Citigroup ups mortgage mod staff

Citigroup said it has hired 1,400 employees for its mortgage business over the past few months to meet the Obama administration’s mortgage modification goals. The company has also invested in additional telephone lines and infrastructure to process mortgage modifications. The company already had about 2,600 employees dedicated to dealing with late mortgage payments, said Sanjiv Das, CEO of CitiMortgage. The division now has a staff of about 10,000, the same level it was at last year before several rounds of job cuts. Banks in the federal Troubled Asset Relief Program, including Citigroup, are required to participate in the government’s Home Affordable Modification Program.

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