Citadel extends holiday special into spring

The special is a great way to help brokers enter the non-QM space, Citadel says

Citadel extends holiday special into spring

Citadel Servicing Corp. (CSC) is extending its holiday special into a new spring special.

“The holiday special performed really well for us. We were really happy with the volumes and the brokers were very happy with the pricing. So we decided to continue with a similar special through the end of March,” said Will Fisher, senior vice president and national sales and marketing director for CSC. “The pricing on the new special will be available as long as the file is in our closing department by March 21.”

And CSC has improved upon the prior special’s pricing, Fisher said.

“It was three-eighths (0.375) off for purchase and a quarter off for refi,” he said. “Now it’s three-eighths off for both purchase and refi, and an additional quarter (0.25) off for loan amounts over $1 million.”

Fisher said that CSC is able to offer great pricing because of the work the company has done to bring non-QM products into the mainstream.

“We’re fortunate to not only be the market maker for the product, but we are also the price leader in the space,” he said. “I think we’re in a very lucky position because of what we’ve accomplished over the last eight years building the space out. Our account executives are highly-trained experts at guiding brokers through the process of structuring their loans.”

That work has also led to rapid growth for the company and significant expansion from its California headquarters, Fisher said.

“We have expanded our operations in Atlanta and Tampa, and we have an office in Utah as well,” Fisher said. “We’re firing on all cylinders. It couldn’t be a better time for brokers; if they haven’t already, it’s time to jump into this space. We have more than enough capacity to help them market, structure and fund their loans. We believe this is a perfect time to gain market share, and we have the capacity and the ability to do it.”

Fisher said that CSC’s current special is a great incentive for brokers to jump into the non-QM pool.

“We believe we’re providing relief in a rising-rate environment for our brokers,” he said. “We feel our product menu, service and additional specials should provide all the incentive to enter the space and provide solutions they can confidently market to their borrowers and their realtors.”