Wells Forming JV With Homebuilder

Wells Fargo Home Mortgage, Des Moines, Iowa, and Dominion Homes, a homebuilder based in Dublin, Ohio, have announced plans to form a joint venture that will originate and fund mortgage loans for Dominion customers and the general public.Wells Fargo said it will hold a majority interest in the yet-to-be-named venture, which will operate as a mortgage bank originating and funding loans for central Ohio, Kentucky, and Indiana. It will eventually replace Dominion's mortgage affiliate, Dominion Homes Financial Services. The joint venture will use Wells Fargo's underwriting, compliance, and loan processing services. The companies can be found online at http://www.wellsfargo.com and http://www.dominionhomes.com.