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And unlike JPMorgan Chase, Citigroup did not book a large upfront charge to reflect the higher operating costs required to meet the new servicing requirements outlined in a regulatory enforcement order issued last week.
The first set of new servicing standards were mostly ignored by the industry, housing advocates said.
When the lending market dried up, so did new servicing contracts.
The banks have until Oct. 2 to implement all of the new "servicing" requirements, and Smith's first report to the federal court overseeing the settlement won't come until April of 2013.
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New services lead to new complaints.
Facebook reacted cautiously to the new service.
The new service is still failing.
Would you use the new service?
This would be a new service.
The union also led to new services.
The new service is free.
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CEO of Professional Science Editing for Scientists @ prosciediting.com