New Joint Venture
NewRez and Shelter Mortgage Announce Formation of New Joint Venture Lender
December 23, 2019
Fort Washington, PA (December 23, 2019) — NewRez LLC (“NewRez”), a national mortgage lender, announced today the formation of a new joint venture mortgage company to be added to its network of partners. NewRez and Shelter Mortgage Company, L.L.C. (“Shelter Mortgage”), the NewRez business division focused on JV lending, have partnered in this venture with Atlanta Fine Homes Sotheby’s International Realty, the exclusive Sotheby’s International Realty® affiliate in Metro Atlanta with a servant-first commitment to providing an extraordinary experience for buyers and sellers throughout Metro Atlanta and beyond. The new joint venture lender, will be led by mortgage lending industry veteran Glenda Snyder.
Atlanta Fine Homes Sotheby’s International Realty has a rich history and long-standing commitment to the three tenets of passion, experience and reputation. Through a partnership with lending industry leader Shelter Mortgage, the company is able to significantly expand its services and impact with direct access to a broad product menu, including portfolio and Non-QM resources, bringing exceptional benefits to both agents and clients.
“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 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. Glenda’s focus on superior service will be a perfect match for the agents and clients at Atlanta Fine Homes Sotheby’s International Realty.”
“NewRez and Shelter offer best-in-class service along with a broad product offering that our agents and homebuyers want and expect,” said David Boehmig, President, Chief Executive Officer and Founder of Atlanta Fine Homes Sotheby’s International Realty. “In seeking a partner, we recognized their market strength and reputation as the right fit for us and look forward to being a part of this successful JV operations model.”
For more information on the Shelter Mortgage joint venture platform, please contact Randy.VandenHouten@sheltermortgage.com or go to newrez.com.
About NewRez LLC
NewRez LLC (NewRez), formerly New Penn Financial, LLC, is a leading nationwide lender that focuses on offering a breadth of industry-leading products, supported by a loan process that blends both human interaction and the benefits of technology into an unparalleled customer experience. Founded in 2008 and licensed to lend in 49 states, NewRez is headquartered in Fort Washington, Pennsylvania and operates multiple lending channels, including Correspondent Lending, Wholesale, Direct-to-Consumer, Retail, and a network of joint venture partners. NewRez is member of the New Residential Investment Corp. family. More information is available at www.newrez.com.
About Shelter Mortgage Company, L.L.C.
Shelter Mortgage Company, L.L.C. (Shelter) is a leading retail residential mortgage originator predominantly focused on conforming purchase money loans generated through relationships with realtors, builders, and relocation companies. Founded in 1984 as a subsidiary of a community bank, Shelter joined the NewRez family of companies in 2014. The company has loan officers across the country with joint venture and partner relationships in over 30 states. Shelter has built a strong platform via its differentiated, partnership-based origination model, focus on purchase money originations and compliance-oriented culture.
About Atlanta Fine Homes Sotheby’s International Realty
Atlanta Fine Homes Sotheby’s International Realty was founded in 2007 as the exclusive Sotheby’s International Realty® affiliate in Metro Atlanta with offices in Buckhead, Cobb, Intown and North Atlanta. The company builds upon the 275-year foundation and heritage of Sotheby’s, the esteemed auction house, and utilizes a combination of unique and exclusive marketing efforts to provide targeted exposure to a coveted and influential audience. Atlanta Fine Homes Sotheby’s International Realty’s 460+ agents serve the greater metro area and beyond. The Sotheby’s International Realty® network currently has approximately 23,000 affiliated independent sales associates located in over 1,000 offices in 72 countries and territories worldwide. Last year, the brand achieved a record global sales volume of $112 billion, with Atlanta Fine Homes Sotheby’s International Realty contributing $2.6 billion to the total.