Biscayne Delegated Jumbo Now Includes Condos

Daniel Silver Marketing, News, Products

Our Biscayne fully-delegated jumbo loan program is now open to condos!

What are the guidelines for condominiums?

  • No LLPA for condo property type
  • Full Condo Review Required
  • CC&Rs & Bylaws
  • Annual budget
  • E&O and Liability insurance minimum $1MM
  • Projects with litigation are ineligible
  • Minimum square footage 400
  • New projects ineligible
  • Low/Mid/High rise are eligible
  • Max LTV 85%. LTV > 80% requires 740 FICO
  • $2MM max loan amount

What’s special about the Biscayne Jumbo?

  • Fully delegated for fast closing — no investor-added conditions or timelines
  • Very aggressively priced
  • Qualify with RSUs

Read all about the Biscayne Delegated Jumbo Loan Program and get the latest guidelines.

For more information

Call your Account Manager, or reach out to the Newfi Wholesale team at 888-415-1620!

Check out our other wholesale loan products!

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We’re Updating Our Broker Portal!

Newfi Wholesale News

Newfi Wholesale is excited to announce that we will be releasing a significant update to our broker portal.

While the core functionality and terminology will remain mostly unchanged, you will benefit from the following enhancements:

  • Look and Feel Improvements.
  • The Status and Agents Page clearly lays out the path of the loan from the 3.2 file upload though closing. It also includes details on the current contacts for the loan, and allows the user to assign a loan officer or processor to the file.
  • The Rate Lock Page outlines the current terms of the lock and offers a link to download the lock confirmation.
  • The Disclosures Page provides details for the loan estimate and closings disclosures. It also includes important dates and details on any re-disclosures that have been sent to the borrower.
  • The Conditions Page displays any cleared or outstanding conditions with the option to upload and assign documents directly to the condition itself. You will still have the option of uploading a bulk set of conditions through E-Docs.

We are confident you will be happy with these updates and your Newfi team is here at 888-415-1620 to answer any questions.

For a user guide showing step-by-step instructions to these updates, please click here: Portal User Guide

As always, thank you for your continued business and support of Newfi Wholesale. We truly appreciate your partnership!

For more information

Call your Account Manager, or reach out to the Newfi Wholesale team at 888-415-1620.

Check out our Newfi Wholesale loan products!

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Self-Employed Borrowers? No Problem! We’ve Expanded Biscayne Delegated Jumbo Guidelines

Daniel Silver Marketing, News, Products

Our Biscayne fully-delegated jumbo loan program is now open to both self-employed and W2 borrowers!

What’s considered a self-employed borrower?

Borrowers are considered self-employed when their ownership interest is 25% or higher.

What are the guidelines for self-employed borrowers?

  • Max DTI: 40%
  • Max LTV/CLTV: 80%
  • Max loan amount: $1.5 million
  • Max 1 business entity per borrower, 2 business entities per loan transaction (see our Yellowstone Jumbo for more complex situations)

What’s special about the Biscayne Jumbo?

  • Fully delegated for fast closing — no investor-added conditions or timelines
  • Very aggressively priced
  • Qualify with RSUs

Read all about the Biscayne Delegated Jumbo Loan Program and get the latest guidelines.

For more information

Call your Account Manager, or reach out to the Newfi Wholesale team at 888-415-1620!

Check out our other wholesale loan products!

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9/26 Webinar: How & When to Finance Residential Investment Properties with Commercial Loans

Daniel Silver Events

Small Balance Commercial Webinar

Want to build your business by using commercial loans to finance 1-4 family residential investment properties? Learn how with this webinar!

Join us Tuesday, September 26th at 12:30pm PT / 3:30pm ET for our the webinar “How & When to Finance Residential Investment Properties with Commercial Loans.” Rebecca Kasow, VP Commercial at Newfi Wholesale, will be presenting.

The webinar will cover:

  • Differences between commercial and residential loans on investment properties
  • How broker compensation can be more favorable for commercial loans
  • What scenarios work best for a commercial loan
  • How to get a commercial loan on a 1-4 family residential property
  • How Newfi Wholesale can help

Register here for the webinar!

Register for the Webinar!

For more information

For more info about commercial lending with Newfi Wholesale, contact Rebecca Kasow at (510) 907-3462.

See previous webinars in our series

See our previous Small Balance Commercial Webinars on YouTube.

Check out our other wholesale loan products!

Improved Guidelines for Biscayne Delegated Jumbo

Daniel Silver News, Products

We’ve improved the guidelines for our Biscayne fully-delegated jumbo loan program!

What’s new for Biscayne Jumbo?

  • Higher loan amounts, up to $2.5 million!
  • Higher LTVs:
    • 90% LTV purchase
    • 85% LTV rate & term
    • 80% LTV cash out (with cash out up to $350,000)
  • Lower minimum credit scores:
    • 680 for purchase and R/T
    • 700 for cash out

Read all about the Biscayne Delegated Jumbo Loan Program and get the latest guidelines.

For more information

Call your Account Manager, or reach out to the Newfi Wholesale team at 888-415-1620!

Check out our other wholesale loan products!

Three Ways to Great Jumbo Loans

Newfi Wholesale Products, Why We're Great

Newfi Wholesale gives you 3 great jumbo loan options for all kinds of borrowers!

