FORT WASHINGTON, Pennsylvania – (BUSINESS WIRE) – Jan. July 2021–
Newrez LLC ("Newrez", the "Company"), a national mortgage lending and services company, continues to improve its Dream Big and Unqualified Mortgage ("Non-QM") ("ARM") suite of products with the introduction of new adjustable rate mortgages Credit products.
The debut of ARMs marks another smart move by Newrez to further expand its loan solution options and product sets. The new loan products are available in five, seven and ten year ARM options and are now being offered direct to consumers, joint ventures and wholesalers through the company's loan channels as part of Newrez's Dream Big product suite. Newrez's non-QM product suite, known as SmartSeries, offers ARMs for wholesale and joint venture use.
The SmartSeries ARM options are ideal for buyers who do not fall under traditional eligibility guidelines and will help certain qualifying borrowers, especially self-employed and first-time buyers, acquire home ownership in today's highly competitive market by getting the lowest possible mortgage rate for a period of time offer offering time before the rate goes up. For qualified borrowers with strong credit, reserves, and disposable income, the Dream Big ARMs options provide more flexible financing solutions.
"Our new ARMs options will be very beneficial to certain types of borrowers at a critical time in the economic recovery," said Mike Smeltzer, senior vice president of Newrez Non-QM Lending. "With the potential for interest rate hikes, now is the time for these borrowers to set a lower interest rate for a period of time."
The new ARM products enable originators and brokers to increase their volume in today's highly competitive market by offering differentiated solutions and products to qualify more borrowers and complete more loans.
"Developing this product for our borrowers is a win-win for everyone – more loan solutions, more qualified borrowers, more loans out," said Jeff Gravelle, chief production officer at Newrez. "Our SmartSeries and Dream Big products are tailored to the specific needs of borrowers. With expanded policies and capabilities, we can now help more borrowers who are outside of traditional financial requirements make their dreams come true. "
For more information on Newrez's loan offers, please visit https://www.newrez.com/find-a-loan/.
About Newrez
Newrez is a leading mortgage company that strategically combines mortgage lending and servicing to deliver a premium, customer-centric journey and to help our clients take smart steps throughout their mortgage loan life. Newrez's differentiated origination platform offers options to buy and refinance customers and operates across multiple credit channels including direct to consumer, joint venture, wholesale and correspondent. Newrez's trustworthy and proven servicing business consists of its performance-based credit services division, Newrez Servicing, and its dedicated service division, Shellpoint Mortgage Servicing. Newrez employees support the health, vitality, and sustainability of our communities through the company's community investment initiative, Newrez Neighborhood Outreach Works ("NOW"). Founded in 2008 and headed in Fort Washington, Pennsylvania, Newrez is a member of the New Residential Investment Corp. family.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210727005566/en/
CONTACT: Mackenzie Coopman
PublicRelations@Newrez.com
(O) 484-339-7973
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES OTHER CONSTRUCTION & REAL ESTATE RESIDENTIAL CONSTRUCTION & REAL ESTATE FINANCING CONSTRUCTION & REAL ESTATE BANKING
SOURCE: Newrez LLC
Copyright Business Wire 2021.
PUB: 07/27/2021 08:00 AM / DISC: 07/27/2021 08:02 AM
http://www.businesswire.com/news/home/20210727005566/en
Copyright Business Wire 2021.
source https://seapointrealtors.com/2021/07/27/newrez-adds-new-arm-options-to-dream-big-non-qm-product-suites-business/
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