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Announcement 2020-028: Jumbo Products and HELOC Suspension

Jumbo and HELOC products suspended effective immediately.

Jumbo product suspension

In these challenging times, NewRez remains committed to the health, safety and prosperity of our clients, customers and employees. Like many participants in the mortgage industry, NewRez continues to take measures to adapt to the market disruption brought about by the spread of the COVID-19 virus.

 

As part of these efforts, we would like to alert you to the following changes. Effective immediately, NewRez is suspending all new submissions, registrations and locks (including extensions/relocks) on the following Jumbo products. Existing locked pipeline loans will not be impacted.

  • Dream Big
  • Jumbo Series C
  • Jumbo Series D
  • Jumbo Series H
  • Jumbo Series I

 

heloc suspension

Effective immediately, NewRez is also suspending all new locks on HELOC products.

 

We understand that this may create disruption and apologize for any inconvenience.