1) For a Fast Close: the Biscayne Delegated Jumbo

  • Close quickly
  • Loans up to $2.5 million
  • Fixed rate or ARM
  • Up to 90% LTV for Purchase
  • Up to 85% LTV for Rate & Term
  • Up to 80% LTV for Cash Out
  • Fully delegated: no investor-added conditions or timelines
  • Learn more about the Biscayne Jumbo

95% LTV Wholesale Mortgages

Click Here for a PDF of the “3 Ways to Jumbo” Flyer

2) For Flexible Terms: the Denali Non-QM Jumbo

  • Loans up to $1.5 million and 95% LTV, no MI
  • 40 year fixed rate mortgage with 10 year interest-only available
  • Unlimited financed properties for LTV of 70% or below
  • Up to 50% DTI
  • Shorter seasoning requirements from major credit events
  • Credit scores as low as 600 at reduced LTVs
  • NOO up to 85% LTV, no MI
  • Learn more about Denali Non-QM

3) For Self-Employed Investors: the Glacier Investment Non-QM

  • Business or personal bank statement options available
  • Credit Grade A : 24 month seasoning for bankruptcy. Up to $2 million loan amount
  • Credit Grade A- : No seasoning required for foreclosure, short sale, or deed in lieu (must be settled). 24 month seasoning on
    bankruptcy. Up to $1 million loan amount
  • 5/1 ARM with interest only option or 30 year fixed rate
  • DTI up to 50%
  • Bank statement programs also available for owner occupied and second homes
  • Learn more about the Glacier Investment Low-Doc

For more information

Call your Regional Account Manager or call the Newfi Wholesale team at 888‑415‑1620!

Check out our other wholesale loan products!

Newfi Wholesale becomes FHA Approved Lender

Daniel Silver News

Newfi Wholesale is now an FHA-approved lender!

In our quest to provide brokers with the products they need, Nexera Holding LLC dba Newfi Wholesale is now an approved FHA lender, with all underwriting completed by one of our Direct Endorsement Underwriters!

Check out our low pricing on LoanSifter!

Call your Account Manager or contact Newfi Wholesale Support at 888-415-1620 for details on:

  • FHA Streamline Refinance
  • FHA High Balance
  • FHA Fixed Rate
  • FHA Adjustable Rate

 

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Our Commercial Property Loans Cover All Kinds of Borrowers

Daniel Silver Products, Why We're Great

Small Balance Commercial Mortgage Programs

Newfi Wholesale’s commercial real estate loan programs create smoother, faster, more confident closings for all kinds of non-bank borrowers!

Our commercial mortgage programs:

1) Full Doc

  • Maximum LTV for multifamily & mixed-use residential properties: 80%
  • Maximum LTV for all other properties: 75%
  • BEST FOR: Credit-worthy investors or business owners looking for an alternative to restrictive bank financing

Small-Balance Commercial Real Estate Loan Programs

Click Here for Small-Balance Commercial Loan Programs Flyer

2) Lite Doc

  • Maximum LTV: 75%
  • BEST FOR: Investors who may not be able to disclose certain financial information or whose properties are more valuable than a tax return might show

3) Stated Income

  • Maximum LTV: 75%
  • BEST FOR: Business owners looking for an alternative to restrictive bank financing

Options for all commercial real estate loan programs

  • Loan Amount: $250K up to $3 million
  • Loan Purpose: Purchase, Cash Out, Refinance
  • Loan Product: 5-Year and 7-Year Hybrid
  • Rates: 6-9%
  • Amortization: 20, 25, 30 years
  • Minimum Middle Credit Score: 650
  • Eligible Markets: Top 200 MSAs
  • Eligible Borrowers: U.S. Citizens, Permanent Resident Aliens, Legal Entities
  • Index: Wall Street Journal Prime Rate
  • Property Types Tier 1 : Multifamily & Mixed-Use (Residential)
  • Property Types Tier 2 : Mixed-Use (Commercial), Office, Retail, Light Industrial, Self-Storage, Restaurant, Day Care, Warehouse, Automotive, Mobile Home Parks
  • Standard Prepayment Fees: 5% For First 3 Years

For more information

Contact the Newfi Wholesale team now at 888-415-1620!

Check out our other wholesale loan products!

Newfi Wholesale Makes Major Technology Investment

Daniel Silver News

Today we announced that Newfi has partnered with Tavant Technologies to accelerate the development of our digital platforms, including our next-generation broker portal. Tavant has deep experience in the mortgage domain, and we’re excited to leverage their expertise as we continue with our rapid growth.

What will this mean for mortgage brokers like you?

  • Superior pricing engine delivering immediate results across our diverse product mix
  • Streamlined and intuitive loan submission process
  • Faster document processing & management
  • Real-time pipeline visibility and management tools
  • Seamless communication with the Newfi team
  • More efficient loan processing and shorter closing timelines
We are here to help you grow your business and we will keep you posted on our progress!

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Newfi Wholesale Closed on Labor Day

Daniel Silver News

Newfi Wholesale will be closed on Monday, September 4th, 2017, in observance of the Labor Day holiday.

No locks will be accepted on September 4th.

Have a fun and labor-free Labor Day weekend!