HomeStreet Bank finds a buyer for its retail loan centers: Homebridge

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").

Homebridge had signed a letter of intent to acquire the home loan centers after HomeStreet Inc. (Nasdaq: HMST) had announced in February its intentions to find a buyer for the company’s retail.

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 "Transaction").

Press Release HomeStreet Bank Announces Signing of a Letter of Intent with Homebridge Financial Services with Respect to the Sale of HomeStreet’s Home loan center-based mortgage Origination Business

For the first 9 months of 2016 IMF produced its overall top originator ranking, which counts all first lien mortgages closed regardless of whether they are sourced from retail, direct to consumer.

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Homebridge Financial Services, Inc. Acquires Majority of HomeStreet Bank’s Stand-Alone Home Loan Centers Jun 5 2019 Homebridge In a move guaranteed to increase homebridge financial services, Inc.’s robust mortgage lending services, Homebridge has acquired the assets of a majority of HomeStreet Bank’s stand-alone home loan centers.

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