Newrez
| Company type | Subsidiary |
|---|---|
| Industry | Residential mortgage lending and servicing |
| Predecessor | Shellpoint Partners |
| Founded | 2018 |
| Headquarters | Fort Washington , United States |
Area served | United States (49 states) |
Key people | Baron Silverstein (President, 2020), Brian Woodring (CIO, 2025), Felicia Grumet (CFO, 2025), Leslie Gillin (CCO, 2025) |
| Products | Mortgage lending and servicing |
| Owner | Rithm Capital (formerly New Residential) |
| Parent | Rithm Capital |
Newrez LLC is a residential mortgage lender and servicer in the United States, delivering services through correspondent, wholesale, and direct consumer channels. Based in Fort Washington, Pennsylvania, Newrez was founded in 2018 as a fully owned subsidiary of New Residential (currently known as Rithm Capital) following the acquisition of Shellpoint Partners, which owned Shellpoint Mortgage Servicing and New Penn Financial. By 2025, Newrez had become the fourth-largest mortgage originator nationwide.
History
In 2018, Rithm Capital acquired Shellpoint Partners, merging New Penn Financial and Shellpoint Mortgage Servicing into the Newrez brand. This move established a lending network spanning 49 states via wholesale, correspondent, direct-to-consumer, retail, and joint venture channels. The transaction also introduced a third-party servicing operation. The platform's growth continued in 2019 when Rithm bought Ditech’s correspondent lending assets.
Baron Silverstein was appointed President in 2020, under whose guidance Newrez experienced a 176% increase in production that year.
The company strengthened its retail lending segment in 2021 by acquiring Caliber Home Loans for $1.675 billion.
By 2023, Newrez collaborated with Microsoft to incorporate OpenAI’s artificial intelligence technologies into its data processing and customer service functions.
In 2024, Rithm expanded its portfolio by purchasing Computershare Mortgage Services Inc., including Specialized Loan Servicing LLC, for roughly $720 million. This acquisition increased Newrez’s mortgage servicing rights (MSR) holdings by approximately $136 billion in unpaid principal balance (UPB).
Throughout 2025, Newrez extended its presence within non-QM, home equity, and prime jumbo loan markets and revealed a strategic alliance with Wells Fargo.
That same year saw leadership updates with Brian Woodring joining as Chief Information Officer after six years at Rocket Companies, Felicia Grumet promoted to Chief Financial Officer, and Leslie Gillin recruited as Chief Commercial Officer from AI-focused fintech firm Pagaya.
As of October 2025, Newrez oversaw a servicing portfolio valued at about $878 billion UPB, including $282 billion managed on behalf of third parties.