One-Quarter Of Citi’s Private Loan Mods Redefault

An estimated one-quarter of loans modified through Citigroup’s private programs have redefaulted over the past two years, according to John Gerspach, the bank’s cfo.

  • 18 Jul 2011

An estimated one-quarter of loans modified through Citigroup’s private programs have redefaulted over the past two years, according to John Gerspach, the bank’s cfo. The redefault rate on modifications completed through the Department of Treasury’s Home Affordable Modification Program was better—less than 15%.

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1 Bank of America Merrill Lynch (BAML) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

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