Rithm Capital’s Newrez announces investment in HomeVision

Newrez announced 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. 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. Newrez expects to begin rolling out the new technology as early as this year. Financial terms of the deal are not being disclosed.