loanDepot Inc. (NYSE: LDI) is teaming with the homebuilder Onx Homes on a new joint venture to provide financing for new homebuyers in Florida and Texas.
The venture, named Onx X+ Mortgage, will be headquartered in Georgetown, Texas. In a statement, the companies said their partnership “will benefit from Onx Homes’ proprietary design, technology and a customer-centric approach while capitalizing on loanDepot’s lending industry expertise and best-in-class platform.”
The companies did not announce the leadership for Onx X+ Mortgage.
Dan Peña, executive vice president of national joint ventures for loanDepot, stated the companies “share a mission to support customers throughout their entire homeownership journey, and this new joint venture allows us to deliver sustainable solutions that make homeownership more accessible. We’re so impressed by the approach and speed with which Onx creates not just new homes, but entire communities—it’s an innovative solution for today’s housing shortage, especially for serving the critical first-time homebuyer segment that loanDepot is dedicated to supporting.”
Ravi Bhat, chief operating officer of Onx Homes, added, “This new venture allows Onx Homes to focus on our mission of providing a seamless customer experience for new homebuyers. Through this partnership, we aim to offer homebuyers value and convenience with speed and efficiency, redefining the future of homebuilding. By leveraging loanDepot’s expertise in mortgage lending, we are creating an exceptional home loan process for our customers.”
