Citi Statement on the Obama Administration’s ‘Make Home Affordable’ Loan Modification Program

Citi believes the approach to loan modifications under the Administration's Homeowner Affordability and Stability Plan will help keep borrowers in their homes, forestall foreclosures and stabilize communities around the country. We are also confident that this new approach will streamline servicers' ability to make loan modifications more effectively and efficiently.

Throughout the housing crisis Citi has worked diligently with key stakeholders to seek solutions to help keep borrowers in their homes. Our Citi Homeowner Assistance program and our newly launched Homeowner Unemployment Assist program are two examples. And our foreclosure prevention efforts are working -- Citi's most recent Mortgage Data report shows that our foreclosure prevention actions helped keep distressed borrowers in their homes at a rate of approximately 6-to-1 in the fourth quarter of 2008.

We look forward to continuing to work with the Administration, regulators, the industry, and other stakeholders to implement the Homeowner Affordability and Stability Plan and other innovative and effective solutions to keep Americans in their homes. In the meantime, we continue to encourage our customers in need of assistance to reach out to us by calling 1-800-283-7918 or visiting www.citimortgage.com.

About Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.