Is NewRez the same as Shellpoint?
NewRez and Shellpoint are both financial services companies that offer mortgage lending and servicing solutions. However, they are not the same company.
NewRez, formerly known as New Penn Financial, is a nationwide mortgage lender and servicer headquartered in Plymouth Meeting, Pennsylvania. The company was founded in 2008 and has grown to become a leading provider of mortgage financing solutions for both residential and commercial properties. NewRez offers a variety of mortgage products, including conventional, FHA, VA, and jumbo loans, as well as refinancing options for homeowners.
Shellpoint Mortgage Servicing is a mortgage servicer based in Greenville, South Carolina. The company was founded in 2008 and is a leading provider of mortgage servicing solutions for banks, credit unions, and other financial institutions. Shellpoint specializes in servicing distressed mortgages, including those that are in default or have been foreclosed upon. In addition to servicing mortgages, Shellpoint also offers loan modification and loss mitigation services to help borrowers avoid foreclosure and stay in their homes.
While both NewRez and Shellpoint are involved in the mortgage industry, they offer different types of services and have different business models. NewRez is primarily focused on originating and servicing mortgages, while Shellpoint specializes in servicing distressed mortgages and helping borrowers avoid foreclosure. Additionally, while NewRez is a nationwide company, Shellpoint is primarily focused on the Southeast United States.
Overall, while there are some similarities between NewRez and Shellpoint, they are not the same company. NewRez is a mortgage lender and servicer that offers a wide range of mortgage products and services to homeowners, while Shellpoint is a mortgage servicer that specializes in servicing distressed mortgages and helping borrowers avoid foreclosure.
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