Pricing exceptions are widespread in mortgage — and so are the regulatory risks

Read Now

Newrez launches mortgage JV with $4B Keller Williams group in New Jersey

There are more than 1,500 agents at Keller Williams Bergen County Partners

Newrez has launched a new joint venture mortgage company, Carnegie Mortgage Partners, in collaboration with a top Keller Williams franchise network in Bergen County, New Jersey, the lender announced on Monday.

The joint venture mortgage company is led by Margaret Bernabei, a former branch manager at a CrossCountry Mortgage outpost. Carnegie Mortgage Partners’ office is in Ridgewood, New Jersey. 

Carnegie Mortgage Partners will offer mortgage products to clients of Keller Williams Bergen County Partners, a Keller Williams franchise with 15 offices spread across Ridgewood, Woodcliff Lake, Tenafly, Fort Lee and Rutherford. BCP operates as a team led by Al Donohue.

According to the 2023 RealTrends rankings, the team had 1,588 licensed agents who generated an average of $2.65 million in sales volume in 2022. In all, BCP agents notched $4.2 billion in sales volume in 2022 across 6,080 transaction sides. It placed No. 63 among the 500 best brokerages by volume.

“We are excited to partner with Newrez because their vision, and more importantly, their values fit nicely with our own,” Al Donohue, the operating principal, said in a statement on Monday. “We feel that bringing mortgage operations in-house will allow us to provide a one-stop-shop that will provide an enhanced experience for our agents and their clients.”

Last month, Newrez announced the launch of Onward Home Mortgage, a joint venture mortgage company in partnership with Keller Williams’s Georgia Legacy Group (GLG).

GLG is also part of a larger Keller Williams Realty franchise group of residential real estate brokerages located in Georgia. It includes Keller Williams Realty North Atlanta in Alpharetta, Keller Williams Realty Consultants in Roswell and Keller Williams Realty Chattahoochee North in Peachtree Corners and surrounding metropolitan Atlanta areas. 

Newrez has 16 joint venture partners, including Carolina One Mortgage, Milestone Home Lending and Summit Home Mortgage, according to its website

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular Articles

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please