Newrez announced a new incentive program offering homebuyers and sellers closing cost kickbacks and other white-glove services.
Created with the help of Newzip, a tech-enabled real estate platform, Newrez Home Rewards gives homebuyers access to an advisor, moving assistance, and closing cost credits up to 0.5%.
Those who are also selling a home can get up to 1% in credits.
Buyers benefit both from savings and Newrez’s “unique concierge experience,” the company said.
“In delivering a closing cost credit and a home concierge program through the Newzip partnership, we are furthering our commitment to our customers,” said Baron Silverstein, Newrez president.
“Our holistic approach brings value to our clients not just when they buy their home but through the lifecycle of their loan with our best-in-class servicing customer experience.”
Newzip, a startup founded by a former Keller Williams exec, allows lenders to partner with real estate agents and vendors, giving them access to personalized real estate services for their clients. Even small lenders offer services similar to Rocket, Better, and other big competitors.
It won LendingTree’s 2023 Innovation Challenge, a showcase for emerging technology that betters the homebuying experience for both borrowers and lenders.
Pennsylvania-based Newrez is a mortgage origination and servicing company. Newrez Ventures, formerly Shelter Mortgage Company, joined the Newrez Family of Companies in 2014, fostering relationships between builders, brokers, and relocation companies nationwide.
The company made headlines this year by letting go of regional and divisional managers via a restructuring of its distributed retail mortgage business. It’s also in the spotlight for a lawsuit accusing former execs of bad actions when they left for a competitor.
Last year, it focused on expansion through a partnership with Keller Williams– which resulted in two new lending companies, Onward Home Mortgage and Carnegie Mortgage Partners– and one with Meybohm Real Estate, Meybohm Mortgage.
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