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Citadel Servicing Corporation will operate as Acra Lending effective immediately. The rebrand will double-up on the company's mission to be the best-in-class Non-QM lender, focusing on competitive mortgage lending programs and seamless customer experience, according to a press release.
Acra brings a "high-quality" institutional platform for the Non-QM marketplace as a result of business enhancements that have been made following its acquisition by HPS Investment Partners, LLC back in February 2020. According to the release, the company has a larger balance sheet and origination capacity with more than $700 million of new term and non-market-to-market warehouse facilities, a larger team of account executives, improved technology for enhanced operations and servicing and more products to reach the needs of a wider range of borrowers.
Acra is led by Keith Lind, executive chairman and president, who was previously with HPS, and Kyle Gunderlock, chief executive officer, who helped to build CSC over the past 12 years. Acra’s operations will continue to be led by Trudy Barton, Eric Friedman, Tim Doyle, and Chetna Vora and they are recently joined by industry veteran Jeff Lemieux following his successful tenures at GMAC and Bayview AssetManagement. Acra’s Board of Directors includes Tony Meola, the former head of consumer operations and loan servicing at Bank of America, and Konrad Alt. He brings decades of experience in risk management and regulatory affairs with Promontory Financial and Providian Financial, in addition to HPS professionals who bring many decades of experience in the financial services industry.
"The goal of all these efforts is to build upon our strong foundation to provide industry-leading service and programs to suit our customers’ needs," said Lind.