Announcement 2026-027 Closed End Second Updates
Closed End Second Updates
Newrez LLC "Newrez" Approved Correspondent Clients, the Closed End Second guidelines have been updated by raising the minimum appraisal guidelines from $350,000 to $400,000 effective for all new locks on or after September 15, 2026.
In addition, the Ineligible Property Types have been updated.
Appraisals: Primary Valuation Requirements
The minimum loan amount requirement for Appraisals has increased from $350,000 to $400,000. Refer to the Guidelines for complete detail on appraisal requirements.
Ineligible Property Types: Moved this section to the product summary and added the following:
- Geodesic Dome Homes
- Unique Property Types