loanDepot and Smith Douglas Homes Announce New Joint Venture called Ridgeland Mortgage
loanDepot (NYSE: LDI) and Smith Douglas Homes (NYSE: SDHC) have announced a new joint venture called Ridgeland Mortgage. The partnership aims to provide streamlined financing options for new home buyers, combining Smith Douglas Homes' expertise in building quality affordable homes with loanDepot's lending platform.
The venture will operate in multiple markets across the Southeast and Southern regions, including Atlanta, Houston, Birmingham, Charlotte, Chattanooga, and Nashville. The collaboration focuses on serving first-time homebuyers while expanding loanDepot's presence in the purchase mortgage market and supporting Smith Douglas Homes' growth strategy.
loanDepot (NYSE: LDI) e Smith Douglas Homes (NYSE: SDHC) hanno annunciato una nuova joint venture chiamata Ridgeland Mortgage. L'obiettivo della partnership è fornire opzioni di finanziamento semplificate per i nuovi acquirenti di case, combinando l'esperienza di Smith Douglas Homes nella costruzione di case di qualità e a prezzi accessibili con la piattaforma di prestiti di loanDepot.
La joint venture opererà in diversi mercati del Sud-est e del Sud degli Stati Uniti, tra cui Atlanta, Houston, Birmingham, Charlotte, Chattanooga e Nashville. La collaborazione si concentra nel servire i compratori di case per la prima volta, espandendo la presenza di loanDepot nel mercato dei mutui per acquisto e supportando la strategia di crescita di Smith Douglas Homes.
loanDepot (NYSE: LDI) y Smith Douglas Homes (NYSE: SDHC) han anunciado una nueva joint venture llamada Ridgeland Mortgage. La asociación tiene como objetivo proporcionar opciones de financiamiento simplificadas para los nuevos compradores de viviendas, combinando la experiencia de Smith Douglas Homes en la construcción de casas asequibles y de calidad con la plataforma de préstamos de loanDepot.
La empresa conjunta operará en múltiples mercados en las regiones del sureste y del sur, incluyendo Atlanta, Houston, Birmingham, Charlotte, Chattanooga y Nashville. La colaboración se centra en atender a los compradores de vivienda por primera vez, mientras amplía la presencia de loanDepot en el mercado de hipotecas de compra y apoya la estrategia de crecimiento de Smith Douglas Homes.
loanDepot (NYSE: LDI)와 Smith Douglas Homes (NYSE: SDHC)가 Ridgeland Mortgage라는 새로운 합작 회사를 발표했습니다. 이 파트너십은 Smith Douglas Homes의 품질 높은 저렴한 주택 건설 전문성과 loanDepot의 대출 플랫폼을 결합하여 신규 주택 구매자를 위한 간소화된 금융 옵션을 제공하는 것을 목표로 합니다.
이 합작 기업은 애틀랜타, 휴스턴, 버밍햄, 샬롯, 채터누가, 내슈빌 등 남동부와 남부 지역의 여러 시장에서 운영될 것입니다. 협업은 첫 주택 구매자를 제공하는 데 중점을 두며, loanDepot이 구매용 모기지 시장에서의 존재감을 확대하고 Smith Douglas Homes의 성장 전략을 지원합니다.
loanDepot (NYSE: LDI) et Smith Douglas Homes (NYSE: SDHC) ont annoncé un nouveau partenariat appelé Ridgeland Mortgage. La collaboration vise à offrir des options de financement simplifiées pour les nouveaux acheteurs de maison, en combinant l'expertise de Smith Douglas Homes dans la construction de maisons de qualité à prix abordable avec la plateforme de prêts de loanDepot.
Le projet commun opérera sur plusieurs marchés dans les régions du Sud-Est et du Sud, y compris Atlanta, Houston, Birmingham, Charlotte, Chattanooga et Nashville. La collaboration se concentre sur le service des primo-accédants tout en élargissant la présence de loanDepot sur le marché des hypothèques d'achat et en soutenant la stratégie de croissance de Smith Douglas Homes.
loanDepot (NYSE: LDI) und Smith Douglas Homes (NYSE: SDHC) haben ein neues Joint Venture namens Ridgeland Mortgage angekündigt. Die Partnerschaft zielt darauf ab, vereinfachte Finanzierungsoptionen für Neukäufer von Wohnimmobilien anzubieten und kombiniert die Expertise von Smith Douglas Homes im Bau von hochwertigen, erschwinglichen Häusern mit der Kreditplattform von loanDepot.
