· Newrez & HomeVision will create an end-to-end, next-generation underwriting platform that covers all underwriting components, including collateral, income, assets, and credit.
· AI-powered solution will lower origination costs, enhance accuracy, and deliver a faster, more seamless underwriting experience for homebuyers.
Newrez LLC (“Newrez”), a top five mortgage lender and servicer, announced today a strategic investment in HomeVision to develop an industry-first, AI-powered mortgage underwriting solution to accelerate the underwriting and loan review process across loan types. HomeVision is a leading B2B SaaS platform focused on utilizing advanced machine intelligence to expedite the mortgage underwriting process.
Newrez already leverages HomeVision’s industry-leading MIRA collateral underwriting AI technology, which has doubled operational efficiency in Newrez’s collateral underwriting. By expanding this capability across the remaining three key underwriting components: income, assets, and credit, the companies will create an end-to-end, next-generation underwriting platform that will lower origination costs, enhance accuracy, and deliver a faster, more seamless underwriting experience for customers.
“Today’s announcement underscores Newrez’s commitment to redefining the mortgage experience through strategic partnerships that advance innovation and set a new industry standard,” said Baron Silverstein, President of Newrez. “By combining Newrez’s deep mortgage origination expertise with HomeVision’s cutting-edge machine intelligence, we’re accelerating the path to real-time mortgage decisions—delivering greater speed, accuracy, and simplicity for homebuyers, while expanding capacity, reducing costs, and unlocking new growth opportunities for our business.”
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HomeVision’s flagship product, MIRA, leverages advanced machine intelligence to read loan documents and make decisions. While initially focused on the collateral underwriting and quality control process, the partnership with Newrez will extend its application across all mortgage loan documents, creating a comprehensive, AI-powered underwriting platform.
“We are thrilled to deepen our relationship with Newrez as a partner to advance our mission to build the industry’s leading AI-enabled underwriting platform,” said Jeff Foster, CEO and Co-Founder at HomeVision. “Their investment accelerates our ability to expand beyond collateral review and deliver more intelligent, scalable underwriting solutions across the mortgage origination process.”
Newrez expects to begin rolling out the new technology as early as this year. Financial terms of the deal are not being disclosed.
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