Acra Lending is a dominant force in the non-prime lending industry, specializing in non-qualified mortgage loan products. Through years of experience, they have expanded their client base by featuring fixed and adjustable-rate mortgages (ARMs) for residential properties, catering to both owner-occupied and non-owner-occupied needs.
Acra Lending is synonymous with responsible lending practices, cutting-edge product innovation, and unparalleled operational efficiency. The team prioritizes a low-stress and well-organized process for the client.
The Drive to Break Company Records
Acra Lending is determined more than ever to achieve excellence in every aspect of the company. With a goal to consistently fund over $500 million monthly, the team has a hefty task ahead of them. In May, they originated over $300 million.
The company has been diligently improving its operations including the following:
- New Hires: The company is geared up to hire talent that focuses on the customer experience. Improving their customer service practices will foster relationships that lead to repeat business and valuable referrals.
- Technology Upgrades: The company-wide initiative to modernize technology and take advantage of automation, AI, and other time-saving software is in full swing. Streamlined operations are necessary to withstand the increased number of transactions.
- Increased Market Share: Acra Lending’s strong capital position sets it apart. As some lending companies face financial challenges, Acra Lending anticipates welcoming new clients seeking reliable and stable partners.
Setting lofty goals only drives the team to work harder and smarter. As the goal comes to fruition month after month, the company will be prepared with the proper infrastructure to support its growth.
How Acra Lending Plans to Reach Their Goal
Ambition is the first step to achieving aspirations that were once beyond Acra Lending’s wildest dreams. But they need more than drive to fund $500 million per month. They need a plan.
Acra Lending has an advantage over competitors with a schedule in place to release new products and optimize earnings. Take a look:
Multi-Family Bridge Loan
The re-introduction of the multi-family bridge loan, in conjunction with their long-term multi-family loan option, is set to significantly expand their loan product offerings and increase its market share in the commercial loan space. The recent market displacement caused by the exit of most regional banks has left many borrowers with limited choices and challenging decisions. Acra Lending aims to fill this crucial gap by providing both short-term and long-term loan solutions.
The wholesale team is excited to offer this valuable product to their customer base including brokers, correspondent bankers, and borrowers.
Ground-Up Construction Loan
Ground-up construction loans are another short-term loan offering that Acra is planning to offer in 2024. Acra’s customers will be able to rely on a company they know and trust to finance their construction projects.
In-House Securitization
The decision to offer in-house securitization is a strategic move designed to save money and improve financial outcomes for clients. The company can pass on significant benefits to its clients.
With in-house securitization, Acra Lending can offer more competitive rates and, in the future, potentially higher loan-to-value (LTV) ratios. Clients will relish these savings, made possible by the cost savings and efficiency provided by in-house securitization processes. More securitization customers will flock to Acra Lending because of their favorable terms and enhanced financial flexibility.
Acra Lending Servicing Department
Acra Lending is a dba of Citadel Servicing. Acra is one of the few private lenders that has a rated servicing operation, which provides an edge over its competition. The combination of Acra Lending and its servicing company allows it to control fees, timelines, and the customer experience throughout the loan life cycle.
Backed by a Trusting Investor
Acra is backed by a large New York based private equity firm that supports Keith Lind’s, Acra’s CEO, vision for the company. This capital support empowers Acra Lending to take on new ventures and pursue innovative growth opportunities, regardless of market conditions.
Moving Forward with a Continued Focus on the Customer Experience
Acra Lending’s deep commitment to the customer experience has made reaching $300 million in monthly funding a reality. Anil Sharma, Director of Investor Loans, explains, “Keith Lind wanted to make sure that we could walk before we run and that there would be no hiccups in the customer experience for any of our clients. Our process flow allows for a smooth experience because it has been beta-tested before being rolled out to our clients.”
Acra Lending places massive value on the customer experience, recognizing its significant impact on its success. The company takes great pride in building meaningful relationships with each customer. What sets Acra Lending apart is the strong sense of community it cultivates—relationships that last for decades and define the company’s charming and lasting appeal.
Extraordinary Growth for Acra Lending Despite Turbulence Among Competitors
While Acra Lending is experiencing some of its best months yet, others in the industry face challenges. Acra Lending stands out with its robust infrastructure, which allows for the introduction of new products and expansion into a broader customer base. Their business expertise enables them to implement cost-saving practices like in-house securitization and servicing. Additionally, their commitment to exceptional customer service fosters lifelong partnerships with clients.
This growth is no mere stroke of luck. Navigating success in an unpredictable market is possible when guided by top-tier leaders. Acra Lending has consistently demonstrated its ability to excel and rise to the top.
