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HomeStreet Bank hired more than 160 former MetLife Home Loans employees this week after MetLife's parent company said it would halt originations on forward mortgages.
MetLife Home Loans, the lending division of insurer MetLife ($42.22 -0.0375%), announced plans to no longer accept new loan applications on forward mortgages in early January.
As a result of the change, massive job cuts impacting hundreds of MetLife origination employees were announced this past week.
HomeStreet said Tuesday it is hiring 160 regional and branch managers from MetLife, as well as MetLife consultants and support staff working in Washington state, Oregon and Idaho.
HomeStreet Bank also is picking up the following sales leaders: Marie David, formerly the Pacific northwest regional sales leader for MetLife Home Loans Pacific; Anthony Grasst, who previously served as regional builder division manager for MetLife Home Loans; and loan district sales leaders Natalie Overturf and Jeff Schaller.
The group hired by HomeStreet Bank will become part of its existing forward mortgage origination operations for the Greater Puget Sound region, as well as the Southwest Washington, Northwest Oregon and Idaho markets.
"We are very excited to have this impressive group of highly respected mortgage professionals join our team," said HomeStreet Bank CEO Mark Mason.
"They are a good fit for our company because they share HomeStreet’s commitment to outstanding customer service and quality lending, furthering our position as one of the leading mortgage lenders in our markets."
In Texas alone, MetLife filed a notice with the state, informing officials of 804 staff cuts in MetLife's Irving offices this week.
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