Bulletin 2022-067 Conforming Co-ops

Conforming Co-ops

Newrez LLC "Newrez" Approved Correspondent Clients: Newrez will now allow co-ops for products listed below. These changes are effective September 1, 2022.


Eligible Products

  • Fannie Mae and Freddie Mac Conforming Products
  • Fannie Mae HomeReady
  • Fannie Mae RefiNow
  • Freddie Mac Refi Possible


Ineligible Products

  • Freddie Mac Home Possible


State Eligibility

  • Delegated Clients
    • Five (5) Boroughs of New York (Bronx, Brooklyn, Manhattan, Queens, and Staten Island) and Nassau, Rockland, Suffolk, and Westchester counties
    • New Jersey (Bergen, Essex, and Hudson Counties)
  • Non-Delegated Clients
    • New Jersey (Bergen, Essex, and Hudson Counties)


 Project Review Process

  • Co-ops must be approved by the Newrez Project Review Department (PRD) and include the Project Review Submission Checklist.
  • RefiNow and Refi Possible loans do not require project review, but the following is still required:
    • Must confirm the project is not a condo hotel or motel, houseboat, timeshare, or segmented ownership project.
    • Must confirm the appropriate property and flood insurance is obtained


Required Documents


The following original documents must be sent to:


Deutsche Bank National Trust Company
1761 East St. Andrew Place

Santa Ana, CA 92705-4934

  • Note
  • Stock Certificate
  • Proprietary Lease or Occupancy Agreement
  • Irrevocable Stock Power- Stock Power the same
  • UCC1 certified copy
  • UCC3
  • Assignment of Proprietary Lease
  • Assignment of Recognition Agreement

Client must ensure that copies of the original documents listed above are sent with the file for purchase along with the following documents:


  • Consent to Transfer (on Purchase loans only)
  • Recognition Agreement
  • Assignment of Proprietary Lease
  • Recognition Agreement
  • Assignment of Security Agreement and Other Collateral Documents




  • Full Review - $350 (not on approved list or on approved list and expired)
  • FastTrack Review - $250 (on approved list and not expired)


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