NewRez and Shelter Mortgage Announce Formation of New Joint Venture, Homeowners First Mortgage
October 09 2019 - 7:30AM
Business Wire
Mortgage lender’s latest
partnership bolsters homeowner loan offerings through First Team
Real Estate, renowned industry leader in Southern California
market
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”), the NewRez business division
focused on JV lending, have partnered in this venture with First
Team Real Estate (“First Team”), the proven unit sales leader in
Southern California, founded in 1976. The name of the new joint
venture is Homeowners First Mortgage (“Homeowners First Mortgage”),
and will be led by James (Jaime) Barton, currently a Regional Sales
Manager with NewRez.
Homeowners First Mortgage emerged from an ideal partnership
opportunity between respective industry leaders First Team and
Shelter Mortgage. First Team founder and CEO Cameron Merage’s
commitment to innovation and creativity has led his company to
continue to capture significant market share, expanding to the
current 38 office locations and a team of more than 2,200
associates in the competitive and high-end Southern California
region. Shelter Mortgage complements First Team’s success, bringing
more than 30 years of experience in creating successful and
profitable joint ventures, and together, they provide a diverse set
of mortgage options and services to the Southern California
market.
“First Team has clearly distinguished itself as the ideal
resource for home buyers in Southern California, with the
experience and innovative approach to make buyers’ dreams a
reality,” says Randy VandenHouten, SVP, Joint Venture &
Retail Lending, NewRez. “At NewRez, we seek forward-looking firms
like First Team to be part of our joint venture partnership program
and believe that our best-in-class Non-QM product and diverse jumbo
product offering will further enhance the company’s already high
level of performance and revenue capability.”
“After 40 years in the mortgage business, we sought the precise
leadership and infrastructure that would provide us the opportunity
to successfully bring added value to our tens of thousands of
clients through our sales associates,” said Merage. “Through the
unique joint venture model offered by NewRez and Shelter Mortgage,
we look forward to offering our clients and sales associates a
truly comprehensive range of mortgage services from an
industry-leading platform and confidently expanding our
capabilities into the mortgage business. Homeowners First Mortgage
will prove to be a win for both partners and, most importantly, for
homeowners in Southern California.”
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 Fort Washington,
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 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.
About First Team Real Estate – Orange County
First Team | Christie’s International Real Estate is a
destination brokerage that prides itself on a 42-year tradition and
the distinction of being #1 in total unit sales and #1 in luxury
unit sales. Since 1976, First Team Real Estate has helped hundreds
of thousands of homebuyers and sellers achieve their real estate
goals. Beginning with just one office in Huntington Beach, we have
grown to 38 office locations across Southern California with 2200+
associates.
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Karen Murray kmurray@powersbc.com (o) 610-644-1022 (m)
215-850-4645
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