Records
from
the

Nationwide
Multistate
Licensing
System
(NMLS)
show
the
company
had
three
sponsored
loan
officers
at
one
active
branch
as
of
Monday.
City
Lending
maintained
licenses
in
29
states,
Washington,
D.C.,
and
Puerto
Rico.

“City
Lending
made
the
decision
to
wind
down
operations
after
carefully
reassessing
the
business
in
light
of
the
evolving
regulatory
environment
and
continued
market
consolidation.
It
was
a
deliberate
decision
based
on
the
realities
facing

independent
mortgage
lenders
today,”
Campodonico
said
in
a
statement
given
to

HousingWire.
“While
it’s
never
easy
to
close
a
company
you’ve
built,
I
believe
it
was
the
responsible
course
of
action
given
the
circumstances.”

The
company’s
website
is
no
longer
active.
National
Mortgage
News
first
reported
the
closure.

In
a
social
media
post,
Campodonico
reflected
on
his
journey
as
an

immigrant
entrepreneur,
noting
that
he
founded
the
retail
lender
in
2013
and
later
led
a
team
of
more
than
220
employees,
funding
roughly
$500
million
annually
at
its
peak.

“When
I
came
to
this
country
as
an
immigrant,
I
had
nothing
but
ambition,
work
ethic,
and
belief,”
he
wrote.
“We
navigated
market
cycles,
regulatory
environments,
growth,
adversity
and
transformation.
We
built
cross-border
teams,
created
opportunities
and
served
thousands
of
families.”

Campodonico
added
that
market
cycles
alone
do
not
determine
an
organization’s
fate,
emphasizing
leadership,
culture
and
values
as
defining
factors
in
long-term
sustainability.
He
added
that
he’s
now
pursuing
new
ventures
focused
on
commercial
strategy,
client
experience
and
long-term
value
creation.