Citi imposing moratorium on some foreclosures
NEW YORK ― Citigroup says it is imposing a moratorium on most foreclosures as part of a series of initiatives aimed at helping at-risk borrowers in states including Michigan remain in their homes - making Citi the latest big bank to announce sweeping efforts to try to curtail losses from souring mortgages.
Citigroup is assessing around 14,000 foreclosure cases for potential errors, The Wall Street Journal reports.