Industry NewsMortgage

John L. Scott, BofA in joint venture

Response Mortgage LLC will make loans in Oregon, Washington

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John L. Scott Real Estate and Bank of America have formed a joint venture to provide mortgage loans to homebuyers in Washington and Oregon.Response Mortgage LLC, an operating series of Bank of America's CWB Mortgage Ventures LLC, is a successor to Response Mortgage Services, the lender through which John L. Scott Real Estate offered in-house home financing products and services.The joint venture will offer conforming and government fixed-rate, first-lien mortgages, as well as fixed-rate agency jumbo loans, the companies said.With 133 offices and more than 3,600 sales associates in Washington, Oregon and Idaho, John L. Scott claims to be one of the largest regional real estate companies in the nation with more than 32,000 transactions in 2008 totalling more than $9 billion. *** What's your opinion? Leave your comments below or send a letter to the editor. ...