New Underwriting Guide, Product Profiles, and Overlay Matrix
NewRez LLC "NewRez" Approved Correspondent Clients: please note that NewRez is pleased to announce that we have streamlined and reformatted our Product Profiles and created a comprehensive Underwriting Guide that contains all of NewRez underwriting guidelines for Conforming (agency), FHA, and VA guidelines. Generally, you will no longer have to reference the Fannie Mae or Freddie Mac Selling Guides, or FHA and VA Lender Handbooks.
The Underwriting Guide will contain the following chapters:
- Chapter 1 Conforming
- Chapter 2 FHA
- Chapter 3 VA
- Chapter 4 reserved for future use (USDA)
- Chapter 5 reserved for future use
- Chapter 6 Fraud
- Chapter 7 Disaster Policy
- Chapter 8 Escrow Policy
- Chapter 9 Power of Attorney
In addition, we have created a streamlined Operations Guide which will contain the following chapters:
- Chapter 1 Contact
- Chapter 2 Compliance
- Chapter 3 Registrations & Commitments
- Chapter 4 Client Underwriting Authority
- Chapter 5 Insurance and Loan Documents
- Chapter 6 Prefund Diligence
- Chapter 7 Shipping and Delivery Methods
- Chapter 8 Delivery/Funding Options
- Chapter 9 Post Funding Administration
- Chapter 10 Definitions
On January 20, 2021, the new Product Profiles, Underwriting Guide, Operations Guide and Overlay Matrix will be posted to the secured portion of our site.