Read our Latest Announcements

Announcement 2020-098 - California Wildfires (DR-4558-CA)

On 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.

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Announcement 2020-096 - HOA Certification Policy Updates

Effective immediately, the following forms must be used for FHA or Conventional condominium projects.

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Announcement 2020-095 - West Virginia Lending Requirements

The following guideline changes have been made to Conventional and Government products to accommodate West Virginia state lending regulations. The state regulations (Code R. Section 106-5-11) require lenders to perform a complete assessment of the borrowers’ ability to repay the mortgage based on a full review of borrower’s credit, assets, and income. NewRez, in response, will adjust the product guidelines with overlays for documentation on loan products that are normally non-credit qualifying, such as the FHA Streamline and the VA IRRRL and also place limits on DTI for certain purchase money and refinance products.

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Announcement 2020-094 - Temporary COVID-19 Guidance for All Products

A job aid titled Temporary Underwriting Guidance Job Aid by Announcement has been created, which compiles a list of the announcements, their topics and their summaries, published as a result of temporary COVID-19 guidance.

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Announcement 2020-091 - New SOFR ARMs and LIBOR ARM Discontinuation

Fannie Mae and Freddie Mac are transitioning away from the LIBOR index for their adjustable rate mortgages (ARMs) and will begin using the Secured Overnight Financing Rate (SOFR) as the index. New SOFR products will soon be available.

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Announcement 2020-090 - VA IRRRL LTV Update

Effective immediately, for all new locks, the following LTV limits apply for VA IRRRL transactions:

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