eXp Realty and Newrez form Revenos Mortgage joint venture

eXp Realty, a subsidiary of AGNT, Inc. (Nasdaq: AGNT), and Newrez LLC, a subsidiary of Rithm Capital Corp. (NYSE: RITM), announced a mortgage joint venture called Revenos Mortgage, powered by Newrez. The announcement was made at eXpcon in Salt Lake City.

The joint venture is intended to combine eXp Realty's national agent network with Newrez's mortgage origination and servicing platform. According to the companies, Revenos Mortgage will offer eXp Realty agents and their clients access to financing products and loan servicing capabilities.

"What matters most in a real estate transaction is the agent-client relationship, and Revenos Mortgage is being built around that," said Leo Pareja, CEO of eXp Realty.

Baron Silverstein, President of Newrez, said the venture reflects the company's local market strategy. "By combining eXp's trusted local market expertise and Newrez's scaled mortgage platform, including a broad range of lending solutions, technology, and servicing capabilities, we can better support buyers throughout the homeownership journey," he said.

The two companies stated they are working to integrate their platforms ahead of a planned launch in early 2027. No financial terms of the joint venture were disclosed. Additional details are expected to be shared in the coming months.

Newrez is described by industry publication Inside Mortgage Finance as one of the five largest nonbank mortgage lenders and primary mortgage servicers in the United States. The company is headquartered in Fort Washington, Pennsylvania, and was established in 2008.

AGNT, Inc. is the parent company of eXp Realty and is headquartered in Bellingham, Washington.

You May Also Be Interested In

• Apollo Commercial Real Estate Finance to delist from NYSE by Nov. 6
• Odyssey Marine sets Dec. 2 shareholder vote on AOMC merger
• Navan deploys Nvidia Nemotron 3.5 Super VL for AI travel agents