NewRez will be aligning with Fannie Mae Lender Letters LL-2020-03 and LL-2020-04 and Freddie Mac Bulletin 2020-35, dated August 27, 2020, in extending the temporary underwriting and appraisal policies previously announced for application dates through September 30, 2020.
Read MoreAs a follow up to Announcement 2020-099 issued on August 26, 2020, we are lifting the pause in closings and fundings of loans in the state of Louisiana. Loan closings and fundings may resume for the previously announced impacted counties.
Read MoreSummary Secured Overnight Financing Rate (SOFR) Index ARM products will be available for new applications and registrations on or after September 1, 2020. The final day for applications or registrations for LIBOR Index ARM products will be August 31, 2020. All LIBOR Index ARM loans must close or fund by November 30, 2020 and may not be switched into the new SOFR Index ARM products.
Read MoreOn August 22, 2020, FEMA announced a Major Disaster Declaration pertaining to fires in California, with an incident date of August 14, 2020. No incident end date has been declared at this time.
Read MoreEffective immediately, NewRez is pausing the closing and funding of loans in the certain counties and parishes in the path of the hurricane in Texas and Louisiana until further notice.
Read More