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Servicing

Celink will be opening a new office in Tulsa

HUD’s reverse mortgage servicer will be opening the office shortly after it the government contract

Lansing, Mich.-based Celink will be moving to a new office space in Tulsa, according to Tulsa World. Celink announced earlier this month that it will be taking over the Home Equity Conversion Mortgage (HECM) servicing contract from the U.S. Department of Housing and Urban Development (HUD).

Celink will occupy 29,000 square feet at the Eastgate Metroplex office complex, a former shopping mall converted into roughly 886,000 square feet of office space — which is designed to accommodate large tenants.

Representatives of Celink declined to comment when asked by RMD if the move was related to the recent contract acquisition.

“We have been anticipating this new operation in Tulsa for some time and are very excited to see it become a reality,” said Celink CEO Marion McDougall told Tulsa World. “Our recruitment is in full swing, and those who have joined us already are excited about the space at Eastgate.”

Celink sought assistance from Oklahoma commerce organizations to find a location for the move. It ultimately settled on Eastgate, which is managed by the New York City-based commercial real estate company Shelbourne.

“We are excited that Compu-Link has chosen Tulsa and specifically Eastgate Metroplex for their most recent expansion,” Shelbourne Asset Manager Moshe Weissman told Tulsa World. “They join Capital One, Enterprise, RadNet, Zayo and HireRight, among others at the site.”

The move comes after the March announcement that Celink had won the HECM servicing contract, replacing the previous contract holder — who had held it since 2014.

“We are thrilled that Celink will now be assuming the HUD-assigned portfolio contract responsibilities, effective today,” McDougall told RMD. “We have been planning and preparing for this for a very long time and are excited to finally be able to put our plans into action. We will be working very hard to ensure a smooth transition alongside our partners at HUD.”

Industry response to Celink gaining the servicing contract was largely positive following the announcement.