We prove a factorization theorem for reproducing kernel Hilbert spaces whose kernel has a normalized complete Nevanlinna-Pick factor. This result relates the functions in the original space to pointwise multipliers determined by the Nevanlinna-Pick kernel and has a number of interesting applications. For example, for a large class of spaces including Dirichlet and Drury-Arveson spaces, we construct for every function f in the space a pluriharmonic majorant of |f | 2 with the property that whenever the majorant is bounded, the corresponding function f is a pointwise multiplier. 2 H k < ∞, where {e n } is an orthonormal basis for E. It is easy to show that 2010 Mathematics Subject Classification. Primary 46E22; Secondary 47B32, 30H15.