Warburg Pincus Invests in Nexera Holding dba Blustream Lending

Blustream Lending News

Nexera Holding LLC dba Blustream Lending, a technology-enabled residential mortgage lender, today announced that funds affiliated with Warburg Pincus, a global private equity firm focused on growth investing, have agreed to make a significant growth investment in the company. The investment will be used to further advance Nexera’s technology platform and accelerate its expansion plans. Terms of the transaction were not disclosed.

Founded in 2014 by Steve Abreu and a team of industry veterans, Nexera is focused on building business channels that combine proprietary technology, an efficient operating model, and a personal touch to reshape the way customers shop for and close a mortgage. Nexera operates under two national brands: Newfi for consumer-direct business and Blustream for wholesale lending. Newfi is a 5-star rated lender that simplifies borrowing and reduces costs through its secure and streamlined mortgage lending technology. Blustream is focused on providing its wholesale partners with consistently low pricing and a growing range of innovative lending products.

“We are proud to have Warburg Pincus behind our effort to build a premier lending platform that will uniquely drive diverse mortgage products across multiple business channels,” said Nexera CEO Steve Abreu. “Our focus has been to transform the mortgage process while driving operating discipline and profitability. With this investment, we now have the backing to scale those fundamentals nationally.”

“Steve and the team at Nexera are disrupting the traditional mortgage market by building a next-generation origination platform that simplifies the mortgage process end-to-end for customers, providing lower costs and faster processing,” said Eric Friedman, Principal, Warburg Pincus. “We are pleased to partner with Nexera’s management team and leverage their deep industry experience to build an innovative mortgage business of scale.”

About Nexera Holding dba Blustream Lending
Nexera Holding is a multi-channel lender that is setting the standard for efficiency, transparency, and service in the mortgage marketplace. Founded by industry veterans, Nexera is committed to innovation in lending products for both consumers and mortgage brokers under the Newfi and Blustream brands. For more information, visit www.nexeraholding.com. To learn more about Newfi and explore rates, visit www.newfi.com. To learn more about Blustream, visit www.blustream.com.

About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $40 billion in private equity assets under management. The firm’s active portfolio of more than 130 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 16 private equity funds, which have invested more than $58 billion in over 760 companies in more than 40 countries. For more information please visit www.warburgpincus.com.

Blustream now offering 25-day closings

Daniel Silver News, Why We're Great

We now offer closings for conforming purchases within 25 days or less!

This includes our famous 1st/2nd combo piggyback product as well!

Here are the requirements:

  • Conforming or high-balance agency loans only
  • The 25 days is measured from date of complete credit file upload
  • Complete credit file must be received upon submission
  • Blustream to issue LE on the same day if the request is received by 11:00am PT
  • Appraisal must be ordered within 24 hrs of Blustream receiving the signed initial disclosures
  • All UW PTDs to be received within 15 calendar days of credit file

To learn more about our 25-day closing policy, contact Blustream Support at 888-415-1620.

Debbie Ingle Joins Blustream as Senior Vice President

Blustream Lending News, People

We’re excited to welcome Debbie Ingle as our new Senior Vice President of Wholesale Mortgage Lending!

Debbie has been in the mortgage business for over 30 years, and she has a unique background combining both wholesale and retail mortgage, as well as operations and production management.

Before joining Blustream, Debbie was the Executive Director of Mortgage and Real Estate at Alaska USA Federal Credit Union. She was also President of Alaska USA Mortgage Company and Alaska USA Title Agency.

Debbie previously worked for 13 years at GreenPoint Mortgage, working with Steve Abreu, the current CEO of Nexera Holding LLC. At GreenPoint Debbie was a Division Manager responsible for the largest and most profitable region in the company.

Debbie told us about her three fundamental beliefs for success:

  1. “Do the right thing, even when nobody is watching.”
  2. “Our greatest asset is our team.”
  3. “Together we can achieve more than what we dreamed was possible.”

At Blustream, Debbie is hiring industry veterans throughout the US that share our passion for simplicity, transparency and that personal touch that makes the difference to our partners.

Welcome aboard, Debbie!

Blustream opens in Pennsylvania

Daniel Silver New States, News, People

Blustream Lending is now operating in Pennsylvania!

We’re proud to now be licensed for wholesale mortgage lending operations in Pennsylvania. Our Regional Account Manager for the state is Brendan Barry.

