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 excited to add additional commercial property lending options, making our portfolio of products and services even more robust,” said Kyle Gunderlock, president and chief operating officer of CSC. “Our customers will benefit by having commercial funding options with competitive rates in the non-QM space.”
The program will initially be available in Arizona, California, Florida, Nevada, Oregon, Texas, Utah and Washington, with plans to extend to additional states in the near future.
“When we launch any program, we do so to provide customers with the best possible product,” said Dan Perl, chairman and CEO of CSC. “Our current range of programs have proved to be popular and the demand for commercial mortgages has increased. We are constantly looking for new and dynamic ways to meet our customers’ needs and requirements.”
Source: MPA Magazine