At Newfi Wholesale, we’re constantly adding new features to make your life easier. We’re now providing a variety of flexible options for DU and credit report handling, allowing you the choice to:
- Run DU on the Newfi Wholesale portal. This lets you reissue your existing credit report. No need to use a Newfi Wholesale approved vendor!
- Assign an existing DO casefile to us. If you have already pulled a FNMA DO casefile, you can assign it directly to Newfi Lending, avoiding the need for us to pull a DU and a credit report from an approved vendor! Note that this requires DO sponsorship. To do this, add Newfi Lending ID# 725911 as a dropdown lender in DU.
- Run DU with a fresh credit report. You can pull a new credit report from your credit vendor and then run an initial DU finding on the Newfi Wholesale portal. This allows you to run and view findings for the first time.
- Have us run DU for you. Just like you can now, you can always choose to have Newfi Wholesale run DU for you at the time of underwriting. We will reissue your credit report for you if it comes from one of our approved vendors, or we can pull a new credit report for you if the vendor is not approved.
Note that these options are specific to FNMA conforming loans. For FHLMC loans, Newfi Wholesale can run LP for you using a reissued credit report from an approved vendor, or we can pull new a credit report for you from an approved vendor.
If you have any questions, just contact your Newfi Wholesale Account Manager or call us at (888) 415-1620.