The New England division of California-based Prospect Mortgage has become the preferred lender of real estate giant RE/MAX of New England.

The Prospect – RE/MAX partnership, which took effect Jan. 1, includes all of Prospect’s 13 New England branches in Massachusetts, Connecticut, Rhode Island and New Hampshire.

Prospect Mortgage, which already participates in several joint ventures with RE/MAX franchises in several states, is among the nation’s top-10 FHA lenders, top-five Fannie Mae HomePath financing retail REO lenders and the second biggest 203K renovation lender in the country, according to a statement. Prospect recently received Tier 1 ranking – a prestigious recognition and the highest level possible – by the U.S. Department of Housing and Urban Development (HUD), underscoring its reputation as an ultra high-quality lender.

"We are thrilled to mark the beginning of 2011 with this exciting partnership," said Kevin Jenkins, Prospect Mortgage senior vice president and New England regional manager. "We are natural teammates because we share many common traits. Like Prospect Mortgage, RE/MAX is a customer-centric, innovative company with great ambition to grow its business while strengthening the communities it serves through expanded homeownership. I am confident that our mutual customers will enjoy great value and convenience from our partnership."

"Prospect Mortgage has a legacy of successful joint venture relationships with real estate companies, and the fact that its purchase business is far beyond the industry average proves that it places great faith in the natural partnership between our two industries," said Jay Hummer, RE/MAX of New England’s executive vice president and regional director. "We are very impressed with Prospect’s commitment to provide customers with rapid loan closings, free homeowner education, and like RE/MAX, outstanding customer service. This is a big win for our customers and both companies."