Citadel – Private Lender Link

Citadel Servicing is the Nation’s premier Non-Prime Lender. We focus on borrowers who don’t fit the traditional mold of Conventional or FHA lending guidelines. At Citadel we realize not everyone has perfect credit and we understand life happens. Additionally, not everyone can document their income in the narrow definition that government loans allow. Citadel allows borrowers with a rougher than usual credit history to qualify for loans with terms that are fair and meet government lending criteria for ability-to-repay and government fee limitations.

Here are some of our guidelines:

Loan Amounts: $100,000 to $5,000,000
Lending Areas: AL, CA, CT, CO, DC, FL, GA, IL, KS, MD, MT, NC, NJ, OR, PA, SC, TN, VA, WA, WI
Loan Types: Purchase, Refinance, Equity Cash Out
Property Types: 1-4 units Residential, mixed-use and up to 35 units
LTV (loan-to-value): Up to 90% for owner-occupied, up to 75% for investment property
Interest Rates: 4.625% to 9.25% *
Origination Fee: 1 to 2.5 points
Loan Term: 60 to 360 months
Lien Position: 1st only

Owner-Occupied Home Refinance or Purchase

Loan Amounts: Up to $5,000,000
Credit Score: 500 and below OK
DTI (debt-to-income ratio): 50% maximum
LTV (loan-to-value): Up to 90%, no mortgage insurance
No Foreclosure, Short Sale or BK Seasoning
Two years from Short Sale to 90% LTV
One year from Short Sale to 85% LTV
Bank Statements for Income to 90% LTV
ATR-In-Full & Asset Depletion No Income
One Month Bank Statement Program
VOE only Program for W2 borrowers
1yr Income programs

Non-Owner Occupied Refinance or Purchase

Loan Amounts: Up to $5,000,000
Loan Purpose: Investment or business
LTV (loan-to-value): Up to 75%
Stated Income
No Reserves
Interest Only payment available
No Pre Payment Penalties
Foreign Nation Lending programs STATED
Non-Owner Business purpose loans (No TRID)

* Interest Rates and Fees

Scenario 1
- Rate 4.875%
- Loan Amount $200,000
- Amortized of 30 Years
- Fees $3195.00 (1 point + $1195.00)
- APR – 5.016%
Scenario 2
- Rate 9.25%
- Loan Amount $200,000
- Amortized of 30 Years
- Fees $4,195.00 (2 point + $1,195.00)
- APR – 9.492%

Property Geographic Area Details

AL, CA, CT, CO, DC, FL, GA, IL, KS, MD, MT, NC, OR, PA, SC, TN, VA, WA

Loan Amounts

$100,000 to $5,000,000

Interest Rates

4.625% to 9.25%

Max Loan-To-Value

90.00%

Max Loan-To-Cost

90.00%

Origination Fees

1% to 2.5%

Loan Terms

60 months to 360 months

Lien Position

Loan Purpose

Investment Acquisition
Investment Refinance
Improve Subject Property
Use Equity to Invest in Another Property
Primary Residence Purchase
Personal Use

Property Occupancy

Vacant
Tenant Occupied 100%
Tenant Occupied Partial
Owner Occupied Commercial
Owner Occupied Residential

Minimum Occupancy Percentage

30%

Property Types and Loan Types

Collateral Types

Residential Property

Property Types

2-4 Units Residential
Adult Day Care
Assisted Living Facility
Bed and Breakfast
Condominium
Manufactured Home
Mixed-Use
Multifamily
Single Family Residence

Loan Types

Residential Long-Term Rental
Residential Owner-Occupied

Specialty Loan Types

Residential Long-Term Rental
Residential Non-Prime

Purchase Loan

Max Loan-To-Purchase Price

Borrower Must Have Property Under Contract

yes

Will Provide Proof of Funds Letter

Will Consider Lending on Purchase from Auction

Allowed Source of Borrower’s Equity

Own Cash
Seller Financing
Family

Residential Long-Term Rental

Minimum Loan Amount

$100,000

Maximum Loan Amount

$5,000,000

Minimum Loan Term

30 months

Maximum Loan Term

30 months

Maximum Loan-To-Value

80.00%

Maximum Loan-To-Purchase

80.00%

Minimum Debt Service Coverage Ratio

0.75

Will Lend on a Portfolio of Rentals

Yes

Minimum Number of Properties

Maximum Number of Properties

100

Minimum Property Value

$100,000

Details and Requirements

Typical Closing Time (Days)

Fastest Closing Time (Days)

Works With

Brokers
Borrowers

Payment Structure

Interest Only
Amortized

Pre Payment Penalty

Will lend to a foreign national

yes

• Up to $5 mil loan amounts • 2nd home & non-owner occupied 1 - 35 unit properties • No income verification • No reserves • 75% LTV • Passport only to qualify • International credit report or letter of good standing with current financial institution • No pre-payment penalties • 5yr & 7yr ARM - 30 year amortized payment • Interest only available

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

Borrower Entity Types Considered

Individual(s)
LLC
Trust

Documentation Required

Credit Report
Tax Returns
Bank Statements
Financial Statements
Loan Application

Personal Guaranty (Recourse) Required

Always

Credit Check Required

yes

Minimum Credit Score Required

500

Credit Check Description

Will entertain credit scores under 500 with Sr. management approval

Appraisal Required for Residential Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Never

Fees

Underwriting Fee

$995.00 to $1,295.00

Fees which are charged upfront prior to loan closing

Appraisal Fee

Fees which are paid to a third party company

Appraisal Fee

Legal Disclaimer

Citadel Servicing Corporation is licensed through the California Bureau of Real Estate (BRE) and the Department of Business Oversight (DBO). BRE license #01799059, NMLS ID #144549, DBO license #41DBO-74196

Citadel Servicing Corporation is licensed by the National Mortgage Licensing System & Registry (“NMLS”) including 38 states nationwide. We specialize in Non-Prime loans for residential properties on both an owner occupied and non-owner occupied basis. We have a range of products and services geared toward helping people with their purchase and investment goals. Our products include fixed and adjustable rate mortgages (ARMs).

