Launch of New Joint Venture
NewRez and Shelter Mortgage Announce Launch of New Joint Venture Lender, Your Home Financial
December 19, 2019
FORT WASHINGTON, Pa.--(BUSINESS WIRE)--NewRez LLC (“NewRez”), a national mortgage lender, announced today the official launch of one of the latest Joint Venture mortgage companies to join 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 Russell Real Estate Services, a long-standing family-run business serving the greater Cleveland, OH area. The new Joint Venture lender, Your Home Financial (“Your Home Financial”), is now fully operational under its independent name with a team of seven loan officers led by President Paul McKelvey.
Your Home Financial is built on the foundation of two companies well established in the industry, coming together to offer buyers a wide array of options and services through a single source. Russell Real Estate Services was founded in 1962 and has grown to over 650 agents on its team today. Shelter Mortgage Company brings more than 30 years of experience in creating profitable Joint Ventures like Your Home Financial and positioning them for success.
“For close to 60 years, Russell Real Estate services has proven itself to be a highly respected company that continues to evolve to meet the needs of its growing client base in the Cleveland market,” said Randy VandenHouten, Senior Vice President, Joint Venture & Retail Lending, NewRez. “Since we started working with Paul 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.”
“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, Chief Operating Officer Broker/Owner.
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 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.