Dominion Homes Inc. and Wells Fargo Home Mortgage Inc. have finalized their mortgage-banking joint venture.
The new business, dubbed Centennial Home Mortgage LLC, will originate and fund mortgages for potential Dominion customers in the homebuilder's markets in Ohio, Kentucky and Indiana, as well as the general public.
The business will take over the mortgage-origination services, including qualifying borrowers and processing applications, previously handled by Dominion's mortgage-brokerage arm, Dominion Homes Financial Services Ltd.
1. Most people who are buying their first homes have heard of adjustable rate mortgages (ARM). However, because of so much misinformation, many don't fully understand how these types of loans work. In addition, they may not understand that these types of loans can be better than other loan options depending on the price of the home that is being purchased.
Posted at 5:10PM on Apr 10th 2006 by Somerset Financial Mortgage