Non-QM specialist Citadel Servicing Corporation (CSC) has announced that the company has been purchased by funds controlled by HPS Investment Partners LLC. HPS is a global investment firm that specializes in creative capital solutions and manages strategies across capital structures. HPS was founded in 2007 and has $61 billion in assets under management as of January 2020.

“We are excited that HPS has purchased CSC,” said new CSC Chief Executive Officer Kyle Gunderlock. “HPS have shown through past acquisitions the value they can bring. HPS’s financial and operational resources, as well as their confidence in what the CSC team has achieved, enhances our ability to continue to lead in the non-QM market.”

In addition to the resources available to CSC through this purchase, HPS brings a wealth of experience in growing businesses, allowing CSC to cement its position as the leader in the non-QM space.

Source: National Mortgage Professional Magazine

Citadel Servicing Corporation (CSC) has announced the launch of its new Commercial Property lending program, being added to Citadel’s Outside Dodd-Frank Plus program. The Commercial Property lending program is designed specifically for commercial property investors and owners, offering lending options for properties of five to 100 units.

The Commercial Property lending program covers a range of property uses, including light industrial, retail, office space, multi-family, storage facilities, strip malls, schools, daycare centers and hospitality properties for investors and owners looking to purchase or refinance.

“We are excited to add additional commercial property lending options, making our portfolio of products and services even more robust. Our customers will benefit by having commercial funding options with competitive rates in the non-QM space.” said Kyle Gunderlock, president and chief operating officer.

The Commercial Property program will initially be available in Arizona, California, Florida, Nevada, Oregon, Texas, Utah and Washington with plans to extend to additional states in the immediate future.

“When we launch any program, we do so to provide customers with the best possible product,” said Dan Perl, Citadel’s chairman and chief executive officer. “Our current range of programs have proved to be popular and the demand for commercial mortgages has increased. We are constantly looking for new and dynamic ways to meet our customer’s needs and requirements to.”

Source: National Mortgage Professional Magazine

Citadel Servicing Corporation has announced the launch of its new online Payment Portal. This new, mobile-optimized payment solution simplifies the user experience by enabling secure payments of customers mortgages online 24/7. The Payment Portal was designed to keep pace with changing social habits, shifting demographics, evolving customer demands and emerging technology.

Additional features allow the customer to access their loan details, history, tax and insurance information, and ARM details. This all housed in a single convenient location.

“We are continually looking to improve the services we provide our customers and are very excited to be able to provide an online platform which makes doing just that through this new online payment portal,” said Eric Friedman, SVP director of servicing for Citadel Servicing Corporation. “Launching this service will make it easier for our customer to make their loan payments without leaving the comfort of their home, and we see this being a great success as we continue to work to incorporate additional features into the portal.”

Citadel recently surpassed $3 billion in servicing under management and with this new service being introduced, it will enable CSC to strengthen their growing servicing portfolio.

Source: National Mortgage Professional Magazine