Mortgage Consortium Targeting Realtors, Builders

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MORTGAGE EXPERT
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A new consortium-style joint venture is making it easy for real estate brokerages and home builders to get into the home financing business.

Partners United Financial LLC has opened for business. The organization give participants a mortgage platform that
accommodates concerns about ease of entry.

Two new partners are the HER Realtors
real estate brokerage in Columbus, Ohio, and the Dilbeck Real Estate brokerage that is located in Pasadena, California.

Partners Untied will operate under the Shelter Mortgage division of
New Penn Financial LLC, according to the New Penn announcement.

“The New Penn and Shelter Mortgage teams continually look for new opportunities to partner with real estate brokerages and builders, but for many, there are regulatory or compliance concerns as well as time-consuming or costly barriers to entry,” Shelter Mortgage Chief Executive Officer Corey Caster said in the statement.

The consortium-joint venture division will be led by
New Penn Division Manager Chris Derrow, while Michael Mulgrew is serving as president of Partners United Financial.

“We want real estate companies and builders that wish to benefit from offering mortgages to their clients to do so by partnering with New Penn Financial and Shelter Mortgage,” New Penn Financial CEO Jerry Schiano said in the news release. “We’re committed to an efficient and compliant business model that our partners can leverage.”

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Mortgage Daily Staff

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