Newfi Broker Process 

Last Updated 08.10.2023


Go to https://newfiwholesale.com/newfiportaluserform/ to be set up an account for their portal if you or the loan officer do not already have a login. Sales Support recommends to login as the loan officer unless you will be assigned to the file through closing.

 

*If you are creating a login for yourself, be sure to request “Processor” as your role and “View all loans in company pipeline” as your access level.*

 

Encompass Steps:  

  1. Ensure the Encompass File is complete & accurate for the loan program the LO is targeting and all broker forms have been completed  
  2. Complete the Anti-Steering form (only required if it is lender paid compensation)  
  3. Complete the bottom of the MLDS form (if property is in California)
  4. Export the 3.4 File from Encompass 

 

Broker Portal Steps:

  1. Log into the broker portal: 
    1. https://broker.newfiwholesale.com/#/login 
  2. Click "Create Loan” 
    1. Upload the 3.4 file you exported from Encompass 
  3. Select the Loan Officer for the file. If you cannot locate the Loan Officer a login will need to be created for them.        You can create the login yourself by completing the NewFi User Form.
  4. Complete the Credit information for each borrower
  5. Link and REOs with their appropriate mortgages
  6. Complete the Fee information. If you do not have fees from Escrow input $90 for the Credit Report and $0.00 for all remaining Fees.
  7. Enter the Mortgage type the borrower is applying for from the dropdown provided.
  8. Validate the address
  9. The final page for registration will ask to provide a copy of the fees. Upload a word doc that says “Please proceed with default title fees.” And Select “Yes” for all 3 options. Then click Request for LE.
  10. Go to Pricing tab 
    1. Confirm the information is correct with the information the LO provided (ex: LPC/BPC, loan program, comp amount, etc.)
    2. Price the loan
    3. Select the correct rate (provided by LO) and loan program.  Register the loan.  Please note this is a floating rate and we are not locking the loan.
  11. Once the loan is registered with the 1003 information, pricing and correct loan program you will receive an email containing the Loan Registration Certificate. Disclosures will go out aprox. 24 hours after this email is received. 
  12. When Disclosures go out another email with be sent with the notification.
  13. Log back into the portal to confirm if disclosures package is available. Download the unsigned package to computer to upload to the Encompass file.