NEW! Glacier Investment Low-Doc Loan Program

Newfi Wholesale News, Products

Here’s a new non-QM product for real estate investors who don’t qualify for typical agency loans — and a great NICHE product to help you stand out.

Introducing the Glacier Investment Low-Doc Loan Program!

Low Doc Investment Loan Flyer

Click Here for a PDF of the Product Flyer

This loan product is great for investors who are asset rich, but who have complex tax returns or a high debt-to-income ratio. With non-QM financing, you can improve your borrower’s cash position.

Look at these features:

  • Loan amounts up to $1,500,000
  • Low documentation requirements
    • No income verification
    • No employment verification
    • No reserves
    • Verify assets needed to close only
  • No maximum number of financed properties
  • No DSCR requirement
  • Foreign Nationals are OK
  • Only 24 months seasoning from foreclosure, short sale, deed in lieu, and bankruptcy
  • Non-warrantable condos considered
  • 3/1 ARM, IO option available

See the full loan program guidelines here:
Glacier Investment Low-Doc Loan Program Guidelines

For more information, call the Newfi Wholesale team at 888-415-1620.

NEW! Glacier Flex Non-QM Loan Program

Newfi Wholesale News, Products

ARE YOU turning away business that doesn’t qualify for agency loans?

Now you can say “YES” more often — and monetize more deals — with the Glacier Flex Non-QM Loan Program.

Non-QM Loan Flyer

Click Here for a PDF of the Product Flyer

This is a NICHE product with more lenient credit criteria that you won’t find elsewhere. Take a look:

  • Jumbo loan amounts:
    • $1,000,000 to 90% LTV
    • $1,500,000 to 85% LTV
  • Flexible credit standards: Only 24 months of seasoning from foreclosure, bankruptcy, short sale, or deed in lieu
  • Alternative income doc: bank statement programs for self-employed borrowers
  • Non-warrantable condos considered
  • Owner-occupied and second home only (for investment properties, check out our investment and low-doc investment non-QM loan programs)
  • 30 year fixed and 5/1 ARM terms (Interest-only loans available on 5/1)

See the full loan program guidelines here:
Glacier Flex Non-QM Loan Program Guidelines

Who is Glacier Flex for?

Glacier Flex is ideal for:

  • Self-employed borrowers who need to use bank statements to establish incomes
  • Creditworthy borrowers with relatively recent negative credit events
  • Borrowing for non-warrantable condos

How does Glacier Flex compare to our Denali Non-QM program?

Glacier Flex is an alt-doc program that makes it easier for borrowers to qualify. Denali allows for higher LTVs and better pricing, but it is a full-doc program. Read more about the Denali Jumbo & Non-QM Loan Program.

For more information

For more information, call the Newfi Wholesale team at 888-415-1620.

Check out our other wholesale loan products!

 

Warburg Pincus Invests in Nexera Holding dba Newfi Lending

Newfi Wholesale News

Nexera Holding LLC dba Newfi Lending, a technology-enabled residential mortgage lender, today announced that funds affiliated with Warburg Pincus, a global private equity firm focused on growth investing, have agreed to make a significant growth investment in the company. The investment will be used to further advance Newfi Lending’s technology platform and accelerate its expansion plans. Terms of the transaction were not disclosed.

Founded in 2014 by Steve Abreu and a team of industry veterans, Newfi Lending is focused on building business channels that combine proprietary technology, an efficient operating model, and a personal touch to reshape the way customers shop for and close a mortgage. Nexera operates under two national brands: Newfi for consumer-direct business and Newfi Wholesale for wholesale lending. Newfi is a 5-star rated lender that simplifies borrowing and reduces costs through its secure and streamlined mortgage lending technology. Newfi Wholesale is focused on providing its wholesale partners with consistently low pricing and a growing range of innovative lending products.

“We are proud to have Warburg Pincus behind our effort to build a premier lending platform that will uniquely drive diverse mortgage products across multiple business channels,” said Newfi Lending CEO Steve Abreu. “Our focus has been to transform the mortgage process while driving operating discipline and profitability. With this investment, we now have the backing to scale those fundamentals nationally.”

“Steve and the team at Nexera are disrupting the traditional mortgage market by building a next-generation origination platform that simplifies the mortgage process end-to-end for customers, providing lower costs and faster processing,” said Eric Friedman, Principal, Warburg Pincus. “We are pleased to partner with Nexera’s management team and leverage their deep industry experience to build an innovative mortgage business of scale.”

About Newfi Lending
Newfi Lending is a multi-channel lender that is setting the standard for efficiency, transparency, and service in the mortgage marketplace. Founded by industry veterans, Nexera is committed to innovation in lending products for both consumers and mortgage brokers under the Newfi and Newfi Wholesale brands. For more information, visit www.newfilending.com. To learn more about Newfi and explore rates, visit www.newfi.com. To learn more about Newfi Wholesale, visit www.newfiwholesale.com.

About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $40 billion in private equity assets under management. The firm’s active portfolio of more than 130 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 16 private equity funds, which have invested more than $58 billion in over 760 companies in more than 40 countries. For more information please visit www.warburgpincus.com.

New Yellowstone Jumbo Loan Program

Newfi Wholesale News, Products

New for 2017: The Yellowstone Jumbo Loan Program

Wholesale Jumbo Loan Program Flyer

Click Here for a PDF of the Yellowstone Jumbo Flyer

  • Loans up to $2 million with FICO of 700+
  • VERY competitively priced
  • Significant price improvement for purchase money loans

Compensation

  • 0.25% rate improvement if borrower signs up for autopay

Features

  • Qualify using primary wage earner’s middle credit score
  • Investment properties OK
  • 100% gift funds for down payment & closing costs OK at <= 80% LTV/CLTV
  • Non-permanent resident aliens OK

How does Yellowstone Jumbo compare to the Denali Non-QM Jumbo?

Yellowstone is a standard jumbo product providing our most competitive rates. Denali is a non-QM program that permits higher LTVs (up to 95%!) and also provides an option for a 40-year terms with a 10-year, interest-only options. Read more about the Denali Jumbo & Non-QM Loan Program.

For more information

Check out the product guidelines or call the Newfi Wholesale team at 888-415-1620!

Check out our other wholesale loan products!

Olympic 1st and 2nd Piggyback

Newfi Wholesale News, Products

Borrowers who use Newfi Wholesale’s Olympic Piggyback can obtain jumbo loan amounts while still getting agency pricing.

What’s exciting about the Piggyback?

  • Avoid cash out pricing & LTV limits on 1st mortgage – take the cash on the 2nd!
  • Avoid mortgage insurance!

Piggyback Loan Flyer

Click Here for a PDF of the Olympic Piggyback Flyer

Product highlights

  • 80/10/10 Purchase or Rate & Term
  • Cash out to 90% CLTV
  • 1st Mortgage Standard or High Balance Conforming
  • 2nd Loan Amounts: $25,000 – $250,000
  • Overlays to FNMA DU:
    • Max 43% DTI
    • Minimum 700 Credit Score
  • 1st Mortgage Terms Offered:
    • Fixed: 10, 15, 20, 30 Years
    • ARMs: 5/1 And 7/1
  • 2nd Mortgage Terms Offered: 15 or 30 Years
  • Primary Residence or Second Home
  • Fully Delegated, and both loans UW concurrently

For more information

See the latest guidelines, or call the Newfi Wholesale team at 888-415-1620!

Check out our other wholesale loan products!