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Citadel and The Changes To Non-Prime Lending Non-prime is coming back in a big way. At the forefront of this resurgence is Citadel Servicing Corporation. MPA recently chatted with Citadel’s Tony Guidicessi about what sets Citadel apart from the pack – and how non-prime has changed since the pre-crisis days.  
Citadel Servicing posts record month  17 Oct 2017     Citadel Servicing Corp. is planning to boost its monthly originations of non-QM loans in the next six months with the help of new incentives to borrowers and brokers, according to CEO Daniel Perl. The lender known for its non-prime non-QM products is targeting originations of USD 125m–USD 150m per month, compared with levels in the mid USD 80m area currently, he said. Among the incentives, Citadel has lowered interest rates by…
Citadel Servicing posts record month by Jeff Lazerson | 28 Sep 2017     What’s up with mortgage rates? Jeff Lazerson of Mortgage Grader in Laguna Niguel gives us his take. Rate news summary From Freddie Mac’s weekly survey: The 30-year fixed rate averaged 3.83 percent, unchanged from last week. The 15-year fixed averaged 3.13 percent, also unchanged from last week. The Mortgage Bankers Association reported loan application volume was unchanged from the previous week. Bottom line: Assuming a borrower gets the average…
Citadel Servicing posts record month by Ryan Smith 19 Sep 2017     The non-prime space is growing, and Citadel Servicing Corp. is seeing the benefits. The company had a record month in August, with more than $200 million in non-prime originations. “That is exclusively non-prime, non-QM originations,” said Will Fisher, CSC’s senior vice president of national sales and marketing. “We’re firing on all cylinders, preparing for the end of the year. We received more loans last month than we have…
CSC’s Lender Paid Compensation Program   To find out more information on CSC's Lender Paid Compensation Program please complete the form and one our our AEs will contact you. If you are ready to apply for our Lender Paid Comp program, please fill out the following form(s) Lender Addendum, if applicable Personal Financial Statement For updated Lender Addendums, please fill out the following form: Lender Paid Comp Update Use the form below, and one of our AEs will be in touch…
Citadel launches new one-month bank statement program by Ryan Smith 11 Aug 2017     One of the main problems with traditional mortgages is that they’re best for people who fit into a very narrow box.  Prospective homebuyers who fall outside that box – even ones with good credit and a sterling history of repayment – might find it hard to get a loan.  Now a leader in the non-prime space has introduced an innovative product to help those customers. Citadel…
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CSC head recognized for revitalizing non-prime by Ryan Smith 27 Jun 2017     The head of Citadel Servicing Corp. (CSC) has been recognized for helping make non-prime lending a viable business model again. Kyle Gunderlock, president and COO of CSC, has been recognized as one of HousingWire’s 2017 Rising Stars. Gunderlock built Citadel from a three-person company at its formation in 2003 to more than 150 today. Since 2013, CSC has funded more than $1 billion in non-QM loans. The…
Non-OwnerBusiness Purpose is Here   FeaturingNo TRID Disclosure Requirements (NO LE, ITP OR CD)No Income RequirementsNo Reserve, Asset, or DSCR RequirementsWage Earners or Self -employed, Okay   Details: Must be non-owner occupied property 1 - 4 unit Business purpose is to acquire, improve or maintain subject property $2mil max loan amount $100K min loan amount 70% Max LTV/CLTV To learn more, use the form below, and one of our AEs will be in touch with you promptly.  
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Citadel introduces new business purpose loan by Ryan Smith 20 Jun 2017     One of the biggest advantages of non-prime programs are their flexibility. Brokers can use non-prime products to help borrowers who have unusual projects that might otherwise be difficult to fund. The newest loan program from Citadel Servicing Corp. (CSC) is one such product. CSC’s new Non-Owner Business Purpose product is a great way for originators to help borrowers looking to fund non-owner-occupied properties. “What’s unique about this…