Caliber Funding and Caliber Home Loans announced the legal close of their merger, creating a full-service, residential mortgage banking organization offering both loan origination and loan servicing solutions.

The combined entity will go under the name Caliber Home Loans and will continue to be owned by and have the capital backing of Lone Star Funds.

"We are very excited about the successful completion of the merger," said Joe Anderson, chairman and CEO.  "The merger solidifies our vision to become a full-service mortgage bank, providing both originations and servicing for our customers and business partners."

The merger was previously announced on Jan. 17, and since then, the firm has added two new channels, correspondent lending and consumer direct.