Newrez
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.As of 2025, Newrez is the fourth-largest originator in the United States.
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. As part of the acquisition, newly-created Newrez also gained a third-party servicing business through its acquisition of Shellpoint. The combined platform expanded through Rithm's 2019 acquisition of the assets of Ditech, a correspondent lender.Baron Silverstein joined Newrez as President in 2020. Under Silverstein's leadership, Newrez saw a 176% production growth in 2020.
In 2021, Newrez expanded its operations through the acquisition of Caliber Home Loans, which added a retail lending platform to its portfolio.
In 2023, Newrez began a partnership with Microsoft to incorporate artificial intelligence tools from OpenAI into its data and customer service operations.
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 portfolio of about $136 billion in unpaid principal balance to the company.
In 2025, HousingWire reported that Newrez expanded its presence in non-QM, home equity, and prime jumbo lending segments.
In 2025, Newrez announced a partnership with Wells Fargo.
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. 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.
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.