Non-QM industry pioneer Citadel Servicing Corporation [1] (CSC) has dropped rates by 0.500% (50 basis points) across all product lines and programs. CSC is outpacing an industry built on competitive pricing and allowing consumers looking to purchase or refinance residential and commercial real estate loans the best rates in this industry segment.
Also, CSC has made extreme changes to their One Month Bank Statement (OMBS) program. This innovative program allows borrowers to qualify for loans amounts of up to $7.5 million by providing their most current month’s bank statement.
CSC is the only organization in the industry to provide such a program. Many of CSC’s competitors offer complicated P&L programs requiring a CPA prepared form and up to 12-months’ worth of bank statements to qualify, but no other organization in this space is able to qualify borrowers using solely their most recent bank statement.
CSC has demonstrated a willingness to innovate as the Company continuously strives to improve their menu of lending programs to meet the borrower needs of today.
“This market segment is continuously changing and as an industry leader Citadel Servicing has to adapt. 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 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,” said President and COO Kyle Gunderlock.