Segway, TRAC Mortgage Ink JV Pact

TRAC Financial Group, Huntington Beach, Calif., has announced a joint venture marketing agreement between its subsidiary Segway Financial Inc. and TRAC Mortgage Inc., a previously unaffiliated mortgage broker based in La Verne, Calif.Alex Baiseri, president of TRAC Mortgage, said the company has been targeting the Hispanic community in La Verne and nearby cities. The marketing pact will enable it to expand its services to other communities in California, while still emphasizing the Hispanic population, he said. "Our goal is to expand our business to include not only residential mortgage loans, but also commercial, construction, and business loans to the community at large," Mr. Baiseri said. TRAC Financial said it "intends to actively pursue acquisition and merger candidates, consisting of mortgage brokers/bankers that are structured and operated to perform satisfactorily in any mortgage climate."