Late last month, NewRez and Shelter Mortgage Company, the division of NewRez that focuses on joint ventures, launched a new mortgage lending company with Landed, a homeownership investment startup that helps teachers a home by helping them with their down payment.
Now, the companies are partnering with two prominent real estate brokerages in Atlanta and Cleveland to launch two new mortgage companies.
In the last two weeks, NewRez and Shelter Mortgage announced that they’ve entered into two new lending partnerships, one with Atlanta Fine Homes Sotheby’s International Realty and one with Cleveland’s Russell Real Estate Services.
The mortgage lending joint venture with Atlanta Fine Homes Sotheby’s International Realty will be called Legacy Home Mortgage.
Through the partnership, Atlanta Fine Homes Sotheby’s International Realty will now be able to “expand its services and impact with direct access to a broad product menu, including portfolio and non-QM resources, bringing benefits to both agents and clients,” the company said in a release.
According to the companies, Legacy Home Mortgage will be led by Glenda Snyder.
“Atlanta Fine Homes Sotheby’s International Realty is a premier brokerage in the marketplace with highly productive agents and consistently satisfied clients,” said Randy VandenHouten, senior vice president of joint venture & retail lending, NewRez.
“As we continue to add to our roster of JV partners, we are pleased to join together with an organization with such strong leadership and a tradition of philanthropy and commitment to community,” VandenHouten added. “Glenda’s focus on superior service will be a perfect match for the agents and clients at Atlanta Fine Homes Sotheby’s International Realty.”
David Boehmig, president, CEO and founder of Atlanta Fine Homes Sotheby’s International Realty, said the company chose to partner with NewRez and Shelter due to the companies’ reputations and positions in the market.
“NewRez and Shelter offer high quality service along with a broad product offering that our agents and homebuyers want and expect,” Boehmig said.
But Legacy Home Mortgage isn’t the only new company NewRez and Shelter are launching.
The companies are also partnering with Russell Real Estate Services, which was founded in 1962 and now has more than 650 agents on its team, to found Your Home Financial.
The joint venture is already up and running under the leadership of President Paul McKelvey with seven loan officers on staff.
“After months of diligent preparation, we are very excited for the official launch of Your Home Financial, which will bring our clients a more complete range of mortgage services through the trusted JV model offered by NewRez and Shelter Mortgage,” said Jeff Russell, Russell Real Estate Services’ chief operating officer and broker/owner.
VandenHouten stated that the since the company started working with McKelvey and his team, “we have been greatly impressed by their expertise and focus on client service, and we are confident this will prove to be a very successful partnership.”