NewRez LLC "NewRez" Approved Correspondent Clients: please note that as announced in Fannie Mae lender letter 2020-10 and Freddie Mac Bulletin 2020-26, NewRez will accept the redesigned URLA and associated AUS specifications based on the timeline below:
January 1, 2021: NewRez will accept the redesigned Form 1003 for loans with applications on or after January 1, 2021.
- NewRez will accept the updated data specification (MISMO V3.4) to register and lock loans on or after January 9, 2021
- Lenders may continue to use the prior (old format) Form 1003 and data specification (V3.2) to deliver, register and lock loans
March 1, 2021: NewRez will require the redesigned Form 1003 for loans with applications on or after March 1, 2021.
Updated Lock Portal (website) enhancements
Beginning January 9, 2021, our lock portal will be updated to allow clients to use the new MISMO V3.4 file to register and lock loans. Client may also continue to use the current MISMO V3.2 file until a format expiration date is established.
To better clarify, we have removed the MISMO V3.2 file upload button from image central and the loan confirmation screen.
For Non-Delegated clients submitting loans for underwriting, we will no longer require the submission of a MISMO V3.2 file with the credit package. Clients may, however, continue to register and lock loans with the MISMO V3.2 file.
The following resources are available for additional information on conventional loans:
Fannie Mae: https://singlefamily.fanniemae.com/delivering/uniform-mortgage-data-program/uniform-residential-loan-application
Freddie Mac: https://sf.freddiemac.com/tools-learning/uniform-mortgage-data-program/ulad
If you have any questions regarding any information in this announcement, please feel free to contact your regional sales manager or client manager.
NewRez Fort Washington Operations – 877-700-4622
NewRez Fort Washington Registration Desk/NT Desks - 866-396-4622
We offer a comprehensive training curriculum on NewRez products and processes, to keep your staff informed of the latest developments in products, technology solutions, compliance issues and process improvements. Each of these programs is offered by our training and development staff on a monthly basis, and is updated regularly to reflect recent changes in the industry.
Visit our training site at: newrezcorrespondent.webex.com