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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 The program has been superseded by allowing borrowers to qualify for loans amounts of up to $5 million by providing either the most current month’s bank statement or 12 months.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…
Oaktree Capital Securitizes $416M of Non-QM Mortgages With Partner Citadel Servicing A valued business partner of Citadel Servicing Corporation, Oaktree Capital Management, has issued its second rated securitization totaling $416,619,599 of non-QM mortgages via the Bunker Hill Loan Depositary shelf. Citadel has contributed loans totaling 21.81 percent of the deal value or $90,871,563 notional. Furthermore, Citadel will continue to support this transaction as a mortgage servicer. “Citadel Servicing has and will continue to be an industry leader in the non-QM/non-prime…
Citadel Servicing named as a Top Mortgage Workplace  22 February 2019 Mortgage companies both large and small, and from all areas of the industry, were invited to participate in MPA's first Top Mortgage Workplaces survey. Employees were asked to share what they love about their respective workplaces. From the hundreds of companies that participated, only 32 earned the title of Top Mortgage Workplace. And of the 68% of lenders who participated, CSC ranked in the top 10 of all lenders and…

Citadel sees another banner year in 2019

  • Monday, 11 February 2019 11:20
Citadel sees another banner year in 2019 by Ryan Smith 11 February 2019 Citadel Servicing Corp. (CSC) had a great 2018, seeing over 104% growth from 2017 – and 2019 is already looking like another banner year. “We had our biggest month ever in January – over $180 million, and it’s all non-QM,” said Will Fisher, senior vice president and national sales and marketing director at CSC.  “Things are looking really, really bright over here.  Submissions are charging ahead, and we’re…

Citadel extends holiday special into spring

  • Monday, 04 February 2019 12:13
Citadel extends holiday special into spring by Ryan Smith 31 January 2019 Citadel Servicing Corp. (CSC) is extending its holiday special into a new spring special. “The holiday special performed really well for us. We were really happy with the volumes and the brokers were very happy with the pricing. So we decided to continue with a similar special through the end of March,” said Will Fisher, senior vice president and national sales and marketing director for CSC. “The pricing on the new…

Citadel continues to set records

  • Thursday, 10 January 2019 16:54
Citadel continues to set records — even in the slow season by Ryan Smith 10 January 2019 With non-prime hotter than ever, Citadel Servicing Corp. (CSC) is continuing to set records – even at a traditionally slow time of year. “We had our largest month for fundings in wholesale this past month – a new record,” said Will Fisher, senior vice president and national sales and marketing director for CSC. “It’s about 10% higher than our previous record, which was August. I…

How Citadel keeps its rates low

  • Wednesday, 12 December 2018 11:19
How Citadel keeps its rates low by Ryan Smith 11 December 2018 Citadel Servicing Corp.’s (CSC) holiday special is still going strong.  The special, good on all Maggi Plus and Non-Prime products, applies to loans that are in CSC’s closing department by Jan. 18. “We are reducing rates on all purchases by 0.375% and on all refinances by 0.25%,” said Will Fisher, senior vice president and national sales and marketing director for CSC.  “And as an added bonus, you can get another quarter…