November 3, 2021
Newrez and Shelter Mortgage Announce Launch of its 19th Joint Venture Partnership
Fort Washington, PA— Newrez LLC (“Newrez”, the “Company”), a national mortgage lending and servicing organization, announced today, in partnership with family-owned, full-service real estate brokerage firm Schmidt Family of Companies, the official launch of joint venture mortgage company Coast One Mortgage, LLC (“Coast One Mortgage”).
Headquartered in Cleveland, Coast One Mortgage focuses on residential purchase mortgage lending. Over the past year, Coast One Mortgage has expanded to serve borrowers across Ohio, Michigan and Florida with plans for continued expansion into more states. 30-year mortgage industry veteran, Marty Garrity, is leading Coast One Mortgage as the Joint Venture President. Coast One Mortgage is currently looking to hire area sales managers in Florida and Ohio, as well as loan officers in Ohio, Michigan, and Florida.
“Coast One Mortgage is committed to creating a top-tier experience for our customers and to growing our footprint into new markets,” said Marty Garrity, President of Coast One Mortgage. “Through this joint venture partnership, our company is equipped with the talent, experience, resources and bandwidth to make a positive impact on borrowers in the Midwest and Florida. With our platform and industry experience, we can create a better experience for borrowers as they purchase a new home or refinance their existing one.”
The launch of Coast One Mortgage marks a meaningful milestone for Newrez and represents the Company’s 19th joint venture partnership. Schmidt Family of Companies, operating under the brands of Coldwell Banker, Sotheby’s International Realty and Century 21, has a proven tenure in serving the region and brings a wealth of local real estate knowledge that strongly complements the joint venture partners.
“Schmidt Family of Companies is known as a premiere broker in the market with highly productive agents and consistently satisfied clients,” says Randy VandenHouten, SVP, Joint Venture & Retail Lending, Newrez. “As we continue to add to our roster of joint venture partners, we are pleased to partner with an organization that demonstrates such strong leadership and emphasizes traditions of philanthropy and community commitment.”
For more information on Coast One Mortgage, visit https://www.coastonemortgage.com/.
Newrez is a leading mortgage company that combines mortgage origination and servicing to provide a customer-first journey and help our customers make smart moves throughout the lifetime of their mortgage loans. Differentiated by its origination platform, the Company provides customers with unparalleled lending options to purchase and refinance. Its servicing business services loans on behalf of Newrez customers and includes third-party servicing brand, Shellpoint Mortgage Servicing. Founded in 2008, Newrez is headquartered in Fort Washington, Pennsylvania and is a member of the New Residential Investment Corp. family.
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 Schmidt Family of Companies
Schmidt Family of Companies is a fifth generation, full-service real estate brokerage firm founded in 1927 specializing in Residential, Luxury and Commercial real estate sales, Title, Relocation and Property Management services. Schmidt Family of Companies operates over 90 real estate offices with 2,000 agents across upper and lower Western Michigan, both coasts of Florida, northeast Ohio and the U.S. Virgin Islands. 2020 sales volume was $4.75 Billion with 19,603 transactions. Schmidt Family of Companies is one of the largest and most respected real estate companies in the country.
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