We collect cookies to analyze our website traffic and performance; we never collect any personal data.Cookies Policy
Accept
Michigan Post
Search
  • Home
  • Trending
  • Michigan
  • World
  • Politics
  • Top Story
  • Business
    • Business
    • Economics
    • Real Estate
    • Startups
    • Autos
    • Crypto & Web 3
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Beauty
    • Art & Books
  • Health
  • Sports
  • Entertainment
  • Education
Reading: LoanDepot provides to its secure of homebuilder joint ventures
Share
Font ResizerAa
Michigan PostMichigan Post
Search
  • Home
  • Trending
  • Michigan
  • World
  • Politics
  • Top Story
  • Business
    • Business
    • Economics
    • Real Estate
    • Startups
    • Autos
    • Crypto & Web 3
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Beauty
    • Art & Books
  • Health
  • Sports
  • Entertainment
  • Education
© 2024 | The Michigan Post | All Rights Reserved.
Michigan Post > Blog > Real Estate > LoanDepot provides to its secure of homebuilder joint ventures
Real Estate

LoanDepot provides to its secure of homebuilder joint ventures

By Editorial Board Published November 6, 2024 4 Min Read
Share
LoanDepot provides to its secure of homebuilder joint ventures

Accomplice in Ridgeland Mortgage, Smith Douglas Houses, went public in January and targets price-conscious entry-level and empty-nest homebuyers within the South and Southeast.

Whether or not it’s refining your small business mannequin, mastering new applied sciences, or discovering methods to capitalize on the following market surge, Inman Join New York will put together you to take daring steps ahead. The Subsequent Chapter is about to start. Be a part of it. Be a part of us and 1000’s of actual property leaders Jan. 22-24, 2025.

With scarce inventories persevering with to crimp gross sales of present properties in lots of markets, loanDepot is relying on a confirmed technique to spice up its buy mortgage enterprise: Forming joint ventures with homebuilders.

LoanDepot’s newest three way partnership companion is Woodstock, Georgia-based Smith Douglas Houses, which targets price-conscious entry-level and empty-nest homebuyers within the Southeast and Southern U.S.

Dan Peña

“Smith Douglas Homes’ approach to the new construction market is perfectly aligned with loanDepot’s commitment to serving the needs of first-time homebuyers,” loanDepot govt Dan Peña mentioned, in an announcement Monday.

As soon as it’s up and working, the plan is for the brand new three way partnership, Ridgeland Mortgage, to function in Atlanta; Houston; Birmingham and Huntsville, Alabama; Charlotte and Raleigh, North Carolina; and Chattanooga and Nashville, Tennessee.

Greg Bennett

Greg Bennett

“Our partnership with loanDepot allows us to focus on what we do best — delivering incredible value to our customers with high quality homes at an affordable price point — while leveraging loanDepot’s mortgage lending expertise to provide a smooth and seamless home loan process,” Smith Douglas Houses CEO Greg Bennett mentioned in an announcement.

Smith Douglas Houses, which raised $173 million in a January preliminary public providing, constructed and offered 2,297 properties final yr, and owned or had choices to construct on almost 13,000 extra tons, the corporate mentioned in its most up-to-date annual report back to buyers.

The builder presently works with a secure of most popular lenders within the markets the place it’s lively. In Atlanta, for instance, Smith Douglas Houses works with BankSouth Mortgage, NorthStar Mortgage Advisors and Motion Mortgage.

LoanDepot’s different joint ventures embrace NHC Mortgage (with Nationwide HomeCorp), LGI Mortgage Options (with LGI Houses), Henlopen Mortgage (with Schell Brothers), BRP Mortgage (with Brookfield Residential), MTH Mortgage (Meritage Houses), MSC Mortgage (with Michael Saunders & Firm), TRI Pointe Join (with Tri Pointe Houses) and Day 1 Mortgage (with Century 21 Redwood Realty).

In its most up-to-date annual report back to buyers, loanDepot reported $21 million in web earnings from its joint ventures in 2023, up 22 % from 2022 and almost double the $11.9 million in income its joint ventures generated in 2021.

New properties taking extra market share
FNMA home sales 10.24

Supply: Fannie Mae housing forecast, October 2024.

With elevated mortgage charges making many owners reluctant to place their properties up on the market, Fannie Mae economists anticipate new house gross sales will develop 7 % this yr to 713,000. New properties are projected to make up 15 % of 2024 house gross sales, up from 11 % in 2022.

LoanDepot’s joint ventures with homebuilders “typically experience their highest level of activity during November and December as home builders focus on completing and selling homes prior to year-end,” the corporate mentioned in its annual report.

E-mail Matt Carter

TAGGED:addshomebuilderJointLoanDepotstableventures
Share This Article
Facebook Twitter Email Copy Link Print

HOT NEWS

Minister ‘weaponising’ Savile will make Labour MPs queasy – however there is a larger threat

Minister ‘weaponising’ Savile will make Labour MPs queasy – however there is a larger threat

Politics
July 29, 2025
Michigan State Police hosts security day

Michigan State Police hosts security day

LANSING, Mich. (WLNS)-- At this time, Michigan State Police (MSP) invitations neighborhood members to a…

July 29, 2025
Cash Drawback: ‘My brother-in-law has to go – however I do not wish to be his guarantor’

Cash Drawback: ‘My brother-in-law has to go – however I do not wish to be his guarantor’

Is there an alternative choice to guarantors for somebody eager to lease? I do not…

July 29, 2025
Flattering Medium-Size Hairstyles for Ladies Over 50

Flattering Medium-Size Hairstyles for Ladies Over 50

Hair is about self esteem, and your signature minimize ought to make you're feeling like…

July 29, 2025
What does recognising a Palestinian state imply?

What does recognising a Palestinian state imply?

The UK is making a serious coverage shift to recognise Palestine as a state.Sir Keir…

July 29, 2025

YOU MAY ALSO LIKE

Collaboration and cooperation are the way forward for actual property

In at the moment’s more difficult market, brokers are banding collectively to remain aggressive and sane. Mike Bruce of Denver…

Real Estate
July 25, 2025

The GENIUS Act & Steady Cash – A Repeat Of 1863? Debt Disaster? | Economics

  The period of stablecoin issuance in the USA and U.S. Senator Invoice Hagerty’s GENIUS Act (Guiding and Establishing Nationwide…

Economics
July 21, 2025

Michigan State Police provides 4 new Ok-9 groups

LANSING, Mich. (WLNS) — The Michigan State Police (MSP) has introduced the addition of 4 new Ok-9 groups, in addition…

Michigan
July 21, 2025

Realtor.com acquires collaborative residence search app Zenlist

Zenlist is a mobile-first app that permits brokers and homebuyers to go looking properties collectively. Zenlist has greater than 35,000…

Real Estate
July 14, 2025

Welcome to Michigan Post, an esteemed publication of the Enspirers News Group. As a beacon of excellence in journalism, Michigan Post is committed to delivering unfiltered and comprehensive news coverage on World News, Politics, Business, Tech, and beyond.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 | The Michigan Post | All Rights Reserved

Welcome Back!

Sign in to your account

Lost your password?