Bulletin 2023-048 Smart Series Product Summaries Updates

Smart Series Product Summaries Updates

Newrez LLC "Newrez" Approved Correspondent Clients; effective immediately, Smart Series Product updates are shown below.


Smart Series  


The following content has been moved from the Underwriting Guide to the Product Summaries:


  • Information for escrow waivers
  • Significant Derogatory Credit


An additional underwriting scenario tool has been added to all Smart Series products. Smart Series products will continue to be manually underwritten by Newrez Correspondent. Correspondent Clients may now use LoanNEX to deliver Smart Series eligibility results. Smart Series loans must include eligibility results from either Loan ScoreCard or LoanNEX.


To get approved for LoanNEX, please contact your Regional Sales Manager.