As part of its strategic expansion efforts, Newfi, a prominent lender known for its focus on Non-QM (Non-Qualified Mortgage) loans, has recently unveiled a new correspondent lending channel. This addition to their services aims to further enhance their lending capabilities and accommodate a wider range of borrowers. By introducing this correspondent lending channel, Newfi is not only solidifying its position in the lending market but also reaffirming its commitment to providing diverse and tailored financial solutions to its clientele. This strategic move showcases Newfi’s dedication to adaptability and innovation within the lending industry.
The objective of this channel is to facilitate the extension of its exclusive non-QM products to mortgage bankers across the country. Additionally, the lender has intentions of recruiting experienced correspondent account executives specialized in non-QM to provide support for this expansion initiative.
Steve Abreu, the CEO of Newfi, expressed his delight in presenting the mortgage bankers with Newfi’s exclusive non-QM solutions. He emphasized that Newfi’s expansion into the correspondent lending sector reflects the company’s commitment to the non-agency arena and its strong position as a leading lender in the current market.
Via the fresh correspondent lending avenue, Newfi is set to provide non-QM initiatives and DSCR loan choices. This encompasses their Sequoia portfolio non-QM loan scheme, granting borrowers the opportunity to access loan sums reaching $5 million. The scheme also offers adaptable income verification alternatives (such as full documentation, bank statements, 1099 forms, and asset depletion), along with competitive pricing.
Anticipating the establishment of impactful relationships in the correspondent lending arena, Dan Bayer, Senior Vice President of Non-QM Development and Strategy, highlighted their significance in bolstering the growth of mortgage bankers’ businesses. In the current dynamic market landscape, the inclusion of non-QM product offerings stands as a pivotal factor for mortgage bankers’ sustained success. Within this context, Newfi has positioned itself as a vanguard, consistently pushing the boundaries of innovation and setting the gold standard for delivering unparalleled excellence in service for these origination endeavors.