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Announcement #2019-023: Conventional and Government Updates

Updates to Conventional and Government effective immediately.

NewRez is making the following updates and clarifications as noted below, effective immediately.

 

Dual roles - loan originator acting as buyer's agent

The following profiles have been updated to allow transactions where loan officers who are appropriately licensed in the state of CA or FL are acting as the buyer's agent. A copy of the FL Disclosure of Conflict of Interest or CA Dual Capacity Disclosure is required to be provided by the correspondent.

  • Conventional
  • Home Possible
  • HomeReady
  • FHA
  • VA
  • USDA

 

FHA Updates

FHA profiles have been updated to remove HPML loans as inelgibile and sweat equity has been added as an ineligible asset for clarification.

 

Conventional Updates

The conventional profile has been updated to clarify FHLMC's CHOICEHome and GreenCHOICE programs are ineligible at this time.

 

Please reference the NewRez website for the changes outlined in this announcement.