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Citadel Servicing Corporation, a lender specializing in the Non-QM space launched its 3-Month Bank Statement lending program. The company developed the program as a way to meet the needs of customers in the current lending environment, according to a press release.
The program is specifically designed for self-employed borrowers who have been negatively impacted during the COVID-19 pandemic. It will enable these borrowers to use their most recent bank statements to purchase or refinance properties, according to Citadel.
"We are proud to add an additional, more flexible bank statement program and provide our customers with more options, making our portfolio of products and services even broader and more adaptable," said Keith Lind, executive chairman and president of CSC.
"We have spent the past few months working to innovate across our range of programs to improve how we do business. We are constantly looking for new and dynamic ways to meet our customer’s needs and requirements and believe this new program is a prime example of that focus," added Kyle Gunderlock, CEO of CSC.