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NewRez LLC appointed Michael Iorio as the company's senior division manager within the Joint Venture lending division. In his role, Iorio will oversee the Joint Venture sales group and work with the leadership team to expand and deepen existing relationships, as well as partnering with the NewRez business development team to add new and strategic partnerships, according to a press release.
Iorio has 25 years of experience in the financial lending industry, including senior leadership roles in retail, joint venture, and wholesale lending. His expertise spans sales, operations, and compliance with CMG Financial, Stearns Lending, Private Mortgage Advisors, and Wells Fargo.
"His experience developing strategic relationships will be beneficial as we continue to grow our Joint Venture footprint," said Randy VandenHouten, senior vice president of Joint Venture and Retail Lending at NewRez.
As of December 31, 2020, NewRez had 18 joint ventures with footprints across 30 states. Iorio will also focus on enhancing and innovating processes and resources to continue delivering a successful platform for the entire Joint Venture channel.
"NewRez has a great value proposition for consumers and joint venture partners, which allows us to better serve homebuyers and deliver a best-in-class mortgage process," said Iorio.