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Newrez Launches Joint Venture Mortgage Company In Cleveland

Navi Persaud
Nov 05, 2021

Newrez LLC in partnership with real estate brokerage firm, Schmidt Family of Companies, officially launched its joint venture mortgage company, Coast One Mortgage.

The new mortgage company is headquartered in Cleveland and focuses on residential purchase mortgage lending. Over the past year, Coast One Mortgage expanded to serve borrowers across Ohio, Michigan, and Florida with plans for continued expansion into more states. 

A 30-year mortgage industry veteran, Marty Garrity, is leading Coast One Mortgage as the joint venture president. Coast One Mortgage is currently looking to hire area sales managers in Florida and Ohio, as well as loan officers in Ohio, Michigan, and Florida.

“Through this joint venture partnership, our company is equipped with the talent, experience, resources, and bandwidth to make a positive impact on borrowers in the Midwest and Florida,” said Marty Garrity, president of Coast One Mortgage. The launch of Coast One Mortgage marks Newrez's 19th joint venture partnership.

Schmidt Family of Companies is a fifth-generation, full-service real estate brokerage firm founded in 1927 specializing in residential, luxury, and commercial real estate sales, title, relocation, and property management services. It operates more than 90 real estate offices with 2,000 agents across upper and lower Western Michigan, both coasts of Florida, Northeast Ohio, and the U.S. Virgin Islands. 2020 sales volume for the Schmidt Family of Companies was $4.75 billion with 19,603 transactions.

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