NewRez Mortgage Covid Updates and Refinancing Advice

NewRez Mortgage has been offering assistance to homeowners affected by the COVID-19 pandemic. They have introduced various programs to help borrowers navigate the crisis.

Borrowers can benefit from NewRez Mortgage's forbearance program, which allows them to temporarily suspend or reduce their mortgage payments. This program can provide much-needed relief during a difficult time.

Homeowners who are struggling to make their mortgage payments may be eligible for NewRez Mortgage's COVID-19 Hardship Program. This program allows borrowers to skip payments for up to 3 months.

If you're considering refinancing your mortgage, NewRez Mortgage offers competitive rates and flexible terms. They can help you lower your monthly payments and reduce your debt.

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Refinancing can be a smart move, especially with historically low refinancing rates. Refinancing your mortgage may lower your monthly mortgage payment by reducing your mortgage rate.

Today's market offers a chance to save thousands of dollars over the term of your loan by changing your loan type or term. This could also give you the option to shorten the term of your mortgage and pay it off sooner.

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Refinancing can be a smart move, especially with historically low rates available in the market today. You could lower your mortgage rate and reduce your monthly mortgage payment.

With rates this low, refinancing could save you thousands of dollars over the term of your loan. This is especially true if you're currently paying an adjustable-rate mortgage (ARM) and switch to fixed payments.

A refinance could also shorten the term of your mortgage, allowing you to pay it off sooner. This can be a great option if you're looking to pay off your mortgage faster and save on interest.

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NewRez has reactivated its non-qualified mortgage lending platform after a pandemic pause.

Non-QM lending is expected to see an uptick in 2021, alongside an expected boost to the prime jumbo mortgage business.

The CFPB expanded qualified mortgage parameters and the Ability-to-Repay rule in December, making it easier for more borrowers to qualify for a home loan.

NewRez President Baron Silverstein is excited to provide options to highly qualified borrowers that don't fit traditional Agency guidelines.

Non-QM volume accounted for about $900 million of NewRez's $7.2 billion total in 2018 and $1.5 billion of 2019's $22.3 billion.

The Biden Administration's plan for housing and lending includes increasing the homeownership rate, especially at the low end of the market.

NewRez produced nearly $400 million in non-QM volume in the first quarter of 2020 before pausing the product offering in March due to the coronavirus.

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Forbearance can be a helpful option for those struggling to make mortgage payments. It allows customers to temporarily pause paying on a mortgage or pay at a reduced rate, but they'll need to repay any missed payments after the forbearance period.

The forbearance period can vary, but it's essential to discuss next steps with your servicing team. They can help you explore options, such as repaying missed payments in a lump sum or adjusting payment amounts over time.

Caliber wants customers to stay in their homes, and they're willing to work with you to determine the best options. This shows that they're committed to supporting you during difficult times.

You'll need to review your options with your servicing team at the end of the forbearance period. This is a crucial step to ensure you understand the available choices and can make an informed decision about your mortgage.

NewRez Mortgage offered temporary forbearance options to borrowers affected by the COVID-19 pandemic.

Borrowers who requested forbearance were allowed to suspend or reduce their mortgage payments for up to 12 months.

NewRez Mortgage also provided financial assistance to borrowers who were experiencing financial hardship due to the pandemic.

Borrowers who were experiencing financial hardship due to the pandemic could receive up to 3 months of mortgage payments.

NewRez Mortgage worked with government agencies to provide relief to borrowers who were struggling to make their mortgage payments.

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The CARES Act, a government stimulus package, was implemented to provide relief to homeowners affected by the pandemic.

The CARES Act allowed borrowers to request a forbearance, which would suspend or reduce their mortgage payments for up to 12 months.

NewRez Mortgage borrowers who were experiencing financial hardship due to the pandemic could request a forbearance through the company's website or by contacting their loan servicer.