Caliber Home Loans, an Irving, Texas-based residential mortgage origination and servicing company, announced at the end of May that it plans to acquire First Priority Financial, a regional residential mortgage lender with branches and originators serving California, Oregon, Washington, Idaho and Iowa.
Now, it’s official.
"We are pleased to complete this transaction and expand Caliber's geographic footprint in the Western United States," said Sanjiv Das, Chief Executive Officer of Caliber.
As previously stated, Caliber now has a servicing portfolio of approximately $90 billion, licenses in 50 states, and a sales force of more than 1,000 across more than 250 retail locations throughout the U.S.
"With the addition of the talented First Priority Financial team, we are even better equipped to serve our customers across the country and meet their unique financing needs, Das said.
“Together, we will continue to focus on a customer-centric culture and create innovative new loan solutions,” he concluded.
The financial terms of the deal were not disclosed.