Citadel Servicing Corporation (“CSC”) was formed in 2003 as a sister company to First Street Financial, Inc. (“FSFI”). FSFI was a top 20 subprime originator and top three hard money originator by volume through 2007. FSFI ceased operations and was shuttered in June of that year. CSC continued to thrive and in September 2007 partnered with a distressed asset fund purchasing whole loans on the scratch and dent secondary market.

License

NMLS ID #144549, CalDRE #01799059, CA CBO #41DBO-74196

Year Established

2003

Office Locations

15707 Rockfield Boulevard, Suite 320, Irvine, California 92603

Primary Capital Source

Own Funds

Alternative Capital Sources

Debt Fund We Manage
Other Private Lending Companies
Private Equity Funds
Hedge Funds

Loan Structure for Majority of Loans

Own Balance Sheet

Company’s Other Business Activities Besides Private Mortgage Lending

Commercial Mortgage Banking
Residential Mortgage Banking

Percentage of Loans Secured by Residential Property

100%

Percentage of Residential Property Loans Which are Owner-Occupied

80%

Loan Request

Deal Name *

Short Description of your Loan Request or Property Address

First Name *

Last Name *

Company

Email *

Phone

Company Phone

Your Location

This information is about yourself, not the subject property.

Country *

State

Province

Country *

State/Province

City *

What is your primary role in this loan request? *

Specify Your Role

Requested Loan Amount *

Loan-to-Value

Preferred Loan Term *

months

Lien Position *

Collateral Type *

Will the loan be collateralized by multiple properties? *

Fill out the form for one of the properties

At the end of the form you can enter the additional properties.

Exit Strategy *

how will the loan be paid off?

Exit Strategy Details *

Subject Property Address

Subject Property City *

Subject Property State *

Subject Property Zip Code

APN Parcel ID Number(s)

Lot Size

acres

Subject Property Photos

Add links to photos here.

	Image
1

Add

Will additional properties be collateralized? *

Additional Properties

Address

City *

State *

Zip Code

APN Parcel Number(s)

Square Footage

Lot Size

acres

Type *

Other Type *

Number of Units

Photos

Add links to photos here.

	Photo Link
1

Add

Borrower Entity *

Other Borrower Entity *

Borrower’s Credit Rating *

Comments

Additional Attachments

Add links to documents, photos, etc.

	Attachment Link
1

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Citadel Servicing Corporation

949-535-1950

Lending Profile

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Owner-Occupied Home Refinance or Purchase

Non-Owner Occupied Refinance or Purchase

Property Geographic Area Details

AL, CA, CT, CO, DC, FL, GA, IL, KS, MD, MT, NC, OR, PA, SC, TN, VA, WA

Loan Amounts

$100,000 to $5,000,000

Interest Rates

4.625% to 9.25%

Max Loan-To-Value

90.00%

Max Loan-To-Cost

90.00%

Origination Fees

1% to 2.5%

Loan Terms

60 months to 360 months

Lien Position

Loan Purpose

Property Occupancy

Minimum Occupancy Percentage

Property Types and Loan Types

Collateral Types

Property Types

Loan Types

Specialty Loan Types

Purchase Loan

Max Loan-To-Purchase Price

Borrower Must Have Property Under Contract

Will Provide Proof of Funds Letter

Will Consider Lending on Purchase from Auction

Allowed Source of Borrower’s Equity

Residential Long-Term Rental

Minimum Loan Amount

Maximum Loan Amount

Minimum Loan Term

Maximum Loan Term

Maximum Loan-To-Value

Maximum Loan-To-Purchase

Minimum Debt Service Coverage Ratio

Will Lend on a Portfolio of Rentals

Minimum Number of Properties

Maximum Number of Properties

Minimum Property Value

Details and Requirements

Typical Closing Time (Days)

Fastest Closing Time (Days)

Works With

Payment Structure

Pre Payment Penalty

Will lend to a foreign national

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

Will Consider Collateralizing Multiple Properties in One Loan

Will Consider Equity Joint Venture

Borrower Entity Types Considered

Documentation Required

Personal Guaranty (Recourse) Required

Credit Check Required

Minimum Credit Score Required

Credit Check Description

Appraisal Required for Residential Property

Broker Price Opinion (BPO) Accepted for Residential Property

Fees

Underwriting Fee

Fees which are charged upfront prior to loan closing

Fees which are paid to a third party company

Legal Disclaimer

License

NMLS ID #144549, CalDRE #01799059, CA CBO #41DBO-74196

Year Established

2003

Office Locations

Primary Capital Source

Alternative Capital Sources