John L. Scott, BofA in joint venture
Response Mortgage LLC will make loans in Oregon, Washington
By Inman News, Tuesday, July 7, 2009.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.
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Submitted by Jay Thompson on July 7, 2009 - 2:07pm.
Who am I to argue with John L. Scott? But I never have been, and never will be, a fan of in-house financing.
Jay Thompson
Broker / Owner
Thompson's Realty
Blog: www.PhoenixRealEstateGuy.com
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