Nations Lending Forms Mortgage JV with Carpenter Realtors

After announcing new branch openings and executive hires this year, Nations Lending is looking to grow by forming a joint venture with an Indiana brokerage firm that employs more than 600 agents.

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After opening four new branches and hiring two executives this year, Nations Lending Corp. is taking a new approach to growth. It’s a venture with Indiana-based Carpenter Realtors, a real estate brokerage with over 600 agents.

The joint venture Commitment Mortgage LLCwhich provides Carpenter’s clients with “access to powerful independent mortgage lenders, in-house loan officers, and rapid lending assistance to realtors.” the company said Monday.

Based in Indianapolis, Carpenter Realtors operates 33 offices in Central and Southern Indiana. Commitment Mortgage, headquartered in the Indianapolis suburb of Carmel, issued Mortgage Licensed by Indiana Regulators in July.

Eric Cavalcanti

Mortgage industry veteran Erick Cavalcanti — Facebook friends say,bald mortgage man”- was appointed president of the joint venture.his LinkedIn profileCavalcanti lists past experience as a branch manager at Nations Lending and has worked as a loan officer at Ruoff Mortgage, Horizon Bank, and PNC Mortgage.

In addition to CavalcantiCommitment Mortgage sponsors three mortgage originators. Andrew Tolliver, Sue Vizral When Mark Weddle.

Dave Caveness

Carpenter Realtors President and CEO said: Dave Caveness, in a statement. “For these buyers, the convenience this brings to the process is impactful.”

of Real Estate Settlement Procedure Actor RESPA, permits real estate brokers to operate related businesses and provide mortgages, title insurance, closing services, and other payment services to their clients.

When providing services to clients through business partners and real estate brokers must disclose Take ownership of your business, provide written estimates of the costs of services, and make sure your clients are free to shop and receive the best services and the best rates for those services to

RESPA regulations are familiar territory for Corey Caster, who was hired by Nations Lending in 2019 as Senior Vice President of National Production. According to the companies, Caster will “use his past experience running his venture channel jointly with NewRez to make this JV a success.”

Corey Castor

“We see the launch of this joint venture as a natural progression for our company’s growth,” Castor said in a statement. It’s an opportunity to improve the employee experience.”

The joint venture will retain a high percentage of mortgage servicing rights through Nations Lending, giving borrowers a “consistent and unified experience from the beginning of the home search through the application process and monthly payments.” Both companies say they can. .

Nations Lending is licensed to lend in 50 states and employs more than 1,200 people from its headquarters in Cleveland, Ohio and 138 branches nationwide. albuquerqueNew Mexico; monona When green bayWisconsin; and Crystal LakeIllinois.

In June, Nations Lending announced that it had hired a former Guarantee Rate Division Manager. Jeff Nelson As Divisional Sales Manager for the company’s East Coast branch. In August, Nations Lending announced the addition of another guaranteed rate veteran. Greg Griffin, Vice President and Central Regional Manager. As Senior Vice President of Strategic Growth at Guaranteed Rate, Griffin managed a team that generated nearly $500 million in annual loan volume, the company said.

LoanDepot is another lender seeking joint ventures with real estate brokers and home builders as part of its strategy to originate more purchase loans.Loan Depot of the Month announced NHC Mortgage, a new joint venture with homebuilder National Homecorp, will offer mortgages in 12 states.

Other joint ventures of the Foothill Ranch, Calif.-based lender include: Agriculture Department Mortgage (with Agricultural Bank), LGI Mortgage Solutions (with LGI Homes), henlopen mortgage (with the Shell brothers), BRP Mortgage (Brookfield Residential), MTH Mortgage (Meritage Homes), MSC Mortgage (with Michael Saunders & Company), TRI point connect (Tri Pointe Homes) and Day 1 Mortgage (Century 21 Redwood Realty).

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