Mortgage lending and servicing company NewRez LLC says it has relaunched its non-Qualified Mortgage lending platform for the first time since the COVID-19 pandemic began in March 2020.
“As we look ahead to a healthy and growing non-agency and non-QM market, we are excited to provide options to highly qualified and strong borrowers that sit outside the traditional agency guidelines,” says Baron Silverstein, president of NewRez.
Through its SMART Non-QM Loan Series, NewRez has built a suite of multiple distinct mortgage products that meet the various needs of creditworthy borrowers who may not otherwise satisfy conventional financing requirements. Those who may be able to benefit from NewRez’s non-QM products include borrowers that fall just outside the qualified mortgage requirement, such as self-employed borrowers, bank statement or asset qualifiers, real estate investors, prime borrowers, and more.
“Our product suite is differentiated with various options to fit specific borrower criteria and needs,” says Jeff Gravelle, chief production officer of NewRez. “Our non-QM borrowers will also benefit from our experience in servicing these loans with our in-house servicer.”
NewRez operates multiple lending channels, including direct to consumer, joint Venture, wholesale and correspondent. The servicing business operates through NewRez Servicing, the performing loan servicing division, and Shellpoint Mortgage Servicing, the special servicing division.
Photo: Baron Silverstein