[Emeryville, CA January 23, 2025] — Newfi Lending (“Newfi”), an industry-leading non-agency mortgage lender owned by Apollo funds, and Dunmor, a leading provider of bridge, fix and flip, and ground-up construction loans for real estate developers, announced today an expansion of Newfi and Dunmor’s partnership to include a minority equity investment.
Dunmor Founder and CEO, Franck Ruimy, expressed enthusiasm about the company’s new partnership in the business lending space stating, “Our team has created a remarkable platform and brand, and we are now set to embark on a new growth phase with Newfi as a key strategic partner together with Apollo’s backing. This equity investment positions us to continue delivering the high level of service our clients expect, complemented by an even stronger commitment to providing innovative funding solutions at highly competitive rates.”
Under the terms of the transaction, Newfi continues to provide an initial financing facility to expand Dunmor’s origination capacity. Additionally, Newfi is providing a strategic minority investment to empower Dunmor to capture the growing market opportunity within the Residential Transition Lending (“RTL”) sector.
Steve Abreu, Newfi Founder & CEO, said “Over the past 6 months Dunmor’s platform and performance continues to impress us, and we are looking forward to expanding our relationship with a minority equity investment.”
The transaction includes several milestones structured to further align and strengthen the relationship between Newfi and Dunmor over time, including opportunities to increase equity ownership.
Dunmor will continue to be a leader in high-quality residential mortgage originations, providing Apollo-managed vehicles attractive investment opportunities in high quality yield assets.
About Dunmor
Dunmor is a technology forward national lender specializing in residential real estate investment loans. Established in 2021, the company provides short-term bridge loans, fix and flip loans, and construction loans for residential and multifamily investment properties. Dunmor works directly with borrowers and brokers in offering competitive rates, efficient closings, and exceptional customer service. For more information, visit www.dunmor.com.
About Newfi Lending
Newfi is a multi-channel non-agency lender that is setting the standard for efficiency, transparency, and service in the mortgage marketplace. Founded by industry veterans, Newfi is committed to innovation in lending products for both consumers and mortgage brokers under the Newfi Lending brand. For more about Newfi product offerings visit www.newfi.com.