Agency LLPA Waivers - Update
Effective Monday, February 27, 2023, the Agency LLPA Waiver will automatically be applied for Best Efforts commitments when locking the loan on the client portal. Clients must select the AMI Percentage with the First Time Home Buyer and/or Manufactured Home.
Clients may now contact the Registration Desk to receive the Agency LLPA Waiver on:
- High Needs Rural property
- Rural Tract property originated by Small Financial Institutions
Step One: Correspondent Clients should register or lock the loan on the client portal.
Step Two: Client to contact (phone or email) the Registration Desk and advise Newrez that the loan/borrower meets eligibility requirements.
Step Three: The pricing desk will adjust and confirm for the applicable LLPA credit. An updated confirm will be posted to the client portal.
Note: The loan must meet the eligibility requirements at the time the loan is purchased in order for the improved pricing to be applicable
Agency LLPA Waivers on bulk loan delivery will be coming soon. In addition, High Needs Rural property and Small Financial Institutions will be available on our client portal soon.