Bulletin 2024-058 Closed End Second Product Summary and Guidelines Updates
Newrez LLC "Newrez" Approved Delegated Correspondent Clients; effective with applications on or after September 19, 2024, the following has been updated.
Minimum Loan Amount
Lowered the Iowa minimum loan amount to standard product restriction of $50,000.
Appraisal
Added the definition and requirements for the exterior property inspection report into the underwriting guide Appraisal section 8A.2.