Key facts
- Upgrade originates and services the loans, which are issued by its partner Cross River Bank, according to Newrez.
- Newrez said qualified borrowers can be funded in as little as one business day and face no prepayment fees.
- Newrez reported $878.9 billion in unpaid principal balance across its mortgage servicing rights portfolio at the end of September.
- A June 2026 Morning Consult survey for Newrez found 51% of homeowners carried credit card balances.
Newrez, a multichannel lender, partnered with financial technology firm Upgrade to offer unsecured personal loans to eligible mortgage servicing customers, the company said on November 12, 2026. The loans are originated and serviced by Upgrade and issued by its partner Cross River Bank, and they do not change the customer's existing Newrez mortgage.
Newrez said qualified borrowers can be funded in as little as one business day, the loans carry no prepayment fees, and customers can see prequalified offers through a soft credit inquiry. The company described the product as an extension of its relationships with homeowners beyond the mortgage, aimed at uses such as debt consolidation, home improvements and unexpected expenses.
"Our relationship with homeowners doesn't begin and end with a mortgage," Leslie Gillin, Newrez's chief commercial officer, said in a statement. "Homeowners' financial needs often extend beyond their monthly mortgage payment, and we're proud to broaden the ways we can support them, including helping identify opportunities for savings as they navigate important financial decisions."
Newrez reported funding $12.9 billion in mortgages in the third quarter and $878.9 billion in unpaid principal balance across its mortgage servicing rights portfolio at the end of September. In a June 2026 survey conducted by Morning Consult on behalf of Newrez, 51% of homeowners reported carrying credit card balances and 59% said the debt is negatively affecting their finances. The online survey covered 2,203 US adults.
"The findings show that many homeowners are looking for ways to improve their financial position but may not know where to start," Gillin said. "By combining education with access to responsible financing options, we can help customers make informed decisions that support their long-term financial goals."