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 BK, foreclosure, short sale or deed in lieu
  • Smart asset depletion guides – assets divided by 120 months
  • One year income documentation OK for Self-Employed and basic W-2
  • Relaxed housing payment history
  • Reduced reserve requirements
  • 12- and 24-month bank statement program

Since these are proprietary Newfi products, we control all underwriting and make all credit decisions and exceptions, providing flexible qualification and faster approvals. No investor approval required!

Contact your account executive now to get current pricing.

Advanced Broker Toolkit: Portfolio Asset Depletion Income

Newfi is always looking to help you benefit from using our Sequoia Portfolio Plus program. Did you know that Sequoia offers one of THE EASIEST Asset Depletion calculation methods in the industry?

With Sequoia’s Asset Depletion program you can use funds held in checking, savings, stocks, bonds, mutual funds or retirement accounts. By simply taking the total amount of eligible assets and dividing by 120 months, we’re able to add $833 per month to your borrowers income for every $100k in assets.

Sequoia features in-house underwriting, so we can make faster decisions without investor delays.

Here are some other highlights of Newfi’s recent guideline expansions:

  • 12- or 24-month bank statement documentation on jumbo loans up to $2.5 million, personal or business bank statements accepted
  • No minimum trade line requirement with 3 credit scores,
  • LTV < 75% and 24 month housing payment history.
  • 40-year Interest-Only options
  • VRBO / AirBnB rentals allowed
  • Full Doc LTV increased to 90% for Owner Occupied
  • Full Doc 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
  • Good option for borrowers with high ratios that can be alleviated by an aggressive Asset Depletion guideline.
  • Ideal for borrowers who need make-sense exceptions

 


 

WEBINAR: Market and Grow Non-QM Business

Also, if you haven’t signed up yes, make sure to register for Newfi’s webinar on how to market and grow Non-QM business. Join us for a 30-minute webinar where we will present our proprietary Non-QM loan programs.

New Webinar: Non-QM Updates and Marketing Tips

Newfi Lending’s first Non-QM webinar in July was a great success and is back by popular demand! Newfi’s follow-up webinar will share program updates and offer marketing ideas for many of the program’s key features and benefits.

Join us for a 30-minute webinar where we will cover:

  • Recent updates to existing guidelines
  • Marketing ideas to help generate Non-Qm loan volume
    • AirBnB and VRBO properties
    • Asset Depletion
    • Solutions for borrowers with limited credit
    • Borrowers with recent credit events
  • Finding more sources of income to overcome DTI
  • Qualifying jumbo borrowers on 1-yr of income documentation

When: Tuesday, September 25, 2018, 11:30 am PDT

Newfi is Also a Great Option for FHA Programs

Along with being your go-to lender for Jumbo and Non-QM products, Newfi also offers strong pricing and manual underwriting on its FHA program.

Features include:

  • AUS or Manual Underwriting
  • Credit Scores as low as 580
  • Down Payments as low as 3.5%
  • Gift Funds can cover 100% of down payment and closing costs
  • Up to 85% Cash Out
  • Three years seasoning for foreclosure or deed-in-lieu

Newfi also features a FHA Streamlined Refi, with reduced documentation requirements, no appraisal needed, and credit scores as low as 580.

Call your account representatives today to get pricing.

Terrific Jumbo Pricing on Biscayne 7/1 ARM

Newfi is offering some of the best jumbo pricing in the country on its fully-delegated Biscayne product. The 7/1 ARM options have been extremely popular.

Biscayne’s features include:

  • 90% Max LTV
  • $3M Max Loan Amount
  • 2nd Home / Investments Allowed
  • 680 Minimum Credit Score
  • Interest-Only ARMs Available
  • Fully Delegated Underwriting
  • RSU (Restricted Stock Units) Income Allowed
  • Gift Funds Allowed
  • Income from Departing Residence Allowed

Call your account representatives today to get pricing.

Free Webinar – Learn to Capture More Business with Non-QM

Newfi Lending is experiencing tremendous growth with our proprietary, Non-QM program and wants to show you how to grow too!

