Resources

"Mortgage Technology Leads a Silent Revolution in Minority Homeownership"By Matthew CooperCEO & Co-Founder, EarnUp Homeownership rates reached a record 50-year low this year, due to a number of different factors, includingresidual effects from the financial crisis, a lack of affordable housing options and increased restrictions forlenders. Unfortunately, the groups most impacted by these barriers are low-income and minoritycommunities, who already suffer from a long history of systematic economic disadvantages and biases. Formany minority communities, the dream of buying a home…
Citadel, bond raters, predict breakout year for non-prime mortgages 25 January 2017 | 15:38 EST Non-prime and non-QM lending will go from niche sector to mainstream this year as lenders boost originations and investors grow comfortable with the risks, according to a Citadel Servicing Corp. executive and two credit rating companies. For Citadel Servicing, a pioneer of non-prime loans since the financial crisis, the proof is showing up in the numbers, said CEO Dan Perl. Applications for Citadel loans have…
Fitch Assigns Subprime Servicer Rating to Citadel. Could a ‘Rated’ Nonprime MBS Deal be Next? by Brandon Ivey 21 Dec 2016   Fitch Ratings assigned a subprime servicer rating to Citadel Servicing Corp., Irvine, CA, Tuesday, an indication that the fast-growing non-agency lender will be involved with rated nonprime MBS. Citadel received an Rpractices PS3- rating with a stable outlook. Such level 3 servicers demonstrate proficiency in overall servicing ability, according to Fitch. The rating service also noted Citadel’s experienced management team, adequate risk…
Why nonprime should be in every broker’s toolbox HomeNon Prime by Ryan Smith09 Dec 2016   Unlike the risky subprime mortgages before the financial crisis, these new products have stricter regulations and are under a different name. Nonprime loans are undergoing something of a renaissance right now – and they’re a valuable addition to the loan originator’s toolbox. While the 2008 financial crisis left a lot of people with negative feelings about subprime loans, today’s nonprime market is much different…
For the mortgage companies looking to grow your business, non-prime may just be the answer said Will Fisher, senior vice president of loan production with Citadel Servicing, a non-prime wholesale lender.   “There is a lot of money on Wall Street that is sitting on the sidelines. They were taking a ‘wait and see’ approach to see how [non-prime] underwriting performs and how the loans perform,” said Fisher. “They are looking at different performance areas such as how long do…
Loan Intake Checklist CSC Lock Guidelines and Form Registration Request Form Funding Submission Checklist Automated Price/Rate & Loan Scenarios
ATR in Full  &  Asset Depletion Introducing ATR in Full Qualify with enough Liquid Assets to cover the loan balance!NO MONTHLY INCOME REQUIREMENT! Highlights: Your Borrower Does NOT have to be currently Employed You Only Need to Show Two Months of the Qualifying Account Up to 75% LTV - Purchase or C/O Refinance Down to 600 Fico Owner Occupied or Investment How It's Calculated: If the total assets cover the loan balance you’re done! ASSET DEPLETION The Most Innovative ASSET…
Subprime mortgage lending earned a bad reputation in the years leading up to the financial crisis of 2007-2008, and rightfully so. In the midst of a freewheeling lending environment that ignored most tried and true underwriting standards, Subprime loans played a significant role in a cascade of default causing harm to borrowers, lenders, and investors alike. When done correctly, however, such loans offer a safe alternative for credit-worthy borrowers who might be shut out of mortgages underwritten for sale to…
Bank Statement Program – Explained Citadel Servicing offers a 24-Month Bank Statement Program. Borrower Employment Types: Self Employed 1099o Must provide business license, Tax Preparer’s letter or corporate paperwork. Citadel Servicing will accept Personal or Business Bank Statements.  However, qualifying income will be calculated differently. Personal Bank Statements:  100% of Deposits Add all deposits for all 24 months and divide that amount by 24 to receive the monthly income amount we will apply as the borrower’s qualifying income. Ex. 24…
CSC is looking for qualified correspondent sellers of our innovative and industry leading loan products. If you are looking to separate your company from the pack and increase revenue streams… We are looking for Correspondent sellers with the following qualifications: Retail Originators Only Net Worth of $1,000,000 Experienced & Established Bankers Only Apply to become a correspondent by completing the following questionnaire:

Correspondent Questionnaire

Please provide answers to all the questions below:

Name:*
Company Name:*
Title:*
State:*
E-mail:*
Phone:*
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How long have you been in business?*
How many employees do you have?*
How many offices do you have?*
Do you have warehouse lines currently? If so how long and with whom? Do they accommodate loans underwritten to our guidelines? What is your volume capacity?*
Do you have centralized underwriting, processing and funding?*
What is your current volume, retail and wholesale?*
Are you a broker or lender?*
Vendors:
  • What is your LOS?
  • What Doc service do you use?
  • Who does your Compliance audits?
  • Which Pricing engine do you use?
*
What is your current net worth? Cash liquidity?*
For mortgage professionals only. This information is intended for the exclusive use of licensed real estate and mortgage lending professionals in accordance with local laws and regulations. Distribution to the general public is prohibited. Rates and programs are subject to change without notice. Citadel Servicing Corporation is an Equal Opportunity by law.
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