News

Is your non-QM lender vertically integrated?

  • Thursday, 15 November 2018 11:52
Is your non-QM lender vertically integrated? by Ryan Smith 14 November 2018 With the non-QM space expanding exponentially, there seem to be new non-prime lenders practically every day.  Very few of those lenders, however, underwrite, audit, and service their loans – and that’s where Citadel Servicing Corp. (CSC) is different. “Servicing is in our name.  We’ve been servicing loans since 2003,” said Will Fisher, senior vice president and national sales and marketing director at CSC.  “As a non-prime lender in the wholesale,…
Citadel Servicing rolls out financing product for small multifamily properties By Jeremiah Jensen 26 October 2018 Citing growing market demand, Citadel Servicing Corp. has created a new non-prime/non-QM funding product for multifamily and mixed-use properties up to 35 units that it's calling the "Outside Dodd-Frank Plus Program. "The Outside Dodd-Frank Plus Program is an extension of Citadel’s Outside Dodd-Frank Program and offers loans for properties up to 35 units. Loan amounts are up to $3 million with a max loan-to-value ratio of 75%.“We…

Citadel debuts Outside Dodd-Frank Plus program

  • Wednesday, 24 October 2018 13:56
Citadel debuts Outside Dodd-Frank® Plus program by Ryan Smith 23 October 2018 Citadel Servicing Corp. (CSC) has launched a new product for five- to 35-unit properties and mixed-use containing a livable unit with a bed. The Outside Dodd-Frank Plus program builds on CSC’s Outside Dodd-Frank (ODF) program to offer loans on properties up to 35 units, with loan amounts of up to $3 million and a maximum loan-to-value of 75%. “Basically, if it has a bed or living residence attached to…
Keeping business booming as rates rise by Ryan Smith 18 October 2018 With mortgage rates rising, there looks to be tough sledding ahead for traditional agency loans. But there are still plenty of borrowers out there according to Will Fisher, senior vice president of sales and marketing at Citadel Servicing Corp. – you just have to have the right product. Fisher said that much of the chatter at this year’s Mortgage Bankers Association conference was that non-prime is the play if…
Citadel Servicing breaks ground with new specials  by Ryan Smith 10 October 2018 As the non-QM market heats up, Citadel Servicing Corp. (CSC) continues to break new ground. “We’re still growing,” said Will Fisher, senior vice president of national sales and marketing at CSC.  “We have seven new folks starting in our next account executive class, and about 17 to 20 folks will be starting over the next few days.  We also have a new special rolling out – two new specials,…
Executive Conversation: Daniel Perl on the resurrection of the non-prime market By Sarah Wheeler 2 October 2018 Executive Conversations is a HousingWire web series that profiles powerful people in the financial industry, highlighting the operations and the people that make this sector tick. In the latest installment, we sit down with Daniel Perl, chief executive officer of Citadel Servicing Corp., to discuss how his company is changing the narrative on non-prime loans.  Q. What is driving the recent surge of…
Citadel expands programs to serve more borrowers by Ryan Smith 24 September 2018 As Citadel Servicing Corp. (CSC) continues to grow, they are expanding their programs to serve a broader segment of prospective homeowners. “We’re expanding our verification of employment (VOE) and one-month bank statement programs,” said Will Fisher, senior vice president and national sales and marketing director at CSC. “We had a $250,000 loan minimum, and we are now going down to a $150,000 minimum loan amount. That’s really going…
Citadel named 8th fastest growing company in Orange County Orange County Business Journal 17 September 2018 The Orange County Business Journal has named Citadel Servicing Corp. (CSC) the 8th fastest growing private midsize company in Orange County, California. To be named to the list, companies must achieve at least 15% revenue growth over a two-year period, a number that Citadel far exceeded by achieving growth of 191%. Fastest Growing Private Midsize Companies
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…