Read our Latest Announcements

Announcement 2020-091 - New SOFR ARMs and LIBOR ARM Discontinuation

Fannie Mae and Freddie Mac are transitioning away from the LIBOR index for their adjustable rate mortgages (ARMs) and will begin using the Secured Overnight Financing Rate (SOFR) as the index. New SOFR products will soon be available.

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Announcement 2020-090 - VA IRRRL LTV Update

Effective immediately, for all new locks, the following LTV limits apply for VA IRRRL transactions:

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Announcement 2020-088 - Extension of Agency Temporary Guidelines

NewRez will be aligning with Fannie Mae Lender Letters LL-2020-03 and LL-2020-04 and Freddie Mac Bulletin 2020-27, dated July 9, 2020, in extending the temporary underwriting and appraisal policies previously announced for application dates through August 31, 2020.

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Announcement 2020-085 - Update to Disaster Monitoring Period and Appraisal Waivers

Effective immediately, the below updates are being made to the FEMA Declared Disaster Policies and Procedures. The Policies and Procedures document on the NewRez intranet will be updated in the near future.

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Announcement 2020-084 - Fannie Mae SEL-2020-03 Update

Effective immediately, NewRez is aligning with the updates announced in Fannie Mae’s Selling Guide Announcement SEL-2020-03.

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Announcement 2020-081 - Conforming, FHA, VA, and USDA Guideline Updates

The following updates are effective immediately, for all loans in pipeline or locked loans.

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