Homebridge Financial closes on first phase of HomeStreet home loan centers acquisition – Pacific Business News

HomeStreet Bank’s move away from mortgages is nearing its completion, as the bank announced Monday that it has completed the second part of the sale of a sizable piece of its origination business.

The sale of assets related to 47 stand-alone home loan centers (the "HLC Sale") was pursuant to a Purchase and Assumption Agreement between the Bank and homebridge financial services, Inc.

Homebridge Financial Services, Inc. (Homebridge), one of the largest independent mortgage lenders in the U.S., has completed phase one in the acquisition of the distributed retail mortgage banking segment of HomeStreet Bank, a wholly owned subsidiary of HomeStreet, Inc. (Nasdaq:HMST) ("HomeStreet"). Phase one of the acquisition includes the mortgage loan production branches and fulfillment functions in Washington, Oregon, and Idaho, including processing, underwriting and funding – and the.

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Acquisition makes HomeBridge nation’s biggest 203 (k) lender. The acquisition means that about 500 loan originators from Prospect, responsible for a total of $8.4 billion in loan production last year alone, are now HomeBridge originators. In addition, about 413 operations employees and 246 corporate associates have joined HomeBridge, bringing the company’s total number of fulltime associates to nearly 3,000.

HomeStreet Bank to sell its stand-alone home loan centers to HomeBridge financial. amerisave mortgage corp. buys origination business of The Money Source (TMS) First American Title insurance cutting 116 jobs in Santa Ana, CA. Central Pacific Mortgage – closed, tmsf cancels deal to.

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HomeStreet, Inc., (Nasdaq:HMST) ("HomeStreet"), the parent company of HomeStreet Bank ("HomeStreet Bank"), has announced that it has entered into a non-binding letter of intent for Homebridge Financial Services, Inc., ("Homebridge") to potentially acquire the assets related to HomeStreet’s stand-alone home loan centers and to hire HomeStreet’s related mortgage personnel (the.

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