Wells Fargo Home Mortgage, Hammond Residential Form Joint Venture
Posted by Veronica Clemons — May 21, 2012
Chestnut Hill, MA – May 15, 2012 – Wells Fargo Bank, N. A., the nation’s leading provider of residential mortgages and Hammond Residential Real Estate, LLC have agreed to the terms of a joint venture to originate, process and fund mortgage loans for Hammond Residential Real Estate buyers and sellers.
The joint venture, Massachusetts Residential Mortgage, LLC, is co-owned by Wells Fargo Venture, LLC, a subsidiary of Wells Fargo Bank, N.A., and Hammond Residential Real Estate, LLC. Terms of the agreement were not disclosed.
Massachusetts Residential Mortgage, LLC, will provide consumers with a wide range of home-financing products and services through Wells Fargo Home Mortgage, a division of Wells Fargo Bank, N.A. Locally-based Home Mortgage Consultants (HMCs) will be available to meet with mortgage clients to provide them with preapprovals and to work with them throughout the entire mortgage application process.
Established in 1991 by Saul B. Cohen and Joseph Hare, Hammond is recognized as one of eastern Massachusetts’ premier real estate companies. Hammond is one of only three firms in eastern Massachusetts that reported closed sales volume in 2011 exceeding $1 billion. From its network of offices throughout Greater Boston, Hammond serves the city and 87 neighboring suburban communities. The firm is represented by over 400 agents and an administrative staff of 65 people. In addition to residential brokerage, Hammond offers a Rental Group, Relocation Department, Commercial Real Estate, Property Management, REO Department and a Publications Department.
“We are proud to be in this relationship with Wells Fargo,” said Saul B. Cohen, president and founder of Hammond Residential. “We look forward to giving our new homebuyers the same positive experience of financing that they already receive when a Hammond agent helps them to look for a new home.”
“Customers consistently tell us that being able to get all of their services in one location is important,” said Douglas Lee, area sales manager for Wells Fargo Home Mortgage, based in Newton, Mass. “We are pleased to provide our on-site mortgage services to our clients.”
About Wells Fargo Home Mortgage
Wells Fargo Home Mortgage is the nation’s leading mortgage lender and services one of every six mortgage loans in the nation. A division of Wells Fargo Bank, N.A., it has a national presence in mortgage stores and banking stores, and also serves the home financing needs of customers nationwide through its call centers, Internet presence and third-party production channels.
About Hammond Residential Real Estate, LLC
Hammond Residential is headquartered in Chestnut Hill and has three Boston locations and twelve suburban branch offices. The company reports over one billion dollars in sales volume annually. The firm was repurchased from GMAC by Saul B. Cohen and his management group in March, 2009. Hammond is an independently owned and operated franchise within the Real Living Real Estate franchise network.
To learn more, please visit www.HammondRE.com.