Skip to main content

Newrez Adds New ARM Options To Non-QM, Dream Big Product Suites

Director of Events
Jul 27, 2021

Newrez LLC enhanced its Dream Big and non-qualified mortgage product suites with the launch of new adjustable-rate mortgage loan products.

Newrez LLC enhanced its Dream Big and non-qualified mortgage product suites with the launch of new adjustable-rate mortgage loan products.

Available as five, seven and ten-year ARM options, the new loan products are now offered across the company’s Direct to Consumer, Joint Venture and Wholesale lending channels as part of Newrez’s Dream Big product suite. Newrez’s Non-QM product suite, known as its SmartSeries, are offering ARMs across Wholesale and Joint Venture.

The SmartSeries ARM is created for buyers who fall just outside of traditional qualifying guidelines, especially self-employed and first-time buyers. According to Newrez, it offers the lowest possible mortgage rate for a specified period of time before any rate increases. For qualifying borrowers with strong credit, reserves, and disposable income, the Dream Big ARMs options will offer more flexible financing solutions.

“Our new ARMs options are going to be very beneficial to certain types of borrowers at a critical time of economic rebound,” said Mike Smeltzer, senior vice president of Newrez Non-QM Lending. “With the potential for rises in interest rates, now is the time for these borrowers to lock in a lower rate for a set period of time.”

Newrez believes that its new ARM products allow originators and brokers to increase their volume in today’s competitive market, by offering differentiated solutions and products to qualify more borrowers and close more loans.

“Our SmartSeries and Dream Big products are designed to fit specific borrower needs. With expanded guidelines and more options, we are now able to help more borrowers who sit outside the conventional financial requirements turn their dreams into reality,” said Jeff Gravelle, chief production officer at Newrez.

About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
Jul 27, 2021
More from
Non-QM
Change Lending Approved For Membership In Federal Home Loan Bank Of San Francisco

Change Lending, a CDFI, obtains membership approval from FHLB-SF after meeting all statutory requirements.

Mar 13, 2024
Verus Mortgage Capital Leads Non-Agency MBS Issuance In 2023

Specialist in Non-QM and investor rental programs emerges as dominant player.

Mar 12, 2024
Angel Oak Mortgage REIT, Inc. Weathered Financial Headwinds In 2023

Despite missing non-GAAP EPS forecasts, Angel Oak grows loan portfolio, enhances liquidity, and optimizes operations.

Mar 06, 2024
dv01 Analysis Reveals Shift In Non-QM Loan Modifications

Despite decrease in loan modifications, more borrowers opt for permanent payment reductions.

Mar 06, 2024
dv01 and Fitch Ratings Collaborate On Non-Agency RMBS Benchmarks

Strategic collaboration between dv01 and Fitch Ratings introduces benchmarks aiming to enhance transparency and redefine market analysis in Non-QM and Prime Jumbo markets.

Feb 21, 2024
LendSure Mortgage Corp. Unveils BOOST

A bridge loan program for brokers and homebuyers.

Feb 21, 2024