Announcement 2025-037 Yosemite Jumbo AUS Program
Newrez LLC "Newrez" Approved Correspondent Clients; Newrez is excited to announce a new Jumbo AUS program for Delegated Correspondents. This new product offers an ideal solution for borrowers who require flexibility and higher loan limits, all while adhering to Agency AUS guidelines.
Program Highlights:
- Purchase, Rate and Term, Cash Out Refinance
- Primary, Second Home and Investment Properties
- Fixed Rate 20-, 25- and 30-Year Terms
- 1-4 Unit Properties
- Minimum loan amount: Conforming + $1
- Loan Amount: Up to $3,500,000
- Minimum FICO: 660
- Maximum LTV: 90%
- Debt-to-Income (DTI) Ratio: Up to 49.99%
- Cash Out is unlimited, provided they do not exceed the maximum allowable LTV for the product.
Delivery Process
- Register your loan to obtain a Newrez loan #
- Client will Underwrite and Close loan to Newrez guidelines.
- Submit the Credit and Closing file and data tape, to include Lender Name, Product Name and date of Guidelines, Lender Loan Number and Newrez loan number, to Clayton via their Focus website: https://focus.covius.com/
- Use the naming the below naming conventions to ensure documents are delivered correctly:
- LoanNumber_DocumentName
- LoanNumber – DocumentName
- LoanNumber DocumentName
- Review and Clear any exceptions (conditions) through the Focus website.
- Once ALL conditions are cleared and a grade of A or B is issued Clayton will send Newrez the loan to purchase
- Purchase Advices will be available through our website or our automated process.
- Final Docs will be delivered via the standard Newrez Process