NRZ - NewRez forms mortgage JV with minority-owned Minkiti Group in DC

New Residential's (NRZ) NewRez national mortgage lender and servicer unit partners with The Menkiti Group, a D.C.-based minority-owned integrated real estate services company, to form a new joint venture mortgage company, Mission Mortgage.Mission Mortgage, focused on residential mortgage lending, will be headquartered in Washington, DC, with clients across DC, Maryland, and Virginia.The JV is NewRez's 19th partnership under the portfolio of Shelter Mortgage Company, the NewRez business division focused on JV lending.In line with The Menkiti Group’s efforts to invest in its local community, Mission Mortgage will make a donation to a charitable cause for every closed loan. The priority areas of impact will be housing, education, youth and entrepreneurship, and will be facilitated by The CPMG Foundation, a non-profit organization co-founded by The Menkiti Group.Previously: New Residential files for spinoff of mortgage origination unit (Nov. 20)

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NewRez forms mortgage JV with minority-owned Minkiti Group in DC