MPF Xtra® Training:Newrez

Training Courses  
Originating & Underwriting

Processing

Complete the processing steps and ensure the loan meets the MPF® Program requirements.

You will process the MPF loan as you would loans for other secondary market investors. 

Want to know more? View our Loan Eligibility Webinar and our Processing Basics webinar.

Your Responsibilities

  1. Run your automated underwriting system (if applicable)

  2. Gather borrower information

  3. Validate the information provided by the borrower

  4. Order an Appraisal

  5. Order the Title search

  6. Order a Life of Loan Flood Certification

    • Newrez's preferred vendor is CoreLogic; however, they will work with all major flood determination companies.

  7. For LTVs over 80%: Obtain private mortgage insurance from our list of approved vendors.

    • Arch Mortgage Insurance Company (formerly CMG Mortgage Insurance Company)
    • Essent Guaranty, Inc.
    • Enact (formerly Genworth MI)
    • Mortgage Guaranty Insurance Corporation (MGIC)
    • National Mortgage Insurance Co.
    • Radian Guaranty Inc.

Tip: Did you know you can order tax transcripts directly with the IRS?