Key facts
- eXp Realty and Newrez LLC have formed a joint venture called Revenos Mortgage.
- Revenos Mortgage is expected to launch in early 2027.
- The venture combines eXp's agent network with Newrez's origination and servicing platform.
- Newrez expects to originate about $65 billion in mortgages this year.
- Newrez ranked as the sixth-largest U.S. mortgage lender with $31.3 billion in production in the first half of the year.
- eXp Realty had over 340,000 transaction sides worth over $150 billion in sales volume in 2025.
eXp Realty and Newrez LLC have established a new mortgage joint venture named Revenos Mortgage, which is slated for a launch in early 2027. This strategic move aims to combine eXp's extensive national brokerage network and agent base with Newrez's established mortgage origination and servicing platform.
The formation of Revenos Mortgage follows eXp Realty's recent decision to discontinue its prior mortgage joint venture, Success Lending, with Kind Lending. According to Leo Pareja, CEO of eXp Realty, the partnership with Newrez was sought due to Newrez's significant scale and legitimacy within the mortgage industry.
Baron Silverstein, president of Newrez, highlighted the critical role of local connections in driving purchase volume and stated that this partnership with eXp, a large independent agent network, is a key step in scaling their business. He emphasized that the venture aligns with Newrez's strategy to deepen ties with local players and focus on areas with strong long-term growth potential.
Newrez, a multichannel lender anticipating approximately $65 billion in mortgage originations this year, is the sixth-largest U.S. mortgage lender by production volume in the first half of the year. The company already operates a network of about 16 joint ventures and views partnerships as a core strength.
For eXp Realty, the joint venture offers access to Newrez's mortgage servicing operations, a significant aspect for providing ongoing support to clients post-closing. Pareja expressed particular excitement about the sophistication and scale of Newrez as a partner, contrasting it with previous ventures that were more focused on a 'build it and they will come' approach.