History of Newrez in Timeline

Newrez LLC, headquartered in Fort Washington, Pennsylvania, is a major American residential mortgage lender and servicer. Established in 2018 as a subsidiary of New Residential (now Rithm Capital) through the acquisition of Shellpoint Partners, it operates through correspondent, wholesale, and consumer direct channels. By 2025, Newrez had risen to become the fourth-largest mortgage originator in the United States.

2018: Newrez Formed

In 2018, Newrez was formed 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.

2018: Acquisition of Shellpoint Partners

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.

2019: Acquisition of Ditech Assets

In 2019, the combined platform of Newrez expanded through Rithm's acquisition of the assets of Ditech, a correspondent lender.

2020: Baron Silverstein Joins Newrez

In 2020, Baron Silverstein joined Newrez as President, and the company experienced a 176% production growth that same year under his leadership.

2021: Acquisition of Caliber Home Loans

In 2021, Newrez expanded its operations through the acquisition of Caliber Home Loans, which added a retail lending platform to its portfolio.

2023: Partnership with Microsoft and OpenAI

In 2023, Newrez began a partnership with Microsoft to incorporate artificial intelligence tools from OpenAI into its data and customer service operations.

2023: Partnership with One Tree Planted

In 2023, Newrez partnered with One Tree Planted, pledging to plant trees in conjunction with Earth Day campaigns. By 2024, the collaboration supported the planting of more than 40,000 trees worldwide.

February 2024: Partnership with Newzip

In February 2024, Newrez partnered with Newzip to create Newrez Home Rewards, a program aimed at saving credit costs for buyers and sellers.

2024: 40,000 Trees Planted

By 2024, the collaboration between Newrez and One Tree Planted supported the planting of more than 40,000 trees worldwide.

2024: Pledge to Soulshine Benefit Concert

In 2024, Newrez pledged $500,000 to support the efforts of the benefit concert, Soulshine, headlined by Dave Matthews Band, to aid in relief and recovery efforts during Hurricanes Helene and Milton.

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2024: Acquisition of Computershare Mortgage Services Inc.

In 2024, Rithm completed the acquisition of Computershare Mortgage Services Inc., including Specialized Loan Servicing LLC. The operations were merged with Newrez, adding a significant mortgage servicing rights portfolio.

March 2025: Designated Special Servicer

In March 2025, Fitch Ratings reported that Newrez was a designated special servicer for both Fannie Mae and Freddie Mac, ranking it among the leading non-agency servicers in the U.S. residential mortgage market.

July 2025: Fourth-Largest Mortgage Originator

In July 2025, Newrez was reported as the fourth-largest mortgage originator by funded volume. Also in 2025, Newrez expanded its presence in non-QM, home equity, and prime jumbo lending segments and announced a partnership with Wells Fargo.

October 2025: Servicing Portfolio

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.

2025: Fourth-Largest Originator

As of 2025, Newrez is the fourth-largest originator in the United States.

2025: Executive Appointments

In 2025, Newrez appointed Brian Woodring as Chief Information Officer and promoted Felicia Grumet to Chief Financial Officer. Later that year, Leslie Gillin was hired as Chief Commercial Officer.

2025: Silverstein Receives HousingWire’s Vanguard Award

In 2025, Silverstein was awarded HousingWire’s Vanguard award for his work with Newrez, which has grown to become a leading lender and servicer through acquisitions and platform integrations under his leadership.

January 2026: Strategic Investment in HomeVision

In January 2026, Newrez announced a strategic investment in HomeVision to develop an AI-powered mortgage underwriting solution.

January 2026: Cryptocurrency as Recognized Asset

In January 2026, Newrez introduced the use of cryptocurrency holdings as a recognized asset in mortgage underwriting to modernize lending practices and expand borrower qualification criteria.

February 2026: Partnership with Valon Technologies

In February 2026, Newrez's parent company, Rithm Capital, expanded its partnership with Valon Technologies, announcing a minority equity investment in Valon and plans to implement Valon's AI-native mortgage servicing platform.