The good news is that a seven-year-old consent order against Citigroup Inc. has been terminated. The bad news is that a subsidiary was hit with a fine over its handling of mortgage documents.
In 2011, a consent order was issued against Citi and subsidiary CitiFinancial Inc. requiring the firms to take steps to address mortgage servicing deficiencies.
In the second half of 2014, Citi began taking steps to get CitiFinancial out of the mortgage servicing business. The following year, as part of the exit, lost note affidavits were executed.
Source: Mortgage Daily
