Citimortgage Faces the Headwinds

It looks like home prices are gonna be under pressure for the next couple of quarters,says Sanjiv Das of Citimortgage,but he's cautiously optimistic with all the government programs aiding homeowners.We've really been out there trying to help,but face headwinds such as unemployment and homeowners owing more than their homes are worth,Mr.Das explained.We are massively increasing the number of modifications;we are reducing rates and extending the terms.
For Q3,we did substantially better than the industry,Mr.Das held.I can't fight the headwind of unemployment,he admitted.The thing here is to keep aggressively modifying as many loans as we can to keep people in their homes.In Q3,we processed 175,000 mortgages.The modifications are tailored to individual circumstances,Rajiv Das pointed out.The U.S. government is scrutinizing whether the banks are helping enough homeowners with its aid.