In a preliminary review of its third quarter foreclosure prevention data in the Florida housing market, Citigroup Inc. (C) announced its activities in the Sunshine State successfully helped distressed homeowners avoid potential foreclosure at nearly three times the rate of a year ago. New third quarter data shows that Citi's loss mitigation successes in the state outnumbered foreclosures completed by a ratio of almost 16 to one compared to almost six to one in the third quarter of 2008. Citi manages a $750 billion mortgage portfolio of loans it owns or services.
Since the beginning of the mortgage crisis in early 2007, Citi has helped about 715,000 distressed homeowners across the country with underlying mortgages of nearly $79 billion avoid potential foreclosure and stay in their homes.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.