Wells Fargo Home Mortgage and Kimball Hill Homes Form Joint Venture
March 10, 2008
Wells Fargo Home Mortgage, a division of Wells Fargo Bank, N.A., and one of the nation’s leading providers of residential mortgages, and Kimball Hill Homes have agreed to the terms of a joint venture to originate, process and fund mortgage loans for Kimball Hill Homes customers.
The joint venture, KH Mortgage, LLC, is co-owned by Wells Fargo Home Mortgage and Kimball Hill Homes. Terms of the agreement were not disclosed.
The joint venture will offer customers of Kimball Hill Homes a wide range of home financing products and services through Wells Fargo Home Mortgage, one of the nation’s leading providers of residential financing.
Kimball Hill Homes is one of the most successful, privately held, award winning homebuilders in the United States with more than 600 associates and nearly $1 billion dollars in annual revenues with control of more than 16,200 home sites.
For almost 70 years the Kimball Hill Homes family has dedicated itself to building fine homes and living communities of enduring value. In recent years, Kimball Hill Homes has begun a new chapter with the development of Kimball Hill Urban Centers to create master-planned, mixed-use and mixed-income communities offering diverse housing opportunities and targeted retail amenities with in neighborhood settings.
“We are proud to be in this relationship with Wells Fargo,” said Ken Love, president and CEO of Kimball Hill Homes. “We look forward to giving our new homebuyers the same positive experience in financing that they already receive when we build their new home.”
“Customers consistently tell us that being able to get all of their services in one location is important to them,” said Joe Jackson, head of Wells Fargo Ventures. “We are pleased to offer our on-site mortgage services to customers of Kimball Hill Homes.”
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