Co-op Product and LTV Expansion

Bulletin 2024-007 Co-op Product and LTV Expansion

Newrez LLC "Newrez" Approved Correspondent Clients: Announcing LTV updates and additional Co-op Conforming Loan Products.




Newrez is adding co-ops as an eligible property type for Home Possible loans and updating the LTV for co-op properties for Fixed Rate Conforming and HomeReady products.


The Fixed rate LTV will be increased from 95% to 97% for co-ops with the following requirements:


  • Conforming Fixed Rate
  • Purchase transactions – at least one borrower must be a first-time homebuyer (excludes HomeReady & Home Possible)
  • Rate & Term Refinance – current mortgage being refinanced must be owned by the agency the AUS is run through


Refer to the updated product summaries for complete details.