You can reach him at:

Brendan Barry
Regional Account Manager
Telephone: (610) 637-1994
Email: brendan@blustream.com
LinkedIn

And see our other wholesale loan products…

NEW! Denali Jumbo & Non-QM Mortgage Loans

Blustream Lending News, Products

We’re excited to announce another new non-QM loan program: Denali!

The Denali Non-QM loan program offers better rates and higher LTVs than many competing non-QM programs. Plus you can access jumbo amounts with no mortgage insurance.

Denali Jumbo & Non-QM Loan Flyer

Click Here for a PDF of the Commercial Loan Flyer

Here are some highlights:

  • 95% LTV up to $1.5 million with no MI
  • 40-year fixed rate mortgage with 10 year IO (max 43% DTI)
  • NOO Purch, R&T and Cash Out to 85% LTV, no MI
  • Unlimited cash out to 95% LTV
  • Unlimited financed properties for LTV of 70% or below
  • Expanded DTI up to 50%
  • Shorter seasoning requirement from major credit events
  • Credit score as low as 600

Who is this loan product for?

Denali is ideal for clients who can fully document their income and who want to:

  • Unlock the equity in their investment properties;
  • Borrow despite recent credit events like bankruptcy, foreclosure, or short sale; or
  • Manage monthly mortgage payments with an interest-only option.

How does Denali compare to our Glacier Flex Non-QM program?

Denali is a full-doc program, allowing for higher LTVs and better pricing. Glacier Flex is an alt-doc program that makes it easier for borrowers to qualify. Read more about Glacier Flex (for homeowners) and Glacier Low-Doc Investment (for investors).

How does Denali compare to our Yellowstone Jumbo program?

Denali is a non-QM jumbo program that permits higher LTVs (up to 95%!) and also provides an option for a 40-year terms with a 10-year, interest-only options. Yellowstone is a standard jumbo product providing our most competitive rates for loan amounts up to $2 million. Read more about the Yellowstone Jumbo Loan Program.

For more information

See our program guidelines, or call the Blustream team at 888-415-1620!

And see our other wholesale loan products…

Blustream now in New Jersey

Daniel Silver New States, News, People

Blustream now offering wholesale mortgage lending in New JerseyBlustream Lending is now doing wholesale lending in New Jersey!

We’re excited to bring our wide range of wholesale mortgage loans and great rates to New Jersey. Our new Regional Account Manager for New Jersey is Brendan Barry.

His contact information is:

Brendan Barry
Regional Account Manager
Telephone: (610) 637-1994
Email: brendan@blustream.com
LinkedIn

And see our other wholesale loan products…

Blustream expands to Florida

Daniel Silver New States, News, People

Blustream Lending is now providing its innovative wholesale lending products to Florida!

We’re pleased to announce that our new Regional Account Manager for Florida is Steven Duran.

His contact information is:

Steven Duran
Regional Account Manager
Telephone: (954) 483-5213
Email: steven@blustream.com
LinkedIn

Check out our wholesale loan products!

Top 10 Reasons to Use Blustream

Blustream Lending Why We're Great

Why do we think mortgage brokers should use Blustream?

  1. Price. We are consistently in the top 5 best-priced lenders for Conforming and FHA loans.
  2. Proven leadership. Our management team has led some of the largest, most successful mortgage banks in the industry.
  3. Broker loyalty program. We reward our partners with service and price incentives for submission volume and pull-through.
  4. Support. We provide a single point of contact for inside sales support and pipeline management.
  5. Non-QM. Our Non-QM program helps borrowers and real estate investors who may not qualify for agency and other traditional financing.
  6. Piggyback Seconds. We have a 90% CLTV piggyback seconds that you won’t find anywhere else.
  7. Jumbos. We are consistently one of the top 5 best-priced lenders for jumbo financing. And we have a 95% LTV jumbo!
  8. FHA. We offer a full suite of competitively priced FHA programs, including non-credit qual, mortgage rating only, streamline refis.
  9. Small-Balance Commercial. Our flexible, non-bank commercial loans can help borrowers that fall outside of traditional bank guidelines.
  10. More innovation to come. We have a new wholesale portal coming soon.
….And most of all, because we care about YOU, the customer.
For more information, contact us at (888) 415-1620 or visit us at blustream.com.

NEW! Small Balance Commercial Loans

Daniel Silver News, Products

Blustream now offers Small-Balance Commercial Lending!

Commercial loans from $250,000 to $2 million for refinancing, purchase, and cash out are available, for both owner-occupied and investment properties. This is a great alternative to traditional bank lending, particularly for borrowers needing more flexible terms.

