News

Citadel's upward trajectory continues by Ryan Smith 12 September 2018 There doesn’t seem to be any stopping the upward trajectory of Citadel Servicing Corp. (CSC).  With non-QM more popular than ever, the company is seeing record-breaking business. “We just had our biggest funding month to date,” said Will Fisher, senior vice president and national sales and marketing director for CSC.  “We funded just under $180 million this past month – and we’ve been increasing every month.” The company is also continuing its…
Have you had your lightbulb moment? by Kimberly Greene 27 August 2018 The non-QM space is growing, but many originators are still slow to catch on. Will Fisher, senior vice president of sales and marketing at Citadel Servicing Corporation, said that there are plenty of companies who don’t understand how non-QM fits into their marketing strategy. “The truth of the matter is, you already have the borrower. It’s a borrower that’s, say, self-employed and can’t give tax returns because they write off too…
As non-prime booms,  take care to pick the right lender by Ryan Smith 22 August 2018 The non-prime market continues to grow by leaps and bounds.  But as the number of players in the market increases, it becomes more and more important for mortgage pros to be mindful about which companies they do business with, according to Will Fisher, senior vice president and national sales and marketing director for Citadel Servicing Corporation (CSC). “The overall mortgage market funds $1.4 trillion a year,”…
Another record non-QM production quarter for Citadel. 2018 productions could top $1.8 billion. by Paul Muolo, August 8, 2018   Citadel Servicing Corp., Irvine, CA, originated $389.3 million of non-QM mortgages during the second quarter, a 32.3 percent sequential gain, according to figures provided to IMFnews Wednesday morning. In July, the company funded $153.1 million. Company founder and CEO Dan Perl is forecasting the privately held nonbank will fund between $1.7 billion and $1.8 billion by the time 2018 ends, all of…
The Right Time for Non-Prime 17 July 2018 As the number of prime borrowers dries up, investors are showing an increased appetite for non-prime loans, which are markedly different from the subprime lending that was a hallmark of the financial crisis. Today’s non-prime loans are carefully underwritten with an appropriate examination of the underlying collateral.  These loans serve borrowers who have been unable to qualify for government-backed loans, but may otherwise have good incomes and room for substantial down payments. By…
Citadel's correspondent program filling up fast  by Ryan Smith 27 June 2018 Since Citadel Servicing Corp. (CSC) introduced its correspondent lending program late last year, the non-prime market has only continued to pick up steam. And originators who want to take advantage of CSC’s lucrative correspondent program need to hurry. “We’re approaching the limit of how many correspondent sellers we want to sign up for 2018,” said Will Fisher, senior vice president and national sales and marketing director for CSC. “We postulated…
Citadel is in growth mode as non-prime market heats up by Ryan Smith 15 May 2018     With borrower interest in non-prime products on the upswing, Citadel Servicing Corp. is growing to keep pace. “To quote Jaws, ‘we need a bigger boat’ – so we’re building a bigger boat,” said Will Fisher, senior vice president of sales and marketing for CSC. “We’re on a hiring tear. This past month we brought on about 16 people and we’re looking to bring on another…
The simple way to get into non-prime by Kim Burgess 24 Apr 2018   As the non-prime market continues to heat up, Citadel Servicing Corp. keeps breaking records – and rolling out new products. This summer, the company launched its One-Month Bank Statement program, which is open to self-employed borrowers, including first-time homebuyers. To qualify, a borrower must have a minimum 650 credit score and no credit events in the last five years, such as charge-offs, collections or tax liens. Will…
Citadel invests to give brokers more tools by Ryan Smith 23 Apr 2018     Citadel Servicing Corp. (CSC) is making big changes to give customers more options – and to give brokers better tools to help their clients. “We’ve made a big technology investment here at CSC,” said Will Fisher, CSC’s senior vice president and national sales and marketing director. “We’ve put a lot of resources into the operational side to make the process smoother for our brokers and our internal…
Citadel's success illustrates the importance of adding non-prime to your toolbox by Ryan Smith 12 Apr 2018   Citadel Servicing Corp. just keeps breaking records – and its success is a great illustration of why it’s so important for originators to have non-prime in their toolbox. “We had an absolutely bang-up month last month, another company record,” said Will Fisher, CSC’s senior vice president and national sales and marketing manager. “It was our biggest funding month. We funded over $110 million, and…