Chestnut Hill-based Hammond Residential Real Estate has launched a joint venture with Wells Fargo Home Mortgage to originate, process and fund mortgage loans for buyers and sellers.

The joint venture, Massachusetts Residential Mortgage, LLC, is co-owned Wells Fargo Venture, LLC, a subsidiary of Wells Fargo Bank, Hammond. Terms of the agreement were not disclosed.

Massachusetts Residential Mortgage will provide allow Hammond’s clients to obtain Wells Fargo mortgages through local loan originators.

 "We are proud to be in this relationship with Wells Fargo," said Saul B. Cohen, president and founder of Hammond Residential. "We look forward to giving our new homebuyers the same positive experience of financing that they already receive when a Hammond agent helps them to look for a new home."

"Customers consistently tell us that being able to get all of their services in one location is important," said Douglas Lee, area sales manager for Wells Fargo Home Mortgage, based in Newton, Mass.  "We are pleased to provide our on-site mortgage services to our clients."