News

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…
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…
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…
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…
Citadel sees big growth by Ryan Smith 23 May 2017     The non-prime market is growing by leaps and bounds – and that’s good news for non-prime lenders that can keep up with the market’s trends. By riding that wave, Citadel Servicing Corp. (CSC) has seen some remarkable growth recently, according to Will Fisher, senior vice president and national sales and marketing director. “We’re growing like crazy. (Recently) we had another training class, and we had six new sales reps…
Citadel partners with top pricing engines by Ryan Smith 30 May 2017     Part of a good lender’s job is to provide brokers with tools to help them put together solid loans as quickly as possible. That’s especially true in the non-QM world, where loans can be more complex and challenging. To meet that obligation to brokers, Citadel Servicing Corp. (CSC) recently went live with two pricing engines. “For wholesale, we just went live with a company called LenderPrice,” said…
Citadel moves into correspondent lending in a big way HomeNon Prime by Ryan Smith25 Apr 2017 As the market for non-prime loans continues to grow, it’s opening up new sectors of the business for lenders who offer non-QM products. Citadel Servicing Corp. (CSC) is taking advantage of the growth of Non-Prime by expanding their correspondent sector. “We’re making a big push in correspondent lending,” said Will Fisher, senior vice president and national sales and marketing director for CSC. “We’re signing…