The Step-Up Mortgage is available in Arizona, California, Florida, and Texas, with more states to be added soon, Newfi said.įounded in 2014 and specializing in Non-QM products, Nexera Holding LLC dba Newfi Lending offers unique lending products, including alternative income (bank statement,1099, asset depletion) loans debt service coverage ratio (DSCR) investment property loans, and 40-year interest-only loans. This cutting-edge solution will present our Non-QM borrowers with another choice when financing their homes that they can only find at Newfi.” “We are excited to launch our new Pinnacles Step-Up Mortgage. “Innovation is key to finding success in changing market environments,” said Steve Abreu, Newfi CEO & founder. #Non qm lenders florida full#Newfi qualifies borrowers based on the highest payment throughout the life of the loan, and provides a full amortization schedule of their fixed-rate option up front so there are no surprises when payments increase over time, it said. The Pinnacles Step-Up Mortgage also keeps borrowers from trading stability for lower payments, the company said. Newfi said the Step-Up Mortgage solution gives Non-QM borrowers a way to lower their initial monthly payments and can put thousands of dollars back into their pockets in the initial years of the loan. This has especially affected borrowers who need a Non-QM mortgage solution because they are self-employed or require different guidelines to qualify, since these unique mortgage products already come with a higher interest rate. With rising interest rates and cost of goods, borrowers looking to purchase or refinance a home have been hit with higher mortgage payments and lower purchasing power. “This is a solution that the everyday homeowners we work with have been asking for.” “The biggest benefit of the Pinnacles Step-Up Mortgage is lower initial mortgage payments for Non-QM borrowers,” said Dan Bayer, Newfi senior vice president of Non-QM development & strategy. It is an alternative to the popular bank statement income Non-QM loans currently on the market, Newfi said in a press release. Pinnacles Step-Up Mortgage is a 30-year, fixed-rate loan in which payments start at a lower base level and then increase annually at a 5% rate until the beginning of the sixth year, when payments level out based on the remaining principal balance. The Emeryville, Calif.-based company claims the Step-Up Mortgage can save Non-QM borrowers thousands of dollars in monthly payment obligations in the first year alone when using full documentation or bank-statement income. CA Corporation Number C-1958007.Newfi Lending on Tuesday announced the launch of a new non-qualified mortgage (Non-QM) product called Pinnacles Step-Up Mortgage that is available in four states. #Non qm lenders florida license#FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT Mortgage Lender License #ML013966” FlexPoint, Inc. to rebrand as Click n’ Close (6/25/22) First Guaranty Mortgage Corp. files Chapter 11 bankruptcy (6/30/22) Mid America Mortgage, Inc. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. AnnieMac Home Mortgageacquires OVM Financial (6/30/22) First Guaranty Mortgage Corp. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-87. UnitedHealthcare creates and publishes the Machine-Readable Files on behalf of NP, Inc. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT. “CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. For consumer complaints, call us at 88 or go to .” The posting of this notice complies with the requirements of ORS 725.160, 725A.032, 86A166, and Access Site. New Mexico Mortgage License approved, Oregon “Licensed by the Oregon Division of Financial Regulation of the Department of Consumer and Business Services. Colorado Mortgage Company Registration, Florida Mortgage Lender Servicer License #MLD1969, Nevada Mortgage Company License #4548. FlexPoint, Inc NMLS #243082, California DFPI Finance Lenders Law License #603E309, California Real Estate Corporation DRE License Endorsement #01206008, Arizona Mortgage Banker License #0948197 FlexPoint, Inc.
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