New mortgage company to provide affordable housing options
National mortgage lender and servicer Newrez has expanded its network of joint venture mortgage companies with the launch of Carnegie Mortgage Partners.
Newrez opened the New Jersey-headquartered joint venture in partnership with Keller Williams Bergen County Partners. Carnegie Mortgage specializes in residential purchase mortgage lending and will offer a comprehensive suite of mortgage products through Newrez and Newrez Ventures.
“The joint venture value proposition is a commitment of excellence in customer service not only to its clients but its referring partners as well,” said Margaret Bernabei, who will serve as president of Carnegie Mortgage Partners. “I am thrilled to be part of such an incredible enterprise between two partners who are experts in their industries and understand how to grow and succeed in this model.”
Al Donohue, operating principal of Keller Williams Bergen County Partners, commented: “We are excited to partner with Newrez because their vision, and more importantly, their values fit nicely with our own. We feel that bringing mortgage operations in-house will allow us to provide a one-stop-shop that will provide an enhanced experience for our agents and their clients.”
According to its media release, this strategic partnership aligns with Newrez’s commitment to expanding access to affordable housing for borrowers nationwide. It comes on the heels of the recent addition of Onward Home Mortgage to Newrez Ventures’ Joint Venture network.
In addition to its joint venture network, Newrez originates loans across various lending channels, including retail, wholesale, correspondent, and direct-to-consumer. The nonbank also offers non-QM and other specialty loans.
“Carnegie Mortgage Partners’ unwavering commitment to continued growth and exceeding customer expectations aligns seamlessly with the Newrez way,” said Randy Vanden Houten, senior vice president of joint venture and retail lending at Newrez. “We look forward to working with such a strong and experienced partner.”
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