Citibank 2012 Annual Report Download - page 118

96
Representations and Warranty Claims by Claimant
The following table sets forth the original principal balance of representation and warranty claims by claimant, as well as the original principal balance of
unresolved claims by claimant, for each of the quarterly periods below:
Claims during the three months ended
In millions of dollars December 31, 2012 September 30, 2012 June 30, 2012 March 31, 2012 December 31, 2011
GSEs and others (1) $ 769 $ 863 $ 860 $ 755 $ 699
Private-label securitizations 294 3 626 536 13
Mortgage insurers (2) 18 21 90 23 35
Total $1,081 $ 887 $1,576 $1,314 $ 747
Unresolved claims at
In millions of dollars December 31, 2012 September 30, 2012 June 30, 2012 March 31, 2012 December 31, 2011
GSEs and others (1) $1,224 $1,371 $1,263 $1,222 $1,270
Private-label securitizations 1,717 1,423 1,422 797 266
Mortgage insurers (2) 5 4 15 8 15
Total $2,946 $2,798 $2,700 $2,027 $1,551
(1) Predominantly related to claims from the GSEs.
(2) Represents the insurer’s rejection of a claim for loss reimbursement that has yet to be resolved and includes only GSE whole loan activity. To the extent that mortgage insurance will not cover the claim on a loan, Citi
may have to make the GSE whole. Failure to collect from mortgage insurers is considered in determining the repurchase reserve. Citi does not believe the inability to collect reimbursement from mortgage insurers is
likely to have a material impact on its repurchase reserve.
For additional information regarding Citi’s potential mortgage repurchase
liability, see Notes 27 and 28 to the Consolidated Financial Statements below.