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NHC Mortgage offers mortgages in Florida, Iowa and North Carolina, with plans to expand to nine more states in 2023.
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On Wednesday, loanDepot went back to basics when it announced a new joint venture with a Georgia homebuilder.
LoanDepot, which laid off more than 5,000 employees as rising interest rates stifled profitable refinancing, has pursued a number of joint ventures with homebuilders under the leadership of founder Anthony Hsieh .
This summer, Martel said loanDepot will exit its wholesale lending business and continue to “aggressively right its cost structure” while increasing its focus on purchase transactions.
NHC Mortgage, a new joint venture between LoanDepot and homebuilder National HomeCorp, will offer mortgages in Florida, Iowa and North Carolina, with Kentucky, Arizona, Virginia, Texas, Alabama, Missouri, Georgia, Tennessee and South Carolina coming next year. We plan to expand.
National Homecorp specializes in building affordable homes, and the joint venture will provide homebuyers with the “best-in-class customer service” that Loan Depot is famous for, said Dan, executive vice president of Loan Depot’s national joint venture. Pena said.
Dan Pena
“Affordability is one of the major housing issues of our time, and loanDepot’s strategic focus in increasing and retaining home ownership in underserved communities is to make affordable housing affordable. It’s a natural complement to National HomeCorp’s commitment to ,” Peña said in a statement.
In its joint venture pitch to a homebuilder, loanDepot pitched mello, an end-to-end digital lending platform. This is what the company introduced in 2017 after pouring his $80 million into development over 18 months.
National Home Corporation. Co-founder and CEO Wade Journey said loanDepot’s “industry-leading expertise, technology and infrastructure” will enable the joint venture to “rapidly scale and streamline the home buying process so that customers can and ensure a great experience when embarking on construction.” Journey. “
Last summer, loanDepot announced a joint venture with Farm Bureau Bank to provide mortgages and mortgage refinancing to over 5 million Farm Bureau members in 45 states.
Based in Foothill Ranch, Calif., loanDepot’s other joint ventures include LGI Mortgage Solutions (partnership with LGI Homes), Henlopen Mortgage (partnership with Shell Brothers), and BRP Mortgage (partnership with Brookfield Residential). ), MTH Mortgage (in partnership with Meritage Homes), MSC Mortgage (in partnership with Michael Sanders and Company), TRI Pointe Connect (with Tri Pointe Homes), Day 1 Mortgage (with Century 21 Redwood Realty).
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