Newfi’s Sequoia Expansion – It’s a Big Deal

Newfi Wholesale has expanded its guidelines for Sequoia Portfolio Plus, making it easier than ever to qualify more Jumbo borrowers.

Here are some of the features of our guideline expansions:

  • One year income documentation OK for Self-Employed and basic W-2
  • No minimum trade line requirement with 3 credit scores, LTV < 75% and 24 month housing payment history.
  • LTV increased to 90% for Owner Occupied
  • LTV increased to 80% for Non-Owner Occupied
  • Credit Scores as low as 660, with exceptions down to 640
  • Revolving accounts paid off to qualify – no need to close the account
  • Expanded allowable Non Arms-Length purchase transactions

Sequoia is especially good for:

  • Asset Depletion Income – ONE OF THE EASIEST calculation methods in the industry
  • Borrowers needing payment relief, so a 40-Year Fixed, 10-Year Interest-Only is the answer
  • Borrowers with high ratios that can be alleviated by an aggressive Asset Depletion guideline
  • Conforming or Jumbo loan amounts
  • Full Doc or Bank Statement qualification

Newfi’s Sequoia is underwritten in-house, making it ideal for borrowers who need make-sense exceptions. It’s regularly used for loans that are just outside a traditional Jumbo A profile.

Loans can be tailored to borrowers’ unique income and asset histories, with amounts up to $2.5 million. With our in-house approvals, we can make faster underwriting decisions without investor delays.