In a shrinking market, lenders are trying to find avenues to drum up business. There are signs that one such avenue may be joint ventures.
At least three lenders in November announced the formation of joint ventures with real estate partners or homebuilders. The partnerships allow all parts of the homebuying process to be brought under one roof.
The most recent announcement came from
Nations Lending also announced a partnership with Indiana-based Carpenters Realtors in the formation of Commitment Mortgage. The Ohio-based lender said the joint venture "aims to improve the homebuying process for clients by offering an end-to-end experience from finding a home to closing a loan"
Meanwhile,
According to Mike Blasius, future president of Carnegie Mortgage Partners, "joining forces with Keller Williams Bergen County Partners brings …growth potential."
"I look forward to building a team to rapidly scale the business and bring that growth to fruition," he said.
A statement
"The venture also provides a high-quality experience for borrowers because Commitment retains a high percentage of its mortgage servicing rights, through its parent, Nations Lending," the company said. "This ensures borrowers will get a consistent, unified experience from the very start of their home search right on through to the application process and monthly payments."
