The verdict is in — the old way of doing business is over. Join us at Inman Connect New York Jan. 23-25, when together we’ll conquer today’s market challenges and prepare for tomorrow’s opportunities. Defy the market and bet big on your future.
Mortgage lender and servicer Newrez has launched a joint venture with another big Keller Williams Realty franchise group, Ridgewood, New Jersey-based Keller Williams Bergen County Partners.
The new mortgage joint venture, Carnegie Mortgage Partners LLC, will provide home loans to New Jersey residents, including those referred by the more than 1,500 agents affiliated with Keller Williams Bergen County Partners.
Keller Williams Bergen County Partners is a group of KW Real Estate offices that includes Keller Williams Village Square Realty (Ridgewood), Keller Williams Valley Realty (Woodcliff Lake), Keller Williams Town Life (Tenafly), Keller Williams City Views (Fort Lee) and Keller Williams Park Views (Rutherford).
“We are excited to partner with Newrez because their vision, and more importantly, their values fit nicely with our own,” said Keller Williams Bergen County Partners’ Operating Principal Al Donohue in a statement 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 with Keller Williams Georgia Legacy Group (GLG). GLG consists of three real estate brokerages with more than 2,000 agents serving metro Atlanta: Keller Williams Realty North Atlanta (serving Alpharetta), Keller Williams Realty Consultants (serving Roswell) and Keller Williams Realty Chattahoochee North (serving Peachtree Corners).
Newrez is a partner in a number of joint ventures through its Newrez Ventures platform, formerly known as Shelter Mortgage Company, which the company says “fosters relationships with real estate brokers, builders and relocation companies across the country” in more than 30 states.
In announcing the formation of Carnegie Mortgage Partners last year, Newrez said it was its 20th joint venture partnership under the Newrez Ventures portfolio.
“Carnegie Mortgage Partners’ unwavering commitment to continued growth and exceeding customer expectations aligns seamlessly with the Newrez way,” Newrez executive Randy VandenHouten said in a statement.
According to the Nationwide Multistate Licensing System (NMLS), Carnegie Mortgage Partners is licensed in Connecticut, Florida, Maryland, New Jersey and Pennsylvania, and sponsors seven mortgage loan originators working out of four branch offices.
Newrez’s other joint ventures include:
- Carolina One Mortgage LLC (in partnership with North Charleston, South Carolina-based Carolina One Real Estate Services), which, according to NMLS records is licensed in Georgia and South Carolina, with 19 sponsored mortgage loan originators working out of 12 branch locations.
- Coast One Mortgage (in partnership with the Schmidt Family of Companies), which operates more than 90 Coldwell Banker Offices in Ohio, Michigan and Florida). According to NMLS records, Coast One Mortgage is licensed in Alabama, Florida, Georgia, Illinois, Michigan, Ohio and Pennsylvania, with 14 sponsored mortgage loan originators working out of eight branch offices.
- Milestone Home Lending LLC (with Indiana-based Century 21 Scheetz), which, according to NMLS records, is licensed in Florida, Illinois, Indiana, Michigan and Ohio, with seven sponsored mortgage loan originators.
- Sanctuary Home Mortgage (with Atlanta Fine Homes Sotheby’s International Realty), which, according to NMLS records, is licensed in Florida and Georgia and sponsors seven mortgage loan originators working out of three branch offices.
- Your Home Financial LLC (with Strongsville, Ohio-based Russell Real Estate Services), which, according to NMLS records, is licensed in Florida, Michigan and Ohio with 11 sponsored mortgage loan originators working out of six branch offices.
Based in Fort Washington, Pennsylvania, Newrez is itself licensed in 36 states and sponsors 959 mortgage loan originators working out of 150 branch locations, according to NMLS records.
Get Inman’s Mortgage Brief Newsletter delivered right to your inbox. A weekly roundup of all the biggest news in the world of mortgages and closings delivered every Wednesday. Click here to subscribe.