Small Balance Commercial Loan Flyer

Click Here for a PDF of the Commercial Loan Flyer

Why sell small-balance commercial loans?

  • Grow your business and diversify your product line
  • Easy product extension if you’ve done residential, multi-family loans or large commercial
  • Great door-opener with new and old referral sources (real estate agents, insurance agents, lawyers)
  • Avoid referring out lucrative business from new and existing clients
  • Good rates available, even for borrowers with complicated credit situations

Who are small-balance commercial loans for?

Small-balance commercial loans are ideal for your clients looking to invest in commercial real estate, or small business owners who are interested in purchasing or refinancing a property.

Borrowers should have strong credit and personal financial strength to qualify for the best rates.

We also have a flexible “light doc” program for self-employed borrowers or other investors whose tax returns do not fully represent their credit status or net worth. While rates are higher than traditional bank rates, they are lower than those of hard money lenders.

What’s special about the Blustream small-balance commercial loan program?

Our program covers commercial mortgages from $250,000 up to $2 million. Some of the exciting features of our loan program include:

  • LTV up to 80%
  • Owner-occupied or investment properties
  • Long terms and amortizations (up to 30 years!)
  • Cash-outs OK
  • 48-hour pre-approvals
  • Multiple prepayment premium options
  • Minimum population requirements
  • 640 credit score minimum required
  • 1.20 minimum DSCR (debt service coverage ratio)

What property types are eligible?

Our small-balance commercial loan program covers a wide variety of properties, including:

  • Multifamily
  • Mixed-use residential/commercial
  • Office
  • Retail
  • Self-storage
  • Light industrial
  • Warehouse
  • Automotive
  • Mobile home parks

For more information

See our program guidelines, or call the Blustream team at 888-415-1620!

Check out our other wholesale loan products!

NEW! Glacier Investment Low-Doc Loan Program

Blustream Lending News, Products

Here’s a new non-QM product for real estate investors who don’t qualify for typical agency loans — and a great NICHE product to help you stand out.

Introducing the Glacier Investment Low-Doc Loan Program!

Low Doc Investment Loan Flyer

Click Here for a PDF of the Product Flyer

This loan product is great for investors who are asset rich, but who have complex tax returns or a high debt-to-income ratio. With non-QM financing, you can improve your borrower’s cash position.

Look at these features:

  • Loan amounts up to $1,500,000
  • Low documentation requirements
    • No income verification
    • No employment verification
    • No reserves
    • Verify assets needed to close only
  • No maximum number of financed properties
  • No DSCR requirement
  • Foreign Nationals are OK
  • Only 24 months seasoning from foreclosure, short sale, deed in lieu, and bankruptcy
  • Non-warrantable condos considered
  • 3/1 ARM, IO option available

See the full loan program guidelines here:
Glacier Investment Low-Doc Loan Program Guidelines

For more information, call the Blustream team at 888-415-1620.

NEW! Glacier Flex Non-QM Loan Program

Blustream Lending News, Products

ARE YOU turning away business that doesn’t qualify for agency loans?

Now you can say “YES” more often — and monetize more deals — with the Glacier Flex Non-QM Loan Program.

Non-QM Loan Flyer

Click Here for a PDF of the Product Flyer

This is a NICHE product with more lenient credit criteria that you won’t find elsewhere. Take a look:

  • Jumbo loan amounts:
    • $1,000,000 to 90% LTV
    • $1,500,000 to 85% LTV
  • Flexible credit standards: Only 24 months of seasoning from foreclosure, bankruptcy, short sale, or deed in lieu
  • Alternative income doc: bank statement programs for self-employed borrowers
  • Non-warrantable condos considered
  • Owner-occupied and second home only (for investment properties, check out our investment and low-doc investment non-QM loan programs)
  • 30 year fixed and 5/1 ARM terms (Interest-only loans available on 5/1)

See the full loan program guidelines here:
Glacier Flex Non-QM Loan Program Guidelines

Who is Glacier Flex for?

Glacier Flex is ideal for:

  • Self-employed borrowers who need to use bank statements to establish incomes
  • Creditworthy borrowers with relatively recent negative credit events
  • Borrowing for non-warrantable condos

How does Glacier Flex compare to our Denali Non-QM program?

Glacier Flex is an alt-doc program that makes it easier for borrowers to qualify. Denali allows for higher LTVs and better pricing, but it is a full-doc program. Read more about the Denali Jumbo & Non-QM Loan Program.

For more information

For more information, call the Blustream team at 888-415-1620.

Check out our other wholesale loan products!