Mortgage

loanDepot partners with homebuilder AV Homes to launch mortgage venture

AVH Mortgage will be available to AV Homes buyers

Homebuilder AV Homes will now be able to offer buyers a mortgage along with their new homes, thanks to a partnership between the homebuilder and loanDepot.

The companies are launching a joint venture called AVH Mortgage, which will provide mortgages for AV Homes buyers.

AV Homes is one of the top 25 homebuilders in the country, and currently operates in Florida, the Carolinas and Arizona. The company’s key markets are Orlando, Jacksonville, Phoenix, Charlotte, and Raleigh.

According to the homebuilder, it closed 2,465 homes in 2016. The company did not have 2017 statistics available.

Going forward, future buyers in any of AV Homes’ communities will be able to get a mortgage and a home all in one, if they so choose.

Technically, loanDepot will be providing the mortgages for the AVH Mortgage joint venture, but the companies state that borrowers will have a “seamless” experience, thanks to mello, loanDepot’s proprietary end-to-end technology platform.

loanDepot launched mello earlier this year after 18 months of development. The three parts include a web-based consumer portal, a mobile point of sale system, and a fully digital mortgage loan application.

According to loanDepot, AVH Mortgage will be one of the first to use the mello platform to power its lending experience.

“We are excited that the next generation of AV Homes customers will be among the first to use our innovative mello technology thanks to this joint venture partnership,” said Dan Peña, senior vice president of national joint ventures for loanDepot.

“We’re confident that they will be delighted with the seamless purchase experience that mello will provide,” Peña added. “Our mello technology will enable prospective AV Homes customers to complete their loan transaction within the mello ecosystem — bringing them invaluable time savings. Our goal is to be one of the first highlights in the homebuyer’s purchase experience.”

Roger Cregg, president and chief executive officer of AV Homes, said that the homebuilder views loanDepot as the ideal partner for launching a mortgage venture.

“We are pleased to have a highly successful operating partner in loanDepot involved with us to offer our new home buyers a broad range of products with the highest levels of customer service to support their needs,” Cregg said. “The AVH Mortgage venture demonstrates our ability to leverage our growing business to efficiently provide value added benefits to our customers and shareholders.”

AVH Mortgage will be based in Scottsdale, Arizona, and will feature a centralized and integrated team of licensed loan consultants supporting AV Homes communities in the company’s five markets.