Citi Hit With Class Action Over Mortgage Fee

Law360, New York (June 30, 2010, 1:02 PM EDT) -- A Long Island couple has filed a putative class action alleging that the fee CitiMortgage Inc. charges to prepare a satisfaction of mortgage is tantamount to extortion.

Robert and Elyse Rubin filed a complaint Monday in New York State Supreme Court on behalf of a class of property owners with Citi mortgages, accusing the lender of refusing to deem mortgage loans paid in full unless the borrowers shell out money for the extra preparation fee. The plaintiffs are bringing claims against Citi for unjust enrichment and...
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