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HPS Investment Partners Acquires Citadel Servicing Corporation Non-QM specialist Citadel Servicing Corporation (CSC) has announced that the company has been purchased by funds controlled by HPS Investment Partners LLC. HPS is a global investment firm that specializes in creative capital solutions and manages strategies across capital structures. HPS was founded in 2007 and has $61 billion in assets under management as of January 2020. “We are excited that HPS has purchased CSC,” said new CSC Chief Executive Officer Kyle Gunderlock.…

Citadel drops rates across the board

  • Tuesday, 04 February 2020 10:48
Citadel drops rates across the board Citadel Servicing Corporation has dropped rates by 50 basis points across all product lines and programs, the company has announced. The company has also made extreme changes to its One Month Bank Statement (OMBS) program, which allows borrowers to qualify for loan amounts of up to $7.5 million by providing their most current bank statement. CSC is the only company in the industry to provide such a program, it said. Kyle Gunderlock, president and…
The non-QM proliferation: Other alternative products Citadel Servicing Corporation (CSC) has announced the launch of a commercial property lending program. The product segment is being added to CSC’s Outside Dodd-Frank Plus program. The program is designed specifically for commercial property investors and owners. It offers lending options for properties of five to 100 units, and covers a range of property units, including light industrial, retail, office space, multifamily, storage facilities, strip malls, schools, daycare centers, and hospitality properties. “We are…
Citadel Launches New Commercial Program for Non-Residential Properties Citadel Servicing Corporation (CSC) has announced the launch of its new Commercial Property lending program, being added to Citadel’s Outside Dodd-Frank Plus program. The Commercial Property lending program is designed specifically for commercial property investors and owners, offering lending options for properties of five to 100 units. The Commercial Property lending program covers a range of property uses, including light industrial, retail, office space, multi-family, storage facilities, strip malls, schools, daycare centers…

Citadel Launches Online Payment Portal

  • Tuesday, 24 September 2019 10:21
Citadel Launches Online Payment Portal Citadel Servicing Corporation has announced the launch of its new online Payment Portal. This new, mobile-optimized payment solution simplifies the user experience by enabling secure payments of customers mortgages online 24/7. The Payment Portal was designed to keep pace with changing social habits, shifting demographics, evolving customer demands and emerging technology. Additional features allow the customer to access their loan details, history, tax and insurance information, and ARM details. This all housed in a single…
The non-QM proliferation: Other alternative products When it comes to a discussion of non-qualified mortgages (non-QM) or non-prime mortgages, quite a few originators may not know all the permutations of alternative product categories available to them to satisfy their borrowers’ requirements. The industry has gone through some much-needed adjustments with the introduction of stricter rules and regulations in this Dodd-Frank decade, creating a new and better generation of alternative lending. The result is a markedly responsible lending ethos that, after…
Citadel’s Servicing Portfolio Crosses the $3 Billion Mark Citadel Servicing Corporation (CSC) has announced that it has surpassed $3 billion in servicing under management. CSC is a vertically integrated lender, solely dedicated to the non-QM/non-prime mortgage market. “We are continuously looking at ways to improve what we do and how we do it,” said Eric Friedman, CSC’s SVP, director of servicing. “We are always working with our partners to find cost-effective ways to service the needs of our customers. Over…

Citadel cuts rates across the board

  • Monday, 05 August 2019 11:16
Citadel cuts rates across the board Citadel Servicing Corporation (CSC) is dropping rates by 0.25%, the company has announced. The reduction follows the Federal Reserve’s announcement that it would cut the benchmark interest rate. The drop will be across all programs, including CSC’s unique ODF+ and one-month bank statement programs. CSC also recently updated its programs to allow borrowers to qualify for loan amounts of up to $5 million by providing on month or 12 months of bank statements. “The…
Citadel Servicing Corp. continues to expand non-QM options Loans for self employed borrowers and mixed-use residential/commercial on the rise HousingWire sat down with Jaye Craft, sales manager at Citadel Servicing Corporation (CSC) to talk about the growing demand for non-QM loan products and how CSC is meeting that need. HousingWire: There is a lot of interest in non-QM these days. As a long-time provider of non-prime wholesale and correspondent lending products, where are you seeing the most growth? Jaye: We…
Citadel Reduced 24-Month to Current Month or 12 Month for Bank Statement Program Evolving with the always-changing non-prime mortgage industry, Citadel Servicing Corporation has removed the 24-month bank statement as a means of qualification. The program has been superseded by allowing borrowers to qualify for loans amounts of up to $5 million by providing either the most current month’s bank statement or 12 months. Despite this deletion, Citadel’s lending program targeting self-employed and 1099 income earners will still include up…