Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #12179639
Complaint Overview
Complaint ID: 12179639
Company: Citibank, N.A.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
Sub-Issue: Delays in the application process
State: Washington
ZIP Code: 98052
Date Received: 2025-02-22T12:00:00-05:00
Date Sent to Company: 2025-02-22T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
XXXX XXXX Citi Bank XXXX XXXX XXXX and XXXX XXXX. I applied for a home mortgage loan with Citi Bank in XX/XX/XXXX2024 to purchase a property with a closing date set for XXXX/XXXX/2024. From the beginning of the process, I emphasized the importance of meeting the closing deadline, as the purchase contract clearly stated that any delay caused by the buyer would result in a penalty of {$900.00} per day. Despite my continuous efforts to expedite the process, Citi Banks mismanagement and lack of communication caused a three-day delay, resulting in a penalty fee of {$2700.00}, which I was forced to pay. Timeline of Events and Citi Banks Failures XXXX. Early Communication & My Proactive Efforts On Day XXXX of the loan process, I informed Citi Banks loan XXXX of the XX/XX/XXXX closing deadline and emphasized the need for buffer time due to the holiday season. I promptly submitted all requested documents and responded to requests within hours to avoid delays. XXXX. Lack of Backup Coverage for the XXXX XXXX The assigned loan XXXX, did not inform me that she would be on vacation during the critical closing period. She failed to designate a backup contact, leaving me unable to escalate issues or get timely updates. During her absence, I had no access to a Citi representative who could provide clarity or assistance. XXXX. Incompetence of the XXXX XXXX The loan processor repeatedly requested unclear or unexplained documentation, leading to unnecessary delays. XXXX. Last-Minute, Uncommunicated Requirements On the XX/XX/XXXX closing date, I was suddenly required to provide a Citi checking XXXX savings account, a requirement that had never been mentioned before. I had repeatedly asked in advance if there were any outstanding requirements, but neither loan XXXX nor processor informed me of this necessity. Financial Impact and Request for Resolution : Due to these failures on Citi Banks part, my home purchase closing was delayed by XXXX days, and I was charged a penalty fee of {$2700.00} by the seller. The delays were entirely avoidable had Citi Bank properly managed the process. I am requesting Citi Bank to reimburse me for the {$2700.00} penalty fee and take corrective action to ensure future customers do not experience similar issues. I have already attempted to resolve this issue directly with Citi Bank, but I have not received a satisfactory response. I am now seeking CFPBs assistance in holding Citi Bank accountable for their failure to fulfill their obligations in a timely manner. Thank you for reviewing my complaint. I appreciate your help in resolving this matter.
Frequently Asked Questions
What is Complaint #12179639 about?
Complaint #12179639 was filed against Citibank, N.A. regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2025-02-22T12:00:00-05:00.
How did Citibank, N.A. respond to this complaint?
The company responded with: "Closed with monetary relief". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Citibank, N.A.?
Yes, visit the Citibank, N.A. company profile at readthecomplaint.com/company/citibank-n-a to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.