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Nations Lending, Carpenter Realtors Launch Joint Venture

David Krechevsky
Nov 15, 2022
merger

Commitment Mortgage will serve clients in Indiana.

Nations Lending Corp., a full-service national mortgage lender, announced Monday it is launching Commitment Mortgage LLC, a joint venture in partnership with Indiana-based Carpenter Realtors. 

The joint venture seeks to improve the homebuying process for clients by offering an “end-to-end experience from finding a home to closing a loan,” Nations Lending said. The joint venture will serve clients only in Indiana, though there are plans to expand it to other states, a company spokesperson said,.

Founded in 1970 and based in Indianapolis, Carpenter Realtors is locally owned and operated, with 33 offices throughout central and southern Indiana and more than 600 affiliate agents. 

Commitment Mortgage will leverage Carpenter’s agents across Indiana to assist clients with finding their dream homes, and then capitalize on diverse loan offerings that suit all types of buyers, it said.

Indiana-based mortgage industry veteran Erick Cavalcanti will serve as president of the joint venture and oversee its growth, Nations Lending said. Corey Caster, executive vice president of National Production at Nations Lending, will leverage his past experience running the joint venture channel at NewRez to lead this joint venture to success, it said.

“We view the launch of this venture as the natural progression of our company’s growth,” Caster said. “Commitment Mortgage is an opportunity for both Nations and Carpenter to bring two strong companies together to create an enhanced experience for our borrowers and employees.”

Dave Caveness, president of Carpenter Realtors, said Carpenter is “excited to bring home mortgage services into the mix we offer home buyers across central Indiana. For those buyers, the convenience this brings to the process is impactful."

Commitment Mortgage will provide Carpenter clients with access to a strong independent mortgage lender, in-house loan officers, and fast loan assistance to real estate agents, Nations Lending said. 

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. 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.

Nations Lending Corp. is one of the fastest-growing mortgage lenders in the U.S. Based in Cleveland, it is licensed in all 50 states and employs more than 1,200 at its corporate headquarters and throughout 138 branches across the U.S. 

Nations is an agency-direct lender with Fannie Mae, Freddie Mac, and Ginnie Mae, and retains mortgage servicing rights on 96% of the loans it originates.

Published
Nov 15, 2022
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