Newport Beach-based Landsea Homes (NYSE: LSEA) has launched a new mortgage business line through NFM Lending.
Maryland-based NFM Lending, which is licensed in 48 states, will finance all Landsea home loans under the Landsea Mortgage brand. This is a partnership expansion between NFM and Landsea; previously, NFM was Landsea’s “preferred lending partner,” according to company officials.
“Landsea Homes is a premier homebuilder, and we’re excited to continue our partnership with them to provide unrivaled and top-level service for homebuyers across the country,” said Ryan Sandell, Western division president at NFM Lending.
Landsea shares were trading at $6.95 at market close, for a market value of $292.5 million.