National mortgage lender and servicer NewRez LLC and The Menkiti Group, a real estate services company, have launched a new joint venture mortgage company, Mission Mortgage LLC.
Mission Mortgage, focused on residential mortgage lending, will be headquartered in Washington, D.C., with clients across D.C., Maryland and Virginia. The new joint venture lender is led by Tom O’Keefe, a 25-year mortgage industry veteran, and will be NewRez’s 19th JV partnership under the portfolio of Shelter Mortgage Company LLC, the NewRez business division focused on joint venture lending.
“The Menkiti Group is the perfect fit for a partnership as we continue to grow our joint venture network,” says Shelter Mortgage’s Randy VandenHouten. “Our organizations are aligned in recognizing that lending is about more than just home financing – it is about building communities and investing in individuals and families. We are thrilled to add a partner with such an innovative approach to real estate and passion for the work that they do.”
Founded in 2008 and licensed to lend in 49 states, NewRez is headquartered in Fort Washington, Pa, and operates multiple lending channels, including direct, wholesale and correspondent. The servicing business operates through NewRez Servicing, the performing loan servicing division, and Shellpoint Mortgage Servicing, the special servicing division.
Photo: Randy VandenHouten