The banks that released their third quarter earnings reports all saw year-over-year declines in profits, but a couple of them fared better in mortgage banking.
Read More »Citigroup Starts to Show Distressed Consumers the Money
The bank has until 2018 to pay the remaining $1.8 billion in consumer relief under the terms of the settlement.
Read More »Citigroup Posts Best Yearly Income Since 2006; Wells Fargo Holds Steady
While the approaching date of December 25, 2015, meant it was beginning to look a lot like Christmas for many, for Citigroup it was beginning to look like the pre-crisis year of 2006.
Read More »Citigroup Plans to Issue $421 Million Securitization Bundle
This bundle of loans, CMLT 2015-PS1, is the third securitization issued by Citigroup in 2015 and comes with an unpaid principal balance (UPB) of $421 million.
Read More »Citigroup, U.S. Bancorp Profitable in Q3 While Goldman Sachs Net Revenues are Down
Citigroup reported $4.3 billion in net income for the third quarter, or $1.35 per diluted share, up 53 percent from $2.8 billion, or $0.88 per share, in the same quarter a year ago. The bank also has revenues that reached $18.7 billion, down from $19.7 billion last year.
Read More »Monitor Credits Citi With $162 Million Toward Settlement Obligation
Citigroup earned credit for $162.7 million in consumer relief toward fulfilling its $2.5 billion obligation under the terms of a July 2014 settlement with the U.S. Department of Justice and five states for selling toxic residential mortgage-backed securities to investors before the financial crisis, according to a report from the settlement monitor released Thursday.
Read More »Circuit Court Revives Predatory Mortgage Lending Suits Against Three Large Banks
The lawsuit, originally introduced to a lower court by the City of Miami on December 13, 2011, alleged that each bank in question had participated in a decade-long pattern of discriminatory lending by targeting blacks and Hispanics for predatory loans.
Read More »Citi and Goldman Sachs Report Substantial Year-Over-Year Growth in Q2
The net income high at Goldman Sachs is mostly credited to the record first half results in Investment Banking and Investment Management. Net revenues for investment banking reached $2.02 billion for Q2, a 13 percent increase from Q2 2014 and 6 percent higher than Q1 2015.
Read More »Lawmaker Calls for Further Examination of Servicers in 2013 Foreclosure Settlement
The letter was prompted by news reports that surfaced earlier this month stating that Citigroup, one of the servicers named in the settlement, had missed paying some 24,000 borrowers who were owed money from the settlement. Waters sent her letter on Friday to Fed Inspector General Mark Bialek and Treasury Inspector General Eric Thorson asking them to perform further examinations to see if other borrowers were missed.
Read More »Report: Citigroup Preparing to Pay $20 Million to Overlooked Victims of Foreclosure Violations
Citigroup is preparing to pay approximately $20 million to thousands of homeowners who were eligible to receive compensation as part of the Independent Foreclosure Settlement reached between the government and 10 mortgage servicers two years ago over loan servicing and foreclosure procedure violations, according to media reports.
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