General World News

LoanDepot launches JV with another homebuilder

LoanDepot, the nation’s second-largest nonbank retail mortgage lender, struck up a joint-venture with Schell Brothers, a homebuilder based in Delaware.

The venture is to be called Henlopen Mortgage, the firms said in a statement this week.

Through the JV, Schell Brothers, which builds energy-efficient homes along the beaches of Delaware and in Virginia, will have access to loanDepot’s “mello” lending platform.

“Henlopen Mortgage helps homebuyers achieve their dream of homeownership in a seamless and pleasing way,” said Mark Jones, who will lead Henlopen Mortgage as vice president of regional production. “Whether it’s their first home purchase or their details ⇒

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