Newrez taps more real estate brokerages to expand footprint

Newrez announced two partnerships with real estate brokerages in the recents months, adding to its portfolio of dozens of existing joint ventures across the country.

Most recently, the mortgage company joined forces with Meybohm Real Estate to create Meybohm Mortgage, while the other partnership announced in October is with Keller Williams Georgia Legacy Group in the creation of Onward Home Mortgage. 

Both partnerships will expand Newrez’ footprint into the Southeast, the lender said in two separate press releases. Through this arrangement real estate agents can access in-house loan officers to help with qualifying a borrower but they are in no way obligated to use LOs that are part of the joint venture.

In the past three decades, Newrez has been able to nurture at least 22 joint ventures with a number of brokerages. These collaborations allow all parts of the homebuying process to be brought under one roof, with the mortgage shop’s technology used to power the origination  process.Regarding its joint venture with Meybohm Real Estate, Newrez called the milestone a “significant expansion of Newrez Ventures’ portfolio.”

“This strategic move aligns with our vision of delivering unparalleled value to clients and reshaping the real estate landscape,” said Randy Vanden Houten, SVP of joint venture lending at Newrez, in a press release.

Meanwhile, its partnership with Keller Williams Georgia Legacy Group (GLG), is at least the second partnership with a division inside of the real estate company. (In 2022 a partnership was struck between the lender and Keller Williams Bergen County Partners to create New Jersey-based Carnegie Mortgage Partners.)The joint venture “combines the deep network of real estate agents within Keller Williams GLG and the seasoned mortgage professionals at Onward Home Mortgage with the backing and resources of… Newrez,” the company said in a statement. 

Other lenders, such as Kind Lending, have also formed strategic joint ventures to grow business. The Santa Ana, California-based lender announced in March it entered into a joint venture with RE/MAX Results in a bid to capture more purchase business in the Midwest. This is Kind Lending’s second partnership with a real estate company.At the end of last year, at least two other lenders, including loanDepot and Nations Lending, announced collaborations with real estate or builder partners.