NewRez and Shelter Mortgage Announce Formation of New Joint Venture Lender, Your Home Financial
July 31 2019 - 7:30AM
Business Wire
Mortgage lender’s
successful partnership with Russell Real Estate Services expands to
offer comprehensive client services in Cleveland, Ohio
NewRez LLC (“NewRez”), a national mortgage lender, announced
today the formation of a new Joint Venture mortgage company to be
added to its network of partners. NewRez and Shelter Mortgage
Company, LLC (“Shelter Mortgage Company”), the NewRez business
division focused on JV lending, have partnered in this venture with
Russell Real Estate Services, a long-standing family-run business
serving the greater Cleveland, OH area. The name of the new Joint
Venture lender is Your Home Financial (“Your Home Financial”), and
will be led by Paul McKelvey, currently an Area Sales Manager with
NewRez.
The creation of Your Home Financial combines the expertise of
some truly seasoned industry players in their respective lines of
business. Russell Real Estate Services was founded in 1962 and has
over 650 agents on its team today. Shelter Mortgage Company brings
more than 30 years of experience in creating successful and
profitable Joint Ventures to the partnership. Like all successful
JVs, this one will offer buyers more options and services through a
single source.
“At NewRez, we take great pride in our Joint Venture
partnerships and only seek out those who we believe will make a
positive impact on our respective businesses as well as the client
and agent communities they serve,” says Randy VandenHouten,
SVP, Joint Venture & Retail Lending, NewRez. “The Russell Real
Estate Services team has demonstrated extraordinary leadership and
we believe the partnership will exceed performance expectations in
the mortgage space.”
“The innovative Joint Venture model offered by NewRez and
Shelter Mortgage enables us to offer our clients a complete menu of
mortgage services from an established platform and the credibility
to achieve success in the mortgage business,” said Jeff Russell,
COO Broker/Owner. “We look forward to expanding our services in the
Cleveland area with Paul and his team, and making Your Home
Financial a trusted resource for homeowners.”
For more information on the Shelter Mortgage Joint Venture
platform, please contact Randy.VandenHouten@sheltermortgage.com or
go to newrez.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 www.newrez.com.
About Shelter Mortgage Company
Shelter Mortgage Company, LLC (Shelter) is a leading retail
residential mortgage originator predominantly focused on conforming
purchase money loans generated through relationships with realtors,
builders, and relocation companies. Founded in 1984 as a subsidiary
of a community bank, Shelter has loan officers across the country
with over 25 joint venture and partner relationships in over 30
States. Shelter has built a strong platform via its differentiated,
partnership-based origination model, focus on purchase money
originations and compliance-oriented culture.
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Karen Murray kmurray@powersbc.com (o) 610-644-1022 (m)
215-850-4645
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