Partners United Financial Opens in California

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Joint Venture Continues Nationwide Expansion; Creates Opportunities for Real Estate Brokers, Builders, and Homebuyers in CA

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Our experienced team of mortgage bankers is excited to bring New Penn's loan products and expertise to customers in a new market under the Partners United Financial brand.

National mortgage lender New Penn Financial (New Penn) today announced that Partners United Financial has expanded into its fifth state with the opening of a new California office with partners Dilbeck Real Estate and Podley Properties, both of Pasadena. Partners United Financial is a consortium-style joint venture (JV) that operates under the Shelter Mortgage division of New Penn. The JV, launched in May 2017, currently operates in Ohio, Kentucky, Colorado, and Wyoming.

“Our experienced team of mortgage bankers is excited to bring New Penn’s loan products and expertise to customers in a new market under the Partners United Financial brand,” said Raffie Kalajian, Area Sales Manager for Partners United Financial, who will head the new branch.

Unlike a traditional standalone joint venture in which one real estate company partners with one mortgage lender, the Partners United consortium-style JV is a partnership between established national lender New Penn and multiple real estate companies or residential builders. The model allows real estate brokerages and builders to offer their clients a complete array of mortgage services through a platform that accommodates participants’ concerns about ease of entry into the mortgage arena.

“Partners United gives real estate agents and builders an efficient and accessible means of offering mortgages and making their clients’ lives more convenient,” said Michael Mulgrew, President of Partners United Financial.

Partners United Financial is a HUD-approved entity. The Partners United consortium-style model makes it easy for real estate agents and builders to enter the JV space by lowering the cost of entry and providing the mortgage-lending expertise necessary for new JV partners to get off the ground quickly.

“As we looked for ways to offer seamless mortgage lending services to our buyers, the Partners United model provided our firm not only the economic benefits of a mortgage banking model, but also the ability to get into the JV space much faster and with far fewer hurdles than a stand-alone JV,” said Crystal Narramore, President of Podley Properties.

“Dilbeck Real Estate is excited to be one of the founding members of Partners United Financial and to play a part in the company’s continued growth,” said Mark Dilbeck, President of Dilbeck Real Estate. “We started with two partners and a goal of growing Partners United nationally. We’ve begun to see that goal come to fruition over the past 11 months, adding 6 new partners across five states.”

Based just outside Philadelphia in Plymouth Meeting, PA, New Penn Financial operates multiple entities across the United States, including Shelter Mortgage Company, which serves as its joint venture arm. Shelter Mortgage has been in the JV space since 1984 and has been an industry leader in the successful implementation of mortgage joint ventures, first with the traditional JV model and now with the consortium-style JV.

“Partners United has created a fantastic opportunity for a prospective Partners to join an already successful Joint Venture,” said Corey Caster, CEO of Shelter Mortgage. “The JV is HUD approved, has experienced Loan Officers and Management, and Partners with a proven track record for driving results.”

For more information or to learn more about opportunities to partner, please contact Michael Mulgrew, President of Partners United Financial at mmulgrew(at)partnersunitedfinancial(dot)com.

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 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 dilbeck.com

About Podley Properties
Podley Properties takes pride in being an independently owned, non-affiliated real estate firm in the San Gabriel Valley and Foothills of Northeast Los Angeles County. With over 200 sales associates and 20 staff members in six offices, the Podley Properties family maintains its long-standing commitment to the foundational core values it is known for – integrity, people, innovation, and excellence. The sales associates, staff, and management team of Podley Properties understand the importance of the role they play in the lives of those they represent. The firm is dedicated to the career of every agent and providing the support necessary to empower their agents to be the valley’s best. The company was founded over 40 years ago by current chairman, Bill Podley, a REALTOR® in our marketplace.

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Beth Brindle