New Penn Financial Adds Four New Brokerages to its Partners United Financial Mortgage Joint Venture

We are pleased to add these four new partners to our ownership team as we continue to develop our nationwide footprint.

New Penn Financial, a nationally recognized mortgage lender, today announced the addition of four new brokerage partners to its Partners United Financial mortgage joint venture. Partners United Financial is a consortium-style joint venture (JV) that operates under the company’s Shelter Mortgage division. The JV was launched in May 2017 with founding brokerage partners HER Realtors (Columbus, OH) and Dilbeck Real Estate (Pasadena, CA). The four newest partners are Podley Properties (Pasadena, CA), C3 Real Estate (Fort Collins, CO), Lisa Burridge & Associates (Casper, WY), and Weichert ABG Properties (Louisville, KY).

“We are pleased to add these four new partners to our ownership team as we continue to develop our nationwide footprint,” said Michael Mulgrew, president of Partners United Financial.    

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 one established lender and multiple real estate companies. 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.

“As we explored the various mortgage opportunities available to our firm, it became apparent that the Partners United model offers us not only the full economics of a mortgage banking model (versus a mortgage brokerage), but also the opportunity to get into the JV space much quicker and with fewer hurdles than a stand-alone JV,” said…

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