, XXXX, they transferred servicing of the loan to XXXX who refused to honor the trial modification. 

In addition to this abusive behavior by the banks and servicers, the news and internet is filled with other ongoing abuse, so that we can anticipate what is coming. What the 'lender/servicer ' says does not coincide with what they do, and to date there is little to no recourse for the borrowers who have been set-up as " foam on the runway '' to foreclosure. 

When CitiMortgage did not honor the modification. I set out to find the owner of our note, hoping we could plead our case with whoever that 'trust ' was. What I discovered is that was no trust. 

I was informed by XXXX XXXX, from the CitiMortgage corporate office, that CitiMortgage had never put our 'loan ' in a trust. 

XXXX did not have their own funds to fund a loan. To date, CitiMortgage has not provided accounting to demonstrate that they funded the loan and in XXXX XXXX, we received a letter from XXXX XXXX XXXX informing us that our first loan was now with XXXX XXXX XXXX. ( attached )

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 explanation