NewRez and Shelter Mortgage Announce Formation of New Joint Venture Lender, Landed Home Loans
November 18 2019 - 7:30AM
Business Wire
Mortgage lender’s latest
partnership helps educators, healthcare workers, first responders
afford homes in the communities they serve
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, L.L.C. (“Shelter Mortgage”), the NewRez business division
focused on JV lending, have partnered in this venture with Landed,
Inc. (“Landed”), a company based in San Francisco with down payment
support and homebuyer education programs aimed at helping teachers
and school employees afford to buy homes. The new joint venture
lender, to be named Landed Home Loans LLC (“Landed Home Loans”), is
based in Colorado and is currently recruiting a centralized sales
leader and team to support borrowers in select markets
nationwide.
In addition to Landed’s unique shared equity down payment
program, the company also works with school employees to help them
navigate and access all of the available options for buying a home
and offers education in finance and the homebuying process. Through
partnership with lending industry leader Shelter Mortgage, Landed
is able to significantly expand its services and impact. Landed
Home Loans is creating a centralized platform with a customized
origination and operations system, designed specifically for Landed
customers.
“We are excited to join Landed in its mission to help these
critical community supporters purchase homes that might otherwise
be out of their reach,” says Randy VandenHouten, SVP, Joint
Venture & Retail Lending, NewRez. “As we continue to seek out
creative leadership and innovative partnerships to complement and
expand our joint venture channel, we are impressed by Landed’s
outside the box and thoughtful approach to the homebuying
experience.”
“The partnership with NewRez, backed by Shelter Mortgage’s 30
years of industry experience, enables us to greatly strengthen the
support we can offer essential professionals as they move through
the homebuying process,” says Jesse Vaughan, Co-Founder, Landed.
“By adding a lender partnership, we further Landed’s mission to
help those who serve our communities build financial security.”
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 member of the New
Residential Investment Corp. family. More information is available
at www.newrez.com.
About Shelter Mortgage Company, L.L.C.
Shelter Mortgage Company, L.L.C. (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 Landed, Inc.
Landed is a San Francisco-based company helping essential
professionals build financial security near the communities they
serve. Landed partners with schools, districts, and community
organizations to provide down payment support and homebuyer
education to educators and staff.
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Karen Murray kmurray@powersbc.com (o) 610-644-1022 (m)
215-850-4645
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