Client Guide Updates
Newrez LLC “Newrez” Approved Correspondent Clients, Newrez is updating Chapter 3 Registrations & Commitments, of the Operations Client Guide to streamline and clarify some registration/lock policies.
Highlights of the changes made include the following:
- Chapter 3A, Flow Registrations, and Chapter 3B, Bulk Commitments, have been combined into a single section.
- Late Delivery Relock Policy formally located in A315 section E, has relocated to section 312 and has been revised to follow the standard relock policy.
- Closed Loans Suspended greater than 30 days formally located in A315 section F, has been relocated to section 313 and has been revised to now be subject to the worse of total accrued suspense fees or worse case relock pricing.
The changes are effective immediately.