Wells, Blue Diamond Form Mortgage JV

First Team Real Estate, Irvine, Calif., has announced the launch of a joint venture between Wells Fargo Home Mortgage and Blue Diamond Enterprises LLC, which is owned by the founder of First Team. The venture, Bankers Funding Co., has agreed to originate, process, and fund mortgage loans collaboratively with the Des Moines, Iowa-based Wells Fargo Home Mortgage. "The joint venture will offer customers of Bankers Funding and First Team, as well as other homebuyers, a wide range of home financing products and services through Wells Fargo Home Mortgage, expanding the options of financial services available to homebuyers," First Team said. The company said Bankers Funding's new offerings include private mortgage banking for high-net-worth individuals and a Home Opportunities Program that provides up to 95% financing for public employees.