Citadel launches new incentives for non-prime

by Ryan Smith24 Oct 2017
New incentives to both borrowers and brokers should boost non-QM originations for 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.

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