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RezSource targeted to low-income borrowers and first-time homebuyers.
Neil Merritt joins Houston-based lender from similar role at NewRez
Program is designed to assist first-time homebuyers.
Options offer borrowers a reduced interest rate in first years of a loan.
The preliminary ratings are for mortgage-backed notes, with all loans originated by NewRez LLC or Caliber Home Loans.
Loan offers a fixed-rate and interest-only payments for the first 10 years.
