Bulletin 2021-095 Conforming Loan Limits Update on Best Effort Locks

Conforming Loan Limits Update on Best Effort Locks

Newrez LLC "Newrez" Approved Correspondent Clients: please note that effective with loans locked on or after Wednesday, October 13, 2021, Newrez will begin supporting increased loan limits for all conforming products except for the RefiNow and Refi Possible Progams. The new loan limits will be:


  • 1 Unit - $625,000
  • 2 Unit - $800,250
  • 3 Unit - $967,250
  • 4 Unit - $1,202,000


Please note, there are no changes for the loan limits in Alaska and Hawaii.


Newrez will accept DU Approve/Ineligible and LPA Accept/Ineligible decisions, when the “Ineligible” result is solely due to the loan amount being in excess of the 2021 limits, but is within the limits noted above. Newrez will require a full appraisal on loans locked as conforming with balances above $548,250 regardless of the DU/LPA decision. Appraisal waivers are not acceptable.


Loans must have a Note Date of October 1, 2021 or later.


Please note that loan limit changes are for conforming best effort loans only. Changes to FHA, VA and USDA loan limits and Newrez’s acceptance of loans at increased limits for bulk transactions, will be announced at a later date.


Also note that all pricing engines may not reflect the updates and therefore the Newrez website should be utilized for pricing and locking. When locking loans at these increased loan limits, do not enter the DU Approve/Ineligible decision. The AUS decision will be entered by the Newrez audit team when loan is submitted for purchase.


The Product Profiles will not be updated with this information.

Loan Level Pricing Adjustments (LLPAs)


Conforming Loan Amounts >$548,250 <=$625,000

Purch/Rate Term                   -0.200
Cash Out                                -0.500