Mortgage lending and servicing giant Newrez LLC is betting on AI-powered mortgage underwriting with a strategic investment in HomeVision, a startup that’s developed a sophisticated process for verifying property valuations that Newrez will expand to cover the entire underwriting process.
HomeVision claims its platform, MIRA, integrates large language models (LLMs) and AI document understanding capabilities to analyze “every page, word and image” of appraisals and collateral underwriting. MIRA analyzes text addenda and sketches, for example, and analyzes images to identify the quality and condition of “comps” used to value a property.
In announcing that it’s taking an undisclosed stake in HomeVision, Newrez said it’s already using the company’s MIRA collateral underwriting AI technology and has doubled operational efficiency in that area.
“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 announced Wednesday.
Based in Fort Washington, Pennsylvania, Newrez is a subsidiary of Rithm Capital Corp., and claims to be a top five mortgage lender and servicer, originating mortgages through retail, correspondent and consumer direct channels.
Jeff Foster
“We are thrilled to deepen our relationship with Newrez as a partner to advance our mission to build the industry’s leading AI-enabled underwriting platform,” HomeVision CEO and co-founder Jeff Foster said in a statement. “Their investment accelerates our ability to expand beyond collateral review and deliver more intelligent, scalable underwriting solutions across the mortgage origination process.”
San Francisco-based HomeVision had eight job openings on Wednesday, including appraisal policy analyst, fullstack software engineer and site reliability engineer.
AI at the intersection of lending and servicing
Tighter integration of mortgage lending and loan servicing is all the rage, with big lenders and servicers seeing opportunities to pitch refinancing offers to homeowners they collect payments when mortgage rates drop. AI can play a big role by automating the process of notifying borrowers when refinancing might be advantageous.
As a loan servicer, Newrez was collecting monthly payments on $878 billion in mortgages on behalf of investors as of Sept. 30, Rithm Capital said in its most recent quarterly report to investors. The servicing business generated $1.7 billion in revenue for Rithm Capital during the first nine months of 2025, up 18 percent from the same period of 2024.
After bringing Rocket Mortgage, real estate brokerage Redfin and mortgage loan servicing giant Mr. Cooper under one roof in 2025, Rocket Companies CEO Varun Krishna says he is “obsessed” with AI.
The nation’s biggest mortgage lender, United Wholesale Mortgage, has also invested heavily in AI and last month announced a deal to acquire RoundPoint Mortgage Servicing’s parent company in a $1.3 billion all-stock transaction.
Last year Guild Mortgage was taken private in a $1.3 billion merger with Bayview Asset Management, the parent company of Lakeview Loan Servicing. Although known for providing purchase mortgages to homebuyers, Guild retains the mortgage servicing rights (MSRs) on many of the loans it originates and was collecting monthly payments from 387,000 borrowers with $98.3 billion in outstanding mortgage balances as of Sept. 30.
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