April 5, 2019
Plymouth Meeting, PA--(BUSINESS WIRE)--National mortgage lender Newrez (formerly New Penn Financial) has partnered with St. Louis-based LoanNEX to provide lenders expanded access to Newrez products, with a specific focus on non-QM originations. LoanNEX is the leading discovery and decisioning engine for non-QM and expanded credit loan programs. With the addition of the LoanNEX platform, Newrez lenders are able to quickly and confidently find a fit across Newrez’s non-QM loan programs and serve more borrowers who might not qualify for agency programs.
“In today’s changing market, we know how important it is for lenders to differentiate themselves and bring real solutions to their borrowers,” says LoanNEX CEO and Co-Founder, Eloise Schmitz. “This requires having access to both the right products and the right tools to deliver the best options to your borrowers. LoanNEX is proud to have the Newrez products available on our platform."
Lisa Schreiber, Senior Vice President of Correspondent Lending at Newrez, is thrilled to augment their origination process with LoanNEX. “The LoanNEX non-QM product and pricing platform will allow lenders to access Newrez pricing and product eligibility. It provides for national exposure and a transparent, competitive process with other non-QM buyers.” Newrez is now live with LoanNEX as part of its Correspondent Lending process. Contact your Sales Representative or learn more at newrezcorrespondent.com.
About Newrez LLC
Newrez LLC (Newrez), formerly New Penn Financial, LLC, is a leading nationwide lender that focuses on offering a breadth of industry-leading products, supported by a loan process that blends both human interaction and the benefits of technology into an unparalleled customer experience. Founded in 2008 and licensed to lend in 49 states, Newrez is headquartered in Plymouth Meeting, Pennsylvania and operates multiple lending channels, including Correspondent Lending, Wholesale, Direct-to-Consumer, Retail, and a network of Joint Venture partners. Newrez is a Shellpoint Partners company and a member of the New Residential Investment Corp. family. More information is available at newrezcorrespondent.com.
LoanNEX is an innovative web based pricing and eligibility platform with unprecedented Non-QM, specialty loan program decisioning tools. LoanNEX simplify the discovery of residential mortgage options for non-traditional borrowers and is available to brokers, mortgage originators, underwriters, and secondary market personnel. The system’s open-architecture application program interface (API) enables lenders and investors to integrate LoanNEX directly into their workflows for open access to their originators and brokers. For more information, visit www.loannex.com, or contact Kristen Norvell at 314-833-6464.