Newfi, a lender specializing in Non-QM (Non-Qualified Mortgage) loans, has recently introduced a correspondent lending channel as a strategic move to expand its operations.
The primary goal of this newly launched correspondent lending channel is to offer Newfi’s exclusive non-QM products to mortgage bankers across the country. Additionally, the lender is actively seeking experienced non-QM correspondent account executives to join their team and facilitate this expansion.
Newfi CEO, Steve Abreu, expressed his pride in providing mortgage bankers with access to Newfi’s exclusive non-QM products. He emphasized that their entry into the correspondent lending channel reinforces Newfi’s dedication to the non-agency sector and highlights their prowess as a strong lender in the current market landscape.
Through the recently established correspondent lending channel, Newfi will present an array of non-QM programs and DSCR loan options. Among these offerings is the Sequoia portfolio non-QM loan program, granting borrowers access to loan amounts as high as $5 million. The program will also offer flexible income verification choices, including full doc, bank statement, 1099, and asset depletion options, all while maintaining competitive pricing.
Dan Bayer, the Senior Vice President of Non-QM Development and Strategy, expressed enthusiasm for building significant correspondent lending partnerships that contribute to the growth of mortgage bankers’ businesses. He emphasized the importance of Non-QM product offerings in the present market landscape for mortgage bankers. Furthermore, he praised Newfi for being at the forefront of innovation and service in facilitating these originations.
Non-QM loans cater to borrowers whose financial profiles do not align with the criteria of a conventional qualified mortgage. These borrowers may have irregular or nontraditional income sources, experience significant credit challenges, or carry substantial debt.
Newfi Lending, established in 2014 by seasoned industry professionals, is revolutionizing the mortgage process by blending exclusive technology with innovative products. As a nationwide lender, Newfi offers a streamlined and transparent transaction process, leading to heightened customer satisfaction and enhanced trust.