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NEWPORT NON-QM RESOURCE GUIDE

Our Newport Jumbo/Non-QM product is often referred to as the "Just-Missed" program - when conventional Freddie products get rejected by other lenders, the Newport and Newport Streamlined First Lien, are deal makers. With Income, asset and reserve subject to DU findings, and Transferred Appraisals Allowed, we like to think of it as your "Go-To" jumbo option. 

BEST SUITED FOR:

  • Agency and jumbo borrowers 2-3 years past a credit event

  • Borrowers who want to have no seasoning requirements to use current market value for rate/term refinancing

  • Properties in non high-balance counties

  • High LTV - 95% with no mortgage insurance

  • Borrowers who had their application rejected under Fannie and conventional guidelines

LOAN FEATURES:

  • $100K to $2.5M

  • FICOs from 600

  • Up to 95% LTV with no MI

  • 95% cash out up to $1.5M

  • Interest-only offered on 10/1 ARM and 40-year fixed

  • 5/1, 7/1 and 10/1 ARM

  • Interest only with 680+ FICO

  • DTI allowed up to 50%

  • Non-occupant co-borrowers

  • 2-years seasoning for short-sales and bankruptcy

  • 3-years seasoning for foreclosures

NEWPORT STREAMLINED FIRST LIEN

  • Income, assets and reserve based on DU findings

  • Transferred appraisals accepted

  • Max 45% DTI

  • Housing history: 0x30x12

  • Interest-Only Options

  • A+ Grade Pricing

  • Bankruptcy, Loss Mitigation, and Foreclosure requires 4-years seasoning for each event type; multiple foreclosures allowed but not bankruptcies

  • Min. FICO 600

  • LTVs same as base first lien matrix (A+ grade)

  • All Fixed, ARM and 40-year Interest-Only programs allowed

  • Business funds and foreign assets allowed

  • Allowance of gift funds (minimum 5% of the borrower’s own funds) regardless of LTV


NEWPORT RESOURCES


CONTACT US - WE'RE HERE TO HELP

Our expert Senior Account Executives provide clear communication and attentive guidance to help you select the right product and work quickly to close your Non-QM loans. 

CAN'T WAIT - GIVE US A CALL

844.888.JMAC (5622)
sales@JMACLending.com

LET'S TALK BUSINESS