Das Joint Venture wird in mehreren Märkten im Südosten und Süden der USA, einschließlich Atlanta, Houston, Birmingham, Charlotte, Chattanooga und Nashville, tätig sein. Die Zusammenarbeit konzentriert sich darauf, Erstkäufer von Wohnungen zu bedienen, während sie die Präsenz von loanDepot im Kaufhypothekenmarkt erweitert und die Wachstumsstrategie von Smith Douglas Homes unterstützt.
- Strategic expansion into purchase mortgage market through joint venture
- Access to Smith Douglas Homes' customer base as 36th largest US homebuilder
- Geographic expansion across multiple growing Southeast and Southern markets
- None.
Insights
This joint venture between loanDepot and Smith Douglas Homes represents a strategic expansion in the purchase mortgage market. The partnership creates significant revenue potential by tapping into Smith Douglas Homes' presence across multiple high-growth Southeastern markets. As the nation's 36th largest homebuilder, Smith Douglas brings a substantial customer base for mortgage origination.
The venture positions loanDepot to capture a larger share of the new construction lending market, particularly in the first-time homebuyer segment. With rising interest rates and housing affordability concerns, this focus on affordable new construction could provide a competitive advantage. The partnership should generate steady mortgage origination volume through market cycles, helping offset the cyclical nature of the refinance business.
The strategic timing of this joint venture aligns with current market dynamics. The Southeast region is experiencing strong population growth and housing demand, driven by migration trends and relative affordability compared to coastal markets. The targeted markets - including Atlanta, Houston, Charlotte and Nashville - are among the fastest-growing metropolitan areas in the US.
Smith Douglas Homes' focus on affordable price points addresses a critical market need, as entry-level housing inventory remains scarce. This partnership could help loanDepot capture market share in a challenging mortgage environment where purchase loans are increasingly important due to reduced refinancing activity.
New venture connects award-winning approach to new home construction with industry-leading lending platform to exceed customer expectations
Called Ridgeland Mortgage, the venture expands loanDepot’s footprint in the purchase mortgage market while supporting Smith Douglas Homes’ continued growth and success. It will benefit from Smith Douglas Homes’ focus on building high quality homes at attractive prices in growing markets while capitalizing on loanDepot's lending industry expertise and best-in-class platform. As Ridgeland Mortgage grows, the company plans to operate in the following markets:
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Atlanta and Central GA -
Houston, TX -
Birmingham andHuntsville, AL -
Charlotte andRaleigh, NC -
Chattanooga andNashville, TN
“Smith Douglas Homes’ approach to the new construction market is perfectly aligned with loanDepot’s commitment to serving the needs of first-time homebuyers," said Dan Peña, executive vice president of national joint ventures for loanDepot. “Our new joint venture helps both companies make the American dream of home ownership possible for more families while providing Smith Douglas Homes with access to an unparalleled lending platform that will deliver an exceptional customer experience.”
Greg Bennett, chief executive officer of Smith Douglas Homes, agreed. "Our partnership with loanDepot allows us to focus on what we do best—delivering incredible value to our customers with high quality homes at an affordable price point—while leveraging loanDepot’s mortgage lending expertise to provide a smooth and seamless home loan process. Our new joint venture will draw on the core strengths of both companies—including a shared commitment to operational excellence, quality, and innovation—so we can continue to meet the expectations of our customers.”
About loanDepot
At loanDepot (NYSE: LDI), we know home means everything. That’s why we are on a mission to support homeowners with a suite of products and services that fuel the American Dream. Our portfolio of digital-first home purchase, home refinance and home equity lending products make homeownership more accessible, achievable, and rewarding, especially for the increasingly diverse communities of first-time homebuyers we serve. Headquartered in
About Smith Douglas Homes
Headquartered in
LDI-IR
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i https://www.builderonline.com/builder-100/builder-100-list/2024/
View source version on businesswire.com: https://www.businesswire.com/news/home/20241104917700/en/
For Media:
Jonathan Fine
VP, Public Relations
(781) 248-3963
jfine@loandepot.com
Source: loanDepot, Inc.
FAQ
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