Skip to main content

NewFi Adopts LoanScorecard’s PPE as Its Non-QM Pricing Tool

Jul 23, 2019
LoanScorecard has announced that NewFi Wholesale, a wholesale mortgage lender headquartered in Emeryville, Calif., has implemented its product and pricing engine, Pricer1, and non-agency AUS, Portfolio Underwriter, as its Non-QM Pricing & Scenario Tool

LoanScorecard has announced that NewFi Wholesale, a wholesale mortgage lender headquartered in Emeryville, Calif., has implemented its product and pricing engine, Pricer1, and non-agency AUS, Portfolio Underwriter, as its Non-QM Pricing & Scenario Tool.
 
NewFi has deep expertise in government, jumbo and non-qualified mortgage (non-QM) lending, licensed to do business in California, Arizona, Colorado, Florida, Maryland, New Jersey, Oregon, Pennsylvania, Utah and Washington.
 
Powered by LoanScorecard’s Pricer1 and Portfolio Underwriter technology, NewFi Wholesale’s Non-QM Pricing & Scenario Tool allows approved and potential broker partners to run loan scenarios in Calyx Point or on the lender’s Web site. Brokers can then quickly determine eligibility and pricing across NewFi Wholesale’s proprietary non-QM products: Sequoia Portfolio Plus, Sequoia Portfolio Expanded, Sequoia Investor Pro and Sequoia CPA.
 
“By combining our broad range of loan products with innovative technology we are reshaping the way our broker partners shop for and close loans,” said Steve Abreu, chief executive officer of NewFi Wholesale. “We chose to partner with LoanScorecard because they allow us to provide brokers, whether or not they are approved partners, greater value by accessing our proprietary guidelines directly in their LOS. In addition, we didn’t need to spend significant time and resources building our own AUS. LoanScorecard’s implementation process was so smooth that we were up and running in less than a month.”
 
Ben Wu, executive director of LoanScorecard, said, “Forward-looking wholesale lenders, like NewFi, know that, in order to be successful in today’s market, it’s essential to build strong relationships with brokers. By leveraging LoanScorecard technology, NewFi is expanding its reach and empowering brokers with real-time pricing and an immediate indication of whether or not loans would be approved, so they can quickly and confidently close more loans.”

 
About the author
Published
Jul 23, 2019
Early Voters Flag U.S. Economy As Top Issue

More Americans think mortgage rates will fall if Trump wins

Nov 04, 2024
Freddie Mac's Q3 Earnings Boost Net Worth To $56 Billion

Lower rates usher in more purchase and refinance activity

Oct 30, 2024
HUD Pledges $12 Million To Boost Housing Affordability

Grant funding from HUD’s Self-Help Homeownership Opportunity Program (SHOP) enables eligible organizations to acquire land, enhance infrastructure, and build housing

Oct 30, 2024
Insurance Crisis Hits Lenders' Bottom Lines

While monthly principal, interest, and property tax obligations are up an average 15-17% since the beginning of 2020, the average monthly property insurance payment is up a staggering 52% over that same period.

Oct 30, 2024
Major Housing Agencies Return With Bold Changes At MBA Convention

Fannie, Freddie, and HUD revive key announcements, rolling out expanded appraisal waivers and transparency initiatives

Oct 29, 2024
Freddie Repurchase Pilot Opening To All

The GSE will expand its performing loan repurchase pilot to all lenders beginning in the first quarter of 2025.

Oct 29, 2024