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The Industry Pulse: Updates on Citadel, Wells Fargo, and More

From important milestones to new additions and technology, get the latest industry buzz in this update.

Citadel Servicing Corporation (CSC) has announced that it surpassed $3 Billion in servicing under management. What is even more outstanding is that it has taken just 9 months to add $1 Billion to their already growing servicing portfolio.
CSC is the only Vertically Integrated lender solely dedicated to the Non-QM / Non-Prime mortgage market. With their range of innovative products and the most competitive rates in the industry, CSC is once again showing why they are leaders in this niche market.

“We are continuously looking at ways to improve what we do and how we do it. Working with our partners to find cost effective ways to service the needs of our customers. Over the past 12 months we have invested in systems which allow us to provide efficient and easier ways to service our customers.”, said Eric Friedman, SVP Director of Servicing.

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Wells Fargo announced that Eileen Fitzgerald will join the company as head of its housing affordability philanthropy. She begins work September 30 and will report to Brandee McHale, President of the Wells Fargo Foundation.

“America can’t afford unaffordable housing,” McHale said. “Wells Fargo is committed to addressing the full spectrum of housing issues. With Eileen at the helm, I am confident we will move quickly to further develop solutions to challenges ranging from homelessness to rental housing to homeownership — all with a goal of unlocking more housing options for those in need.”

Fitzgerald has more than 25 years' experience in housing and community development. Currently, she is President and CEO of Stewards of Affordable Housing for the Future (SAHF), a collaborative of nonprofits that collectively own and operate more than 140,000 affordable rental homes across the U.S. SAHF advances the creation and preservation of healthy, sustainable affordable rental homes for people of limited economic resources.

Previously, Fitzgerald was CEO and COO of NeighborWorks America. Before that, she worked at the Fannie Mae Foundation and was chief investment officer for Single-Family at the AFL-CIO Housing Investment Trust. She also worked at the U.S. Department of Agriculture’s Rural Housing Service and with the Virginia and Maryland state governments.

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Florida-based Black Knight, Inc. and Docutech have created a strategic alliance to bundle Docutech’s advanced ConformX document generation engine as part of Black Knight’s comprehensive Origination Suite of solutions. Including ConformX in the Black Knight Empower Now! loan origination system (LOS) implementation process not only further optimizes the loan process for customers and providers, but helps lenders eliminate the time and resources needed to search for and contract with a separate loan document provider.

“Docutech is dedicated to providing lenders with solutions that enable them to manage their document needs more efficiently while maintaining the highest level of compliance tools and offering their customers a more modernized loan experience,” said Amy Brandt, President and CEO of Docutech. “We are proud to work with BlackKnight to include ConformX with an Empower Now! implementation for faster, more efficient data integration and document exchange to enhance a seamless, secure onboarding process.”

By integrating ConformX with Empower Now! implementations, lenders can now generate dynamic loan documents, auto-populated from data stored in Empower. Using rules-based intelligence and pre-configured automation capabilities, data is imported and systematically populated on the required documents generated by the lender to streamline onboarding.

About Author: Seth Welborn

Seth Welborn is a contributing writer for DS News. He is a Harding University graduate with a degree in English and a minor in writing, and has studied abroad in Athens, Greece. An East Texas native, he also works part-time as a photographer.
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