Newfi Now Offering Business Purpose Loans on Sequoia Investor Pro on a Non-TRID Basis

Newfi continues to innovate! Ask your account executive about Business Purpose Loans through our Investor Pro series. What is a Business Purpose loan? Loan is intended solely for business purpose – lower interest rate, purchase new investment property Not intended for personal, family or household purposes – any cash-out must be applied solely for business purpose. 1-4 unit investment properties …

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 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. …

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 …

Submit your 12- or 24-Month Bank Statements to Newfi’s Bank Statement Desk

We understand that processing bank statement loans can have its challenges. At Newfi Wholesale, we are here to help! Submit your 12 or 24 month statements to our Bank Statement Desk PRIOR to your loan submission to Newfi. We will review your bank statements, and determine the gross deposits that we will consider in the income calculation. Final income determination will be …

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% …