New Penn Financial Announces “Consortium” Joint Venture Model Offering New Mortgage Opportunities for Partners

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HER Realtors and Dilbeck Real Estate are the first two companies to launch new mortgage venture.

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“We want real estate companies and builders that wish to benefit from offering mortgages to their clients to do so by partnering with New Penn Financial and Shelter Mortgage.”

New Penn Financial, a nationally-recognized mortgage lender, announced the launch of Partners United Financial http://partnersunitedfinancial.com —a consortium-style joint venture that will operate under the company’s Shelter Mortgage division. This model allows real estate brokerages and builders the ability to offer their clients a complete array of mortgage services from a platform that accommodates participants’ concerns about ease of entry into the mortgage arena.

“The New Penn and Shelter Mortgage teams continually look for new opportunities to partner with real estate brokerages and builders, but for many, there are regulatory or compliance concerns as well as time-consuming or costly barriers to entry,” says Corey Caster, CEO of Shelter Mortgage. “We felt that it was imperative that we help our partners overcome these challenges with a new way of doing business in this space.”

The first two participating brokerage partners are HER Realtors (Columbus, Ohio) and Dilbeck Real Estate (Pasadena, California). According to Caster, these are two of America’s most innovative real estate companies, who were on board with the new model from the start. “We needed a partner with the right leadership and infrastructure to make this model successful,” says Harley Rouda, CEO of HER Realtors. “Luckily, we found that partner in New Penn Financial and Shelter Mortgage,” he states. For Mark Dilbeck, CEO of Dilbeck Real Estate, it’s simple: “Brokerages need to grow and diversify their earnings streams, and we think this is the most practical way to do so.”

New Penn Financial’s Chris Derrow will lead the consortium-joint venture division, and Mike Mulgrew will oversee Partners United Financial, along with the leadership at Dilbeck and HER. In addition to running daily operations, the team will also focus on reaching out to prospective real estate brokerages and builders to continue expanding the partnership and creating new financial opportunities.

“We want real estate companies and builders that wish to benefit from offering mortgages to their clients to do so by partnering with New Penn Financial and Shelter Mortgage,” says Jerry Schiano, CEO of New Penn Financial. “We’re committed to an efficient and compliant business model that our partners can leverage,” continues Schiano. “Our leadership position in the joint venture space is something we’re very proud of, and we want to continue bringing value, like this consortium-style model, to our partners.”

For more information on New Penn Financial’s joint venture partnerships, contact: Chris Derrow, (614) 406-2066. For media inquiries, contact: Courtney Green, (469) 872-5326.
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About New Penn Financial

New Penn Financial® has become a leading nationwide lender by bringing expertise, extremely competitive rates on a broad portfolio of mortgage products, and exceptional customer service under one roof. Founded in 2008, and licensed in 48 states, the company and its reputation have grown rapidly under the guidance of a management team with years of experience in the mortgage industry. New Penn is headquartered in Plymouth Meeting, Pennsylvania and operates offices nationwide. New Penn is a Shellpoint Partners company. More information is available at http://www.newpennfinancial.com.

About Shelter Mortgage Company

Shelter Mortgage is a leading retail residential mortgage originator predominantly focused on conforming purchase money loans generated through relationships with realtors, builders, and relocation companies. Founded in 1984 as a subsidiary of a community bank, Shelter has loan officers across the country with over 25 joint venture and partner relationships in over 30 States. Shelter has built a strong platform via its differentiated, partnership-based origination model, focus on purchase money originations, and compliance-oriented culture.

About Dilbeck Real Estate

Dilbeck Real Estate is a local family-owned company helping friends, neighbors and families create new beginnings and lasting memories since 1950. With over 600 sales associates in 14 offices throughout southern California and over $1.5 billion in sales volume in 2016, Dilbeck is ranked among the top independent real estate companies in the nation. Dilbeck Real Estate provides residential sales and leasing, estate home sales, commercial sales and leasing, corporate sales, new home sales and relocation. Visit http://www.dilbeck.com

About HER Realtors

Founded in 1956, HER® Realtors® is the country's largest agent-owned real estate firm and is consistently recognized as one of the most innovative, technologically advanced, and award-winning firms in the country. With 1,250 agents and 75 offices throughout Ohio and Northern Kentucky, HER Realtors offers a full-range of services to its clients including residential and commercial real estate sales, property management and rental services, mortgage, title services, insurance, home warranties, and other home-related, lifestyle services. To learn more, visit http://www.HERRealtors.com.

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Christopher Gillespie

Desiree Collazo-Soto
New Penn Financial
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