Join us for a 30-minute webinar where we will cover:

  • Originating bank statement loans
  • Saying yes to AirBnB and VRBO properties
  • Finding more sources of income to overcome DTI
  • Qualifying jumbo borrowers on 1-yr of income documentation
  • Making asset depletion work

When: Tuesday, August 7th at 11am PST

How: Register Here

Don’t miss out on non-QM deals – register today!

Newfi’s Pricing on 5/1 Jumbo is HOT!

Need great pricing on a 5/1 Jumbo? Look no further than Newfi Wholesale!

Check out this scenario, with no added price adjustments:

  • 5/1 ARM Purchase
  • $1.6 million value, $1.1 million loan amount
  • 70% LTV
  • 730 credit
  • 15-Day Closing
  • Fully delegated: no investor-added conditions or timelines

RESULTS:

Take advantage of this deal – get your loans priced now!

Having Trouble Qualifying Self-Employed Borrower?

Tired of saying No? Newfi’s own Sequoia Portfolio Plus will help you say YES! Call your turndowns and tell them you have the loan program that could let them close now!

Sequoia will let you CHECK all the boxes.

  • One-year income for self-employed and W-2 – Check!
  • Personal and Business banks statement loans that really close – Check!
  • Simple Asset Depletion – Check!
  • Missed the matrix and now you need an UW exception? – Check!
  • 40 YR Interest Only – Check!
  • Credit score 660 and down to 640 with exception – Check!
  • Expanded LTV and credit depth – Check!
  • Non-Arm’s length consideration – Check!

Sequoia was created by Newfi and is only offered to our approved brokers. You now have access to one of the best non-QM product in the market.

Call your borrowers who you told no, and help tell them YES! Don’t wait for deals. Call borrowers you already know because you now have a product that can help them.

Call your account manager now and discuss scenarios.

Newfi Wishes You Happy Fourth of July

Newfi Wholesale will be closed for Fourth of July, but information on our product options is still just a click away.

Our website’s scenario submission feature is a great way to get answers. It’s a simple one-page webform, and even gives you space to request exceptions, or upload supporting documents.

So tomorrow, as you’re standing over the grill enjoying time with family and friends, we fully expect you will be thinking about Newfi’s great loan programs, including:

  • Sequoia Portfolio Plus – loans up to $2.5 million with flexible guidelines and in-house exceptions
  • Olympic Piggyback Combos – get up to 95% CLTV with no PMI
  • Biscayne Jumbo – competitively-priced, full-delegated jumbos up to $2.5 million with 680+ credit scores
  • Denali – Non-QM up to 95% LTV jumbo with no MI. Plus 40-year fixed with 10-year Interest-Only period.
  • Glacier – Non-QM with flexible terms and credit criteria
  • FHA – strong pricing, flexible, zero-down payment loans with credit scores as low as 580

We at Newfi hope you have a safe and happy celebration this Independence Day.

No Minimum Tradeline Requirement with Newfi’s Portfolio Plus

Have you ever had that perfect Jumbo client? Great scores, plenty of equity or down payment and good income, but they just don’t meet the minimum trade line requirements for most Jumbo loans? We’ve had that borrower too, and our Sequoia Portfolio Plus is the solution!

  • Must have 3 credit scores
  • Owner Occupied properties only
  • 0 x 30 on 24-month housing payment history
  • Max LTV/CLTV of 75% or 15 points under max allowed for loan amount and credit score
  • A minimum 10% borrower contribution has been made by the borrower from their own funds on purchase transactions
  • Allowed on 24 month income documentation only
  • Must have a satisfactory 24-month history of housing payments, borrowers with no current housing expense are not allowed

Some other great features of Sequoia Portfolio Plus include:

  • Loan Amounts to $2.5 million
  • 1 year tax returns or W-2 income qualification
  • Personal or business bank statement income qualification
  • 120-month asset depletion income
  • 40-year fixed rate with 10-year interest only period