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Newrez LLC is an American residential mortgage lender and servicer offering residential mortgages through correspondent, wholesale, and consumer direct channels. Newrez is headquartered in Fort Washington, Pennsylvania, and was formed in 2018 as a wholly-owned subsidiary of New Residential, now Rithm Capital, through the acquisition of Shellpoint Partners, the owner of Shellpoint Mortgage Servicing and New Penn Financial.[1][2][3]As of 2025, Newrez is the fourth-largest originator in the United States.[4]
History
In 2018, Rithm acquired Shellpoint Partners, the owner of New Penn Financial and Shellpoint Mortgage Servicing, creating Newrez and establishing a lending presence in 49 states through multiple lending channels, including wholesale, correspondent lending, direct-to-consumer, retail, and a network of joint venture partners.[5] As part of the acquisition, newly-created Newrez also gained a third-party servicing business through its acquisition of Shellpoint.[3] The combined platform expanded through Rithm’s 2019 acquisition of the assets of Ditech, a correspondent lender.[6]
Baron Silverstein joined Newrez as President in 2020. Under Silverstein’s leadership, Newrez saw a 176% production growth in 2020.[7]
In 2021, Newrez expanded its operations through the acquisition of Caliber Home Loans, which added a retail lending platform to its portfolio.[8][9]
In 2023, Newrez began a partnership with Microsoft to incorporate artificial intelligence tools from OpenAI into its data and customer service operations.[10]
In 2024, Rithm completed the acquisition of Computershare Mortgage Services Inc. for approximately $720 million, which included the purchase of Specialized Loan Servicing LLC. Following the deal, Specialized Loan Servicing portfolio and operations were merged with Newrez, which added a mortgage servicing rights (MSR) portfolio of about $136 billion in unpaid principal balance (UPB) to the company.[11]
In 2025, HousingWire reported that Newrez expanded its presence in non-QM, home equity, and prime jumbo lending segments.[12]
In 2025, Newrez announced a partnership with Wells Fargo.[13]
Newrez announced in 2025 the appointment of Brian Woodring as Chief Information Officer after serving six years at Rocket Companies. The company also promoted Felicia Grumet to Chief Financial Officer after joining Newrez the year prior as chief information officer.[14] One month later, Newrez announced that it had hired Leslie Gillin as Chief Commercial Officer following her experience as Chief Growth Officer at Pagaya, an AI-driven financial technology company.[15]
As of October 2025, Newrez reported a servicing portfolio of approximately $878 billion in unpaid principal balance, including about $282 billion in third-party servicing.[13]
References
- ^ Pierson, Neil. “Rithm Capital issues mammoth $878M MSR-backed debt offering”. HousingWire. Retrieved 2025-11-17.
- ^ “Newrez Launches A 40-Year Mortgage For Non-QM”. nationalmortgageprofessional.com. 2022-09-06. Retrieved 2025-11-17.
- ^ a b Lane, Ben. “New Residential completes $190M acquisition of Lewis Ranieri’s Shellpoint Partners”. HousingWire. Retrieved 2025-11-17.
- ^ “Broker, Correspondent Channels Drive Non-QM Growth As Newrez Q2 Originations Surge”. nationalmortgageprofessional.com. 2025-07-28. Retrieved 2025-11-17.
- ^ Lane, Ben. “New Penn Financial is now officially NewRez”. HousingWire. Retrieved 2025-11-17.
- ^ Lane, Ben. “New Residential Investment buys Ditech Financial for $1.2 billion”. HousingWire. Retrieved 2025-11-17.
- ^ “2021 Vanguard: Baron Silverstein”. HousingWire. Retrieved 2025-11-17.
- ^ Aurellano, Arnie (2021-04-14). “New Residential acquires Caliber Home Loans for $1.675 billion”. Scotsman Guide. Retrieved 2025-11-17.
- ^ “New Residential To Acquire Caliber Home Loans”. nationalmortgageprofessional.com. 2021-04-14. Retrieved 2025-11-17.
- ^ “Newrez advances AI initiatives”. www.mpamag.com. Retrieved 2025-11-17.
- ^ Nunes, Flávia Furlan. “Rithm to acquire MSR player Computershare Mortgage Services for $720M”. HousingWire. Retrieved 2025-11-17.
- ^ Nunes, Flávia Furlan. “Rithm Capital delays Newrez public listing, eyes M&A opportunities”. HousingWire. Retrieved 2025-11-17.
- ^ a b Nunes, Flávia Furlan. “Newrez boosts Rithm Capital’s Q3 earnings”. HousingWire. Retrieved 2025-11-17.
- ^ “Former Rocket CTO Woodring Lands At Newrez”. nationalmortgageprofessional.com. 2025-06-10. Retrieved 2025-11-17.
- ^ “Banking, Financial Services Exec Leslie Gillin Joins Newrez As Chief Commercial Officer”. nationalmortgageprofessional.com. 2025-07-16. Retrieved 2025-11-17.
