Dunmor Announces Transaction with Newfi and Secures Substantial Funding Capacity

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Jun 03, 2024, 13:00 ET

LOS ANGELES, June 3, 2024 /PRNewswire/ -- BARH Dunmore, LLC ("Dunmor"), a technology-forward lender specializing in residential real estate investment loans, today announced a transaction with Newfi Lending ("Newfi"). This transaction will allow Newfi to invest in Dunmor's business purpose bridge lending operations with a number of milestones structured to align and strengthen the Newfi-Dunmor relationship over time. Separately, Dunmor has entered into an agreement with an offtake partner, securing hundreds of millions of funding capacity with room to upsize as the business grows.

Founded in 2021, Dunmor was established to meet the growing needs of real estate investors and developers seeking residential transitional loans ("RTL"). These include bridge loans, fix-and-flip loans, and ground-up construction financing. Dunmor has built a team of highly experienced and long-tenured mortgage professionals who understand the diverse needs and asset types within the RTL sector, enabling them to quickly provide tailored solutions to help real estate investors scale their businesses effectively.

This strategic arrangement with Newfi and the substantial funding capacity underscores Dunmor's commitment to supporting real estate investors in the residential space.

Franck Ruimy, founder and CEO of Dunmor, expressed enthusiasm about the venture, stating, "Our team has created a remarkable platform and brand, and we are now set to embark on a new growth phase. These partnerships position us to continue delivering the high level of service our clients expect from us, complemented by even more robust funding solutions at highly competitive rates."

"We are excited to partner with Dunmor," added Newfi CEO Steve Abreu. "We continue to be impressed by the leading technology Dunmor has created for the RTL industry."

About Newfi Lending
Newfi is a multi-channel 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 about Newfi product offerings visit Newfi.com.

About Dunmor
Dunmor is a technology-forward, data-empowered national lender specializing in residential real estate investment loans. Established in 2021, the company provides short-term bridge loans, fix and flip loans, and construction financing for residential and multifamily investment properties. Dunmor works directly with borrowers and brokers, offering competitive rates, efficient closings, and exceptional customer service. For more information, visit dunmor.com.

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SOURCE Dunmor