NewRez enters Southern California market in new joint-venture mortgage company

by Candyd Mendoza10 Oct 2019

NewRez and Shelter Mortgage have partnered with Southern California-based First Team Real Estate to form a new joint-venture mortgage company, Homeowners First Mortgage.

Homeowners First is the latest addition to NewRez’s network of partners. NewRez also announced that its regional sales manager in the area, James Barton, will oversee the new joint-venture firm.

“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,” said Randy VandenHouten, senior vice president of joint venture and retail lending at NewRez. “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.”

“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,” said Cameron Merage, founder and chief executive officer of First Team. “Homeowners First Mortgage will prove to be a win for both partners and, most importantly, for homeowners in Southern California.”