Payment Relief: 40-Year Term, 10 Year Initial IO on Sequoia Portfolio Plus

Do you have borrowers looking for lower initial payments? Newfi’s Sequoia Portfolio Plus offers a 10-year Interest-Only period at the start of a 40-year term. This gives payment relief while locking in today’s low rates for entire 40 year term, eliminating uncertainty when adjusting from IO to P&I payment. It’s easier to qualify than most IO loans, because of its 40-year term. Underwriting decisions are done in-house with exceptions available. …

New Pricing and Eligibility Tools for Non-QM Scenarios

Newfi Wholesale has partnered with LoanScorecard to offer clients a pricing and eligibility tool, specifically for our Sequoia Non-QM products. Approved clients or even potential clients can now run eligibility and pricing scenarios directly from Calyx Point, or here on our website. This platform will also use the borrower’s credit report to run an automated underwriting (AUS) specifically to our …

Qualify Using Bank Statements with No P&L

Did you know you can qualify a borrower using business bank statements with no P&L? Simply apply a fixed expense ratio based on the size and type of business. Learn more about using our Sequoia Portfolio bank statement programs. Expense Ratio for Bank Statement Income Calculations Number of Employees 0 1-5 > 5 Service Business 20% 40% 60% Product Business …

In-House Investor Pro: One of the Easiest Methods to Qualify Investor Clients

Sequoia Investor Pro is incredibly flexible, underwritten in-house, and requires no income, employment or asset verification*. This terrific NOO option is making headway in the marketplace. Newfi Wholesale has created one of the easiest methods of qualification for your investor clients. With Sequoia Investor Pro you have two options: qualify based on the subject property cash flow with a DSCR of …

Now is the time: Get Cash-Out on Investment Properties

Many borrowers have seen strong equity growth on their non-owner properties. Newfi’s Sequoia Portfolio Plus is a great program for borrowers to take a cash-out refi to get equity out of investment properties. Cash-out refis go up to 80% LTV on full doc with 680 credit; up to 75% with 660 credit. A bank statement option is also available with LTVs to 75% …

Qualify More Self-Employed Borrowers

Newfi continues to innovate for self-employed borrowers. With our Sequoia Portfolio Plus and Expanded programs you have two different options for calculating the net qualifying income from your borrowers business bank statements: Fixed Expense Ratio – This is the quickest and easiest calculation. Simply add up the total business deposits and apply a fixed expense ratio, based on the type and size of …

Easy Bank Statement Qualification – Sequoia Portfolio Plus and Expanded

You can qualify more self-employed borrowers using our Sequoia Portfolio bank statement programs. This is an excellent opportunity to review your pipeline of borrowers who were not previously able to qualify with a full doc, and breathe new life into those deals. Here are some highlights: Personal bank statements – Use 100% of employment related deposits with no additional expense …

Convert borrower assets into qualifying income with Sequoia Portfolio Plus

Newfi offers one of THE EASIEST Asset Depletion calculation methods in the industry with its Sequoia Portfolio Plus Non-QM program. Eligible funds can be held in checking, savings, stocks, bonds, mutual funds or retirement accounts. To calculate, take the total amount of eligible assets, divide by 120 months and add the result to the “other income” section of your 1003 – it’s …

Sequoia Investor Pro: Qualify with no income, employment or reserve disclosure

Investors can qualify for Sequoia Investor Pro with no income or employment disclosure and no reserve requirement. There are two ways for borrowers to qualify: Debt Service Coverage Ratio (Gross Rent/PITI) >= 1.15; or No Ratio (not using subject property rent to qualify). This proprietary program is available in 3/1 and 5/1 ARMs, and has an Interest-Only option available. Cash to close must be verified …

New Product Alert – No Investor Approval Required!

Newfi is excited to announce the addition of a new proprietary Non-QM product called Sequoia Portfolio Expanded. Sequoia Portfolio Expanded has all the great features of the Sequoia Portfolio Plus, as well as higher LTV limits, lower credit scores and shorter recovery time between major credit events. Borrow up to $2.5 million Multiple options to meet tradeline requirements 3-year seasoning for …