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.
Read MoreFannie 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.
Read MoreEffective immediately, for all new locks, the following LTV limits apply for VA IRRRL transactions:
Read MoreNewRez will be aligning with Fannie Mae Lender Letters LL-2020-03 and LL-2020-04 and Freddie Mac Bulletin 2020-27, dated July 9, 2020, in extending the temporary underwriting and appraisal policies previously announced for application dates through August 31, 2020.
Read MoreEffective immediately, the below updates are being made to the FEMA Declared Disaster Policies and Procedures. The Policies and Procedures document on the NewRez intranet will be updated in the near future.
Read MoreEffective immediately, NewRez is aligning with the updates announced in Fannie Mae’s Selling Guide Announcement SEL-2020-03.
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