Citadel Servicing closes out 2017 with record funding month

by Ryan Smith09 Jan 2018
. (CSC) spent much of 2017 shattering its own records, seeing its originations boom and introducing new products and services at an impressive pace. And the company closed out the year on yet another high note.

“December became our largest funding month to date – at nearly $100 million in funded loans,” said Will Fisher, senior vice president and national sales and marketing manager for . “Year-over-year growth was 69% in funded loans. That’s a pretty awesome number for only about 40 account executives nationwide and our band of merry underwriters.”

The record funding month followed a November in which broke its own record for originations. The company also introduced or expanded several innovative loan programs throughout the year – raising the loan amount on its rural product to $1.5 million and adding 12- and 24-month bank statement programs to its first-time homebuyer product, among other things.

“It seems like we’re hitting on all cylinders,” Fisher said. “We have the programs, we have the lender-paid comp, and we have the rates. Those three things really set us apart.”

But Fisher said it wasn’t simply the product that kept growing.

“We also have the right team,” he said. “Our folks are underwriting experts. We’re not an “A” Paper shop who’s a tourist in the Non-QM mortgage market. We’re market leaders.”

Fisher said that is also passionate about helping its underwriters and account executives develop their skills and move to the next level professionally. The company runs an educational program called Citadel University, in which any employee can train to do their job more effectively – or move into other opportunities inside the company.

“The first program that we began training with was the account executive program,” Fisher said. “We put our AEs through it, and they learn about , Dodd-Frank, what Non-QM is, how to sell it, and of course our product and our process. And now there’s underwriter training, funder training, management training.”

That culture of education and mobility allows many employees to quickly climb the professional ladder.

“Believe it or not, a lot of folks come off our reception desk,” Fisher said. “They move into loan setup or assisting transaction managers and processors – starting to learn the business. We do a lot of that here.”


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