New business expands the retail lender's reach and market share
loanDepot has partnered with National HomeCorp, a Georgia-based homebuilder specializing in affordable single-family homes, to form a new joint venture, NHC Mortgage.
NHC is the latest in a string of joint ventures for loanDepot as part of its strategy to expand its purchase market share. The new mortgage joint venture will offer full-service, residential mortgage offering and personalized service in Florida, Iowa and North Carolina, with plans to add Kentucky, Arizona, Virginia, Texas, Alabama, Missouri, Georgia, Tennessee and South Carolina in 2023.
"Affordability is one of the key housing issues of our time, and loanDepot's strategic focus on increasing and sustaining homeownership in underserved communities is a natural complement to National HomeCorp's commitment to affordable housing," said Dan Peña, executive vice president of national joint ventures at loanDepot. "This new joint venture enables us to bring the American dream of homeownership to even more individuals and families across the country while providing National HomeCorp's customers with the best-in-class customer service loanDepot is known for every step of the way."
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"National HomeCorp is committed to building affordable and dependable homes in incredible communities across the United States while providing our customers with an exceptional, full-service homebuying experience," said Wade Jurney, CEO and co-founder of National HomeCorp. "loanDepot's industry-leading expertise, technology and infrastructure will allow us to quickly scale and streamline the homebuying process to ensure a terrific experience as our customers embark on their homebuying and building journey."
