eXp ends mortgage JV with Kind Lending, eyes Newrez deal

eXp World Holdings and Kind Lending are shutting down their mortgage joint venture, Success Lending, and Newrez will potentially become a new partner for the brokerage group, the companies confirmed to HousingWire. “Success Lending’s owners have made a mutual, strategic decision to wind down the joint venture,” an eXp spokesperson said in a statement. “We’re grateful for our partnership with Kind Lending and excited about the next chapter for eXp’s mortgage strategy. As part of that next chapter, eXp is exploring the potential formation of a new joint mortgage venture with Newrez.” The spokesperson added that the joint venture will bring together “Newrez’s origination platform with eXp’s agent network to serve more homebuyers.” “We can confirm that Newrez and eXp are exploring the potential formation of a joint mortgage venture,” a Newrez spokesperson told HousingWire. “We are excited about the opportunity to bring together the strength of Newrez’s origination platform and eXp’s vast U.S. agent network and look forward to sharing additional information when we can.” Joint ventures between real estate brokerages and mortgage lenders have proliferated in recent years as firms seek st...