Companies are looking for new ways to reinvent themselves or add new lines of business and that is exactly what LoanDepot plans to do. The company is looking to originate loans for AV Homes, a homebuilder that closed a whopping 2,465 homes in 2016, according to National Mortgage News.
Why does a move like this make sense? As many mortgage professionals know, the industry has faced one of the largest shortages in inventory and partnering directly with a homebuilder immediately relieves a lot of the pressure that that shortage may bring.
"We are excited that the next generation of AV Homes' customers will be among the first to use our innovative mello technology thanks to this joint venture partnership," said Dan Pena, senior vice president of national joint ventures for Irvine, Calif.-headquartered loanDepot, in a press release, according to the report.
"We're confident that they will be delighted with the seamless purchase experience that mello will provide."
Here's yet another example of the innovative ways companies are moving forward. To learn more about this upcoming venture, click on the image above.