Industry Watch: Newrez completes Caliber buy, LRES acquires Keystone Asset Management and more

Newrez has reported the completion of its previously announced acquisition of Caliber Home Loans. Upon closing of the acquisition, Newrez parent company New Residential intends to bring together the mortgage platforms of both Caliber and Newrez, adding about $150 billion in unpaid principal balances to its mortgage servicing rights, as well as Caliber’s extensive national footprint, particularly in purchase lending. On a combined basis, Newrez and Caliber funded about $45 billion in volume during second-quarter 2021 and serviced some $465 billion in mortgages, according to a statement from Newrez. Following the finalization of the acquisition, Sanjiv Das and Baron Silverstein will lead the combined platform, with Das taking on the role of CEO and Silverstein serving as president and chief operating officer.

Geneva Financial has announced the opening of a new branch in Montrose, Colorado, led by branch manager Lynn Whipple.

LRES Corp. has announced the signing of a definitive agreement to acquire Keystone Asset Management. The deal is expected to be completed Sept. 1, 2021, and the joined companies will operate under the LRES Corp. name.

LendSure Mortgage Corp. has announced that it is now a licensed lender in Missouri and has opened a new office in Ellisville, Missouri. This makes Missouri the fifth state in which LendSure has established operations, following the company’s home state of California along with Rhode Island, Georgia and Utah.

AppraisalWorks has announced new upgrades to its appraisal management technology platform, further automating key elements of the appraisal management process. The platform has added quote-management tools for residential and commercial real estate assignments, an automated electronic appraiser payment module, and direct connectivity to the Encompass loan origination system platform.

Churchill Mortgage has announced the acquisition of Oregon-based Team Canales, which is located in the Salem market and also maintains a presence in Portland, Eugene and Corvallis. The team joins Churchill’s Pacific Northwest division, which has now grown to 24 locations across seven states.

Planet Home Lending has opened a new branch in New Albany, Indiana. The branch is located at 821 Mt. Taber Rd., Ste. 210, and is led by retail branch manager Stephen Day.


More Headlines