Synergy One Lending, a division of American Pacific Mortgage (APM), will assume control of Newrez’s distributed retail mortgage business under a new strategic agreement announced Wednesday, extending an existing partnership and reshaping both lenders’ retail strategies.

The transition moves Newrez’s distributed retail operations and personnel to Synergy One, which is building out a purpose-built retail platform following its June merger with APM. Terms of the deal were not disclosed, according to the company announcement.

San Diego-based Synergy One said the deal will increase its national retail footprint, adding branches and originators details ⇒

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