Newfi Correspondent Products


With Sequoia Portfolio Plus, Sequoia Expanded, and Sequoia Investor Pro, we make all credit decisions and exceptions, providing flexible qualification and faster approvals. Biscayne is your all-purpose jumbo loan option with fully-delegated underwriting.

Sequoia Portfolio Plus

With Sequoia, we make all credit decisions and exceptions in house, providing flexible qualification and faster approvals.

  • Borrow up to $2.5 million
  • Smart asset depletion guides – assets divided by 120 months
  • 4 year seasoning for BK, foreclosure, short sale or deed in lieu
  • One year income documentation allowed for Self-Employed and W-2
  • Credit Scores as low as 660
  • LTV up to 90% for Owner Occupied, 80% for NOO
  • DTI up to 55% (purchase, rate & term)
  • 12- and 24-month personal and business bank statement program

See Matrix



Sequoia Expanded

All Sequoia Portfolio Plus features, as well as higher LTV limits, lower credit scores and shorter recovery time between major credit events.

  • Borrow up to $2.5 million
  • Multiple options to meet tradeline requirements
  • 3-year seasoning for BK, foreclosure, short sale or deed in lieu
  • Smart asset depletion guides
  • One year income documentation allowed for Self-Employed and basic W-2
  • 12- and 24-month personal and business bank statement program
  • Reduced reserve requirements

See Matrix




Sequoia Investor Pro and Investor Pro Plus

Designed for borrowers who have an investment property portfolio, and need alternative means to qualify for an investment property loan.

  • Designed for borrowers who have an investment property portfolio and need alternative means to qualify for a loan
  • Qualification based on subject property Debt Service Coverage Ratio (DSCR)
    • DSCR = Gross Rent/PITI
    • 3 ways to qualify
      • DSCR >= 1.25
      • DSCR >= 1.15
      • No Ratio (not using subject property rent to qualify)
  • Purchase or Rate & Term up to 80% LTV
  • Cash out up to 75%
  • Minimum credit score of 620
  • 5/1, 7/1 & 10/1 ARMs
  • Interest only available
  • Prepayment penalties available 1-3 years
  • Escrows are required
  • No income or employment verification (cash to close must be verified)
  • No reserve requirement

Investor Pro Guidelines (.pdf)   Investor Pro Plus Guidelines (.pdf)




Biscayne Jumbo

Fully delegated underwriting, Biscayne is your all-purpose jumbo loan option.

  • Borrow up to $3 million
  • Max LTVs: 90% purchase, 80% rate & term, 75% cash out (up to $500,000)
  • Credit scores: 680 for purchase/rate & term; 700 for cash out
  • Fully delegated: no investor-added conditions or timelines
  • Self-employed and investors OK

See Matrix



 
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