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Product SmartCondo Non-Warr. Condos & Condotels
For Borrowers Who: Condo doesn’t meet agency guidelines
Max LTV 90% Purch/RT

(Condotel: 80%)

80% Cash Out

(Condotel: Not Permitted)

Max DTI 45%
W2 Current Paystub Yes
Tax Returns – 4506t Yes
Derogatory Credit Seasoning BK, SS, DIL: 4yrs

FC: 5yrs

Mortgage History 0x30x12
Asset Amortization Allowed
Max Cash Out 500K
Use Cash for Reserves No
Minimum FICO 660

(Condotel: 680)

Financed Properties  Up to 10
Loan Terms Fixed 30,ARM 5/1, 7/1, 10/1 withoptionalInterestOnly;Fixed40InterestOnly(ExcludingSmartVest)
Pre-Pay Penalty None

New Rez:

Sarah DcDowell
Direct: 318-502-2255

Scenario Desk:

Susanna Carouthers
Direct: 330-338-7785

NewRez Scenario desk:

email smartscenariodesk@newrez.com and MGoldman@NewRez.com (always CC Goldman)

NewRez Condo Review Team:

email projectreview@newrez.com and MGoldman@NewRez.com (always CC Goldman)

SmartCondo Guidelines

Initial Disclosures

SmartCondo Info

Scenario Tool

Current turn times



Policies and procedures

Lender Guide