Citadel Rethinks Non-Agency MBS Strategy and May Test Public Market Instead of Private Deals
March 22, 2013
Citadel Loan Servicing Corp. of Irvine, CA, which has raised $200 million from investors to originate nonprime, non-agency residential loans, may try to sell a non-agency MBS in the public market over the next year, according to CEO Dan Perl.When news first broke earlier this month that Citadel had completed its capital raise, the firm said it would likely issue an MBS but privately. But in a recent interview with Inside MBS & ABS, Perl said it could wind up being a public deal though he declined to give much color on the situation.