Newrez Eligibility Requirements

Below you will find information regarding some of Newrez's basic eligibility requirements. The requirements outlined in the Newrez Whole Loan Servicing Transfer Manual (Traditional) would take precedence over the requirements in the MPF Guide.

• You are responsible for meeting all regulatory requirements.
• Ensure you are using the actual/actual pricing schedule when locking your loans.
• The SRP will be paid to you by Newrez; Newrez will net the required escrow balance and fees from the SRP. If netting results in a negative SRP, you will be required to wire the required funds within 2 business days:
  • Tax Service Fee: $85.00
  • Conventional Loan Boarding Fee: $150.00
  • Government Loan Boarding Fee: $500.00

Tip: Click here to see how the SRP is calculated.

• Newrez requires a two-month cushion for all escrowed items.
• You must be a member of MERS, able to register and transfer loans through MERS

Early Payoff (EPO)

Loan pays off/liquidates within 120 days of the loan funding date

Early Payment Default (EPD)

When any of the first 4 payments due to Newrez becomes delinquent by 90 days or more

For Government Loans: HUD Section 184 loans are not eligible. See the Newrez Whole Loan Servicing Transfer Manual for additional government loan eligibility requirements.

Important Links:

• Newrez Whole Loan Servicing Transfer Manual (Traditional)