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NewRez LLC and The Menkiti Group have joined together in partnership to launch Mission Mortgage, a company focused on residential mortgage lending that will be headquartered in Washington, DC. Mission Mortgage will be led by Tom O'Keefe and serve clients DC, Maryland and Virginia, according to a press release.
The new venture will mark NewRez's 19th JV partnership under the portfolio of Shelter Mortgage Company, LLC, a 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," said Randy VandenHouten, senior vice president of joint venture and retail lending of Shelter Mortgage Company. “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 confident this partnership will help us reach more borrowers, facilitate greater access to homeownership, drive wealth creation for those we serve, and strengthen our ability to fulfill our mission of transforming lives, careers and communities through real estate," said Bo Menkiti.
According to the release, Mission Mortgage will make a donation to a charitable cause for every closed loan. Areas of impact include housing, education, youth and entrepreneurship, and will be facilitated by The CPMG Foundation, the non-profit organization co-founded by The Menkiti Group.