CitiMortgage managing director written testimony: CitiMortgage reviewing 14,000 foreclosure affidavits

CitiMortgage is reviewing about 14,000 foreclosure affidavits, including 4,000 that may have been signed outside the presence of a notary, said Harold Lewis, managing director of CitiMortgage, in written testimony to a congressional committee looking into the nation's foreclosure crisis.


Of the 14,000 affidavits, Lewis said about 10,000 were executed in pending judicial foreclosures initiated prior to February 2010. The review is under way "to assure that these affidavits are substantively correct and properly executed. Citi expects that affidavits executed prior to the fall of 2009 will need to be refiled."

Separately, Citi is reviewing another 4,000 pending foreclosure affidavits in judicial states that were executed at its Dallas processing center “and may not have been signed in the presence of a notary, to assure that these affidavits are substantively correct and properly executed. Citi expects that it will refile these affidavits.”

Lewis filed his written testimony in advance of Thursday's House Financial Services Committee hearing where congressmen will focus on the nation's foreclosure crisis. He and other major lenders are expected to appear before the committee.

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