LoanDepot, Smith Douglas Homes announce new JV called Ridgeland Mortgage

loanDepot (LDI) (LDI ) and Smith Douglas Homes (SDHC) announced a new joint venture that will provide a smooth and streamlined financing option for new home buyers. 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.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 Pena, 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.”