On Q Financial, a retail mortgage lender and division of Quicken Loans, has announced that they are forming a joint venture partnership with former NewRez partners, New Penn Financial and Shellpoint Mortgage Servicing. Together, On Q Financial and the former NewRez partners will leverage their experience and expertise to provide origination, servicing, and technology to support mortgage lending operations.

On Q Financial brings expertise in both the retail and wholesale mortgage markets and offers mortgage products nationwide to their customers. The former NewRez partners, New Penn Financial and Shellpoint Mortgage Servicing, both bring a wealth of expertise in traditional loan servicing, servicing non-performing loans, and the ability to originate mortgage products in all 50 states. This joint venture allows On Q Financial to provide a more diversified mortgage product offering for their customers.

The combined strengths of On Q Financial and the former NewRez partners will create a platform that offers clients innovative technologies and financial solutions in the home buying and refinancing markets. This joint venture will allow On Q Financial the opportunity to bring a more comprehensive service offering to their consumers. In addition, they will gain access to capital to finance their operations and improve the overall experience for their customers.

The joint venture between On Q Financial, New Penn Financial, and Shellpoint Mortgage Servicing will enable On Q Financial to more easily and efficiently provide competitively priced mortgage products to their customers. This will help them capitalize on potential opportunities and grow their market share. With new products and innovative technologies, they are positioned to offer a more comprehensive service offering while providing better financial solutions to their clients.

You can read this full article at: https://www.housingwire.com/articles/on-q-financial-to-form-jv-with-former-new-rez-partners/(subscription required)

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