Citadel drops rates across the board

by Ryan Smith04 Feb 2020

Citadel Servicing Corporation has dropped rates by 50 basis points across all product lines and programs, the company has announced. The company has also made extreme changes to its One Month Bank Statement (OMBS) program, which allows borrowers to qualify for loan amounts of up to $7.5 million by providing their most current bank statement.

CSC is the only company in the industry to provide such a program, it said.

Kyle Gunderlock, president and CEO of CSC, said that the company is making changes to respond to the continued growth of the non-QM space.

“This market segment is continuously growing and changing, and as an industry leader, Citadel Servicing has to grow and adapt,” he said. “Our borrowers have shown a great demand for the OMBS program, and as a leader in the market, we wanted to cement our position as the go-to lender and servicer for non-QM loans. This is a great time to purchase or refinance. CSC is more than happy to help our customers do just that with great programs, exceptional service and the best rates.”