ComUnity Forms Subprime Joint Venture

ComUnity Lending, Morgan Hill, Calif., has announced a joint venture with Borrowers Best Mortgage Co. LP, Beverly Hills, Calif., as part of its recently reported entry into subprime lending.ComUnity said Borrowers Best has a staff experienced in the subprime area. "It had been a part of our strategy since early on to partner with another company on subprime lending," said Darryl Fry, president and chief executive officer of ComUnity. He said ComUnity wants to generate "as much business as we can" in the subprime market. The company said its Mortgage Master concept -- where one mortgage professional locks, documents, and funds each loan -- has made ComUnity's loan process "one of the most efficient and effective in the industry." The company can be found online at http://www.comunitylending.com.