Synergy One Acquires Newrez Retail Mortgage Operations

Synergy One Lending, a division of American Pacific Mortgage (APM), announced Wednesday that it will assume control of Newrez's distributed retail mortgage business through a new strategic agreement. This transition extends an existing partnership and significantly reshapes the retail strategies of both lending companies.

The agreement will move Newrez's distributed retail operations and personnel to Synergy One, which is currently developing a dedicated retail platform following its merger with APM in June. The financial terms of the deal were not disclosed by the companies. Synergy One, based in San Diego, stated that this acquisition will enhance its national retail presence by adding branches and originators, a move that contrasts with many lenders who are currently reducing their physical networks due to sustained margin compression and interest rate fluctuations.

Synergy One reported that it is licensed in 49 states, employs 540 individuals, and operates 65 branches across the country. Data from the mortgage technology platform RETR indicated that as of July 6, APM, with the addition of Synergy One, now comprises 1,135 producing loan officers. Since the beginning of 2026, APM has originated approximately $5.1 billion in mortgages, positioning it as the 29th largest U.S. lender.

Newrez, a subsidiary of Rithm Capital and a prominent U.S. mortgage lender and servicer, characterized the move as a strategic reallocation of capital and resources. The company intends to focus on its joint venture partnerships and its localized Newrez Direct strategy, segments it believes offer the most significant long-term growth potential. Newrez will continue its origination activities through its wholesale, correspondent, consumer direct, and joint venture channels. Aaron Nemec, division president of Synergy One Lending, expressed enthusiasm for the agreement, highlighting the strength of Synergy One's platform for retail originators and welcoming the Newrez team.