NewRez Credit Policy is making the following updates and clarification as noted below, effective immediately.
Co-ops – Home Possible and HomeReady
Co-ops have been added to Section 4.2 Ineligible Properties to further clarify that co-ops are not permitted.
Mortgagee Clause
The mortgagee clause has been updated to reflect NewRez LLC for hazard and flood insurance for all applicable conforming products.
Please reference our Product Profiles page for the changes outlined in this announcement.