NewRez LLC, a national mortgage lender based in Fort Washington, Pa., announced Wednesday the formation of a new joint venture mortgage company, Homeowners First Mortgage.
NewRez and Shelter Mortgage Company, LLC, the NewRez business division focused on joint venture lending, partnered with First Team Real Estate, a destination brokerage based in Southern California, on the new joint venture.
Homeowners First Mortgage will be led by James (Jaime) Barton, who is currently a regional sales manager with NewRez.
“First Team has clearly distinguished itself as the ideal resource for homebuyers in Southern California, with the experience and innovative approach to make buyers’ dreams a reality,” Randy VandenHouten, senior vice president of joint venture and retail lending for NewRez, said. “At NewRez, we seek forward-looking firms like First Team to be part of our joint venture partnership program and believe that our best-in-class Non-QM product and diverse jumbo product offering will further enhance the company’s already high level of performance and revenue capability.”
“After 40 years in the mortgage business, we sought the precise leadership and infrastructure that would provide us the opportunity to successfully bring added value to our tens of thousands of clients through our sales associates,” First Team founder and CEO Cameron Merage said. “Through the unique joint venture model offered by NewRez and Shelter Mortgage, we look forward to offering our clients and sales associates a truly comprehensive range of mortgage services from an industry-leading platform and confidently expanding our capabilities into the mortgage business. Homeowners First Mortgage will prove to be a win for both partners and, most importantly, for homeowners in Southern California.”