Non-prime business is booming – but Citadel has launched incentives to make it boom even more
New incentives to both borrowers and brokers should boost non-QM originations for Citadel Servicing Corp. over the next six months.
CSC is aiming to boot originations to between $125 million and $150 million per month, CEO Daniel Perl told Debtwire. To that end, Citadel has lowered interest rates by a quarter of a percentage point across all its products, Perl said.
Citadel has also introduced a number of innovative products to entice borrowers and brokers, including a one-month bank statement program, a business bank statement option on the company’s Maggi Plus product, and a non-owner business-purpose loan for borrowers looking to fund non-owner-occupied properties without dealing with TRID disclosures or wait times.
Citadel will also invest in its operations with a new servicing facility, slated to open next month, Perl told Debtwire.
