Newfi Lending
2100 Powell Street, suite 730, Emeryville, CA 94608
https://newfiwholesale.com/
Internal Reviews
(0 reviews)
Total loans closed with Loan Factory
45
Total loans closed with Loan Factory (past 12 months)
17
Lender overview
Basic information
CPL Loss Payee Clause Nexera Holding LLC ISAOA/ATIMA 2100 Powell Street, Suite 730 Emeryville, CA 94608 Loan #________________ Insurance Loss Payee Clause For Agency, Olympic CES, and Glacier CES: Cornerstone Home Lending Its Successors and/or Assigns ATIMA P.O. Box 961254 Fort Worth, TX 76161 Loan #________________ Insurance Loss Payee Clause For Non-QM (Sequoia & Rainier) and Jumbo (Biscayne, Lassen & Teton): RUSHMORE SERVICING Its Successors and/or Assigns ATIMA P.O. Box 7729 Springfield, OH, 45501-7729 Loan #________________
CPL Loss Payee Clause Nexera Holding LLC ISAOA/ATIMA 2100 Powell Street, Suite 730 Emeryville, CA 94608 Loan #______________
Lock policies & Fees
Lock Policies
5:00 for NonQM and 3.30 for Jumbo
For Non-QM (Sequoia, Rainier) loan programs a maximum of fifteen (15) days of Rate Lock Extensions are allowed. For AUS Jumbo loan programs a maximum of thirty (30) days of Rate Lock Extensions are allowed per loan.
Worse case + .375 if within 30 days of initial lock expiration (or) no cost if relocking after lock has expired for 30 days
Lender's niche & Overlays
Waive borrowers housing history - provide AUS and we don’t need to document the borrowers housing payments. This is great for a borrower that pays all cash or lives rent free. Not available on DSCR loans.
Use 1007 to wash the PITI on departing residence - we use 75% of the 1007 rents and can wash the PITI. (cannot be used as positive income) No rental agreement or security deposit needed, or proof departing residence is listed for sale.
No minimum tradelines -
If borrower has 3 credit scores we don’t require tradelines.
Strong pricing
2-4 units up to 90% LTV on primary and 80% on investment
Gift on Investment ok
Second liens up to 90% CLTV - 12 months bank statements or full doc, Primary, second home & investment property allowed.
Primary 20 yr fixed Second starting at 7.625% and we allow 5% in fees / no appraisal
True blended ratios up to 75% LTV
Delayed financing
Only need 3 credit scores – no tradelines required
We allow rent free borrowers
Use business funds for everything
Only need second appraisal if > $2M
Use IRA for income no distribution letter needed and doesn’t have to be of retirement age
Use 1007 departing residence, no lease required
Loans up to $5M
2/1, 1/1 buydowns up to $3.5M
Run AUS to waive housing history
Business purpose loans in 38 states – no license required
Use rents to qualify on a primary 2-4 unit as long as not a FTHB
W-2 to 1099, only need one month paystubs, ne seasoning to be 1099 employee
Only need 1 year S/E, 2 years not required
If you need login credentials to price loans let me know.
HELOAN is not available in TX
Lender turn time
2
1
1
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