This is what I saw someone post on another forum, not sure if it is real:
Citi exits California lending..
BIG DECISION THAT IS NOT EASILY REVERSED.
Citi Home Equity
Broker Lending
Urgent Policy Notification:
California Purchase Money Business
Effective Wednesday, October 31st 2007 Citi Home Equity will discontinue lending on
all Purchase Money transactions for properties in California.
Impact to pipeline applications:
• California Purchase Money applications that have received Conditional
Approval or Final Approval will be honored.
• California Purchase Money applications that have not received any level of
approval and are in process will be declined.
• Operations will actively work the list of impacted applications.
All other policies will continue to apply.
Note: Until our website is updated, brokers will have the ability to
applications for Purchase Money transactions in California. These applications will
be declined.
This Policy only affects applications where the subject property state isCalifornia.
Rates, Program Card or additional information: Use our Fax on Demand Service at 1-877-346-0274 or visit us online at
www.citihomeequity.com or call Customer Service 1-888-OUR-CITI1 (888-687-2484).
1 Calls are randomly monitored and recorded to ensure service quality
This information is for Broker use only and it is subject to change without notice. Do not distribute to consumers. Member
FDIC © 2007 Citibank, NA, an equal housing lender, is a member of Citigroup. Citi, Citi with the arc design are registered
service marks of Citigroup, Inc. Citibank, 1000 Technology Drive, OFallon, Missouri 63368-2240.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
