Newfi’s Sequoia Expansion – It’s a Big Deal

Newfi Wholesale Jumbos, Products

Newfi Wholesale has expanded its guidelines for Sequoia Portfolio Plus, making it easier than ever to qualify more Jumbo borrowers. Here are some of the features of our guideline expansions: One year income documentation OK for Self-Employed and basic W-2 No minimum trade line requirement with 3 credit scores, LTV < 75% and 24 month housing payment history. LTV increased …

Make Sense Lending is Back

Newfi Wholesale Products

Newfi Wholesale works hard to make sure we have the solutions that fit your needs: Sequoia Portfolio Plus offers flexible in-house exceptions and only 4 years seasoning on BK and foreclosure. 95% CLTV Purchase with our Olympic Piggyback – down payment can come from all gift funds. Biscayne Jumbo is your pick for loans up to $3 million. Fully delegated …

Ask Newfi About In-House Exceptions for Jumbos

Newfi Wholesale Jumbos, Products

You asked and we listened. Newfi makes it easy to request in-house exceptions for jumbo loan amounts. Submit your exception request here. Typical exception requests on the Sequoia Portfolio Plus include: Credit Score Max Cash Out Credit History Payment Shock Non-Warrantable Condo DTI Loan Amount And don’t forget, besides the in-house exceptions on our Portfolio Plus, we offer a Fixed …

Newfi Wholesale Hits Target with Near-Miss Jumbos

Newfi Wholesale Jumbos

It can be frustrating when one or two guidelines block a perfect borrower from qualifying for a perfect jumbo loan. We call those Near-Miss Jumbos. And they’re why we created Sequoia Portfolio Plus – so more of those jumbos can find a fit. With Sequoia, we make all credit decisions and exceptions, which means flexible qualification and faster credit decisions. …

Newfi Wholesale’s Scenario Submission Simplifies and Streamlines

Newfi Wholesale Non-QM, Products, Why We're Great

Newfi Wholesale’s Submit a Scenario feature is a simple and fast way to to find the best product fit for your borrowers. Conveniently located at the top of our website, Submit a Scenario guides you through a webform to collect basic information about your unique loan. Along with the regular data fields, there is space to share compensating factors, and …

Top 10 Reasons to Send Your Tough Loans to Newfi Wholesale

Newfi Wholesale Non-QM, Why We're Great

Do you have a loan that’s tough to get approved? Send your loan to Newfi Wholesale, where we have a plethora of non-QM programs to help you get your loan closed: Interest Only. Fixed rate, 40-year loans with the first 10 years making interest only payments, and then 30 years of full PITI Pre-approvals to ensure your borrowers are well …

Introducing Sequoia Portfolio Plus

Newfi Wholesale Products, Why We're Great

See Sequoia Guidelines (.pdf) Click here for the Sequoia flyer (.pdf) As a portfolio product, we can make exceptions to many of these criteria, provided there are compensating factors in reserves, income, or other areas. All kinds of borrowers are suitable for Sequoia, but you may find the most success with difficult-to-qualify borrowers like: Borrowers should have strong credit and …

FHA loans for credit scores as low as 580

Newfi Wholesale FHA Loans, News, Products

With our new FHA guidelines, we’re offering FHA loans for an even wider range of credit scores. Here’s what special about our FHA loans: Call your Account Manager, or reach out to the Newfi Wholesale team at 888-415-1620!   Share this Post

How to run DU in the Newfi Wholesale portal

Newfi Wholesale News, Why We're Great

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: 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, …

New FHA Loan Limits for 2018

Newfi Wholesale FHA Loans, News

HUD has increased loan limits for FHA-insurable mortgages in 2018! Some of these increases have been substantial, which may help you qualify more borrowers. We’re seeing increases from from $275,665 to $294,515 in low cost markets and from $636,150 to $679,650 for high cost markets. For example, King County in Washington State increased from $592,250 for a single family residence …