LOS ANGELES--(BUSINESS WIRE)--Dunmor, a leading provider of bridge, fix and flip, ground-up construction and DSCR rental loans for real estate developers across the United States, today announced it received a minority equity investment from Newfi Lending (“Newfi”), an industry-leading non-agency mortgage lender owned by funds managed by Apollo Global Management (“Apollo”). The investment is an expansion of the partnership announced in June 2024.
Dunmor founder and CEO, Franck Ruimy, expressed enthusiasm about the expanded 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 competitive funding solutions.”
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 and CEO, said, “Over the past six months Dunmor’s platform and performance continually impressed us, and we are now 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 Dunmor and Newfi over time, including opportunities to increase equity ownership.
The equity investment strengthens Dunmor’s RTL leadership
With this investment Dunmor will continue to expand as a leader in high-quality residential mortgage originations, providing Apollo-managed vehicles with attractive investment opportunities in high-quality yield assets. Dunmor uniquely offers RTL loans in four categories: bridge, fix and flip, ground up, and DSCR rental, in all 50 states; Dunmor offers the widest range of RTL loan products across the widest geographical range in the United States.
Dunmor also uniquely features separate AI-powered loan origination platforms for real estate investors and brokers. Dunmor recently launched its broker platform illustrating its commitment to being the financing partner solution for the brokerage community. Dunmor’s AI platforms enable rapid delivery of pre-qualifications, quotes, term sheets and loans.
Dunmor also has a group of loan origination and production analysts based across the United States, ready to work with borrowers. Dunmor is regulated and licensed to lend anywhere in the United States.
Dunmor’s depth of talent and experience, its breadth of product offerings throughout the United States, its AI-powered loan origination platforms and its financial resources bolstered by the Apollo-affiliated Newfi investment equip the company to continue expanding as a leader in RTL lending.
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, construction loans and DSCR rental loans for residential and multifamily investment properties throughout the United States. 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 information about Newfi product offerings visit www.newfi.com.
