Newfi Offering 1099 Option to Help Qualify More Borrowers

Newfi is making it easier for borrowers to qualify using its Sequoia Portfolio Plus and Expanded products, using 1099 income documentation, instead of just using bank statements or asset depletion. The Form 1099 option is designed for borrowers who receive one of more 1099s per year, and can be combined with other types of full doc income. To use non-1099 …

Newfi Growing in the East – Wendy Licis Joins to Lead Expansion

Wendy Licis has joined NewFi Lending as Divisional Vice President.  Wendy is  focused on growing wholesale and non-delegated production.  Licis is a senior executive with 30 years of mortgage lending experience spanning all channels; most recently she lead successful teams at Suntrust, Primary Capital and Ditech. Licis is uniquely positioned to expand Newfi’s footprint. “We are excited to have Wendy …

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

Do you have borrowers looking for lower initial payments? Newfi’s Sequoia 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 …

Newfi Prioritizes Making it Simple for Brokers

Newfi Wholesale prioritizes making it simple. We know you have options, and we value all of the brokers who work with us. Our reputation in the industry often focuses on our proprietary Non-QM products, and our innovation in crafting unique product guidelines. But Newfi doesn’t stop there. Here’s a brief overview of some of the ways we make it easy …

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 …

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 …

Customizable Flyers for Mortgage Brokers

We’re pleased to announce that we now have customizable flyers for mortgage brokers and other partners to use to market Newfi Wholesale products without any kind of branding. The flyers are in a Microsoft Powerpoint format, to make it easier for brokers to edit language, add disclaimers, add pictures, or anything else you can imagine. To edit these files, you …