Residential mortgage servicer Vericrest Financial announced that it has changed its corporate name to Caliber Home Loans.

Previously in January, Caliber Funding and Vericrest Financial released their plans to combine organizations to create a full-service, residential mortgage banking organization.

In the meantime, Caliber Funding launched an expansion of its production capacity by starting a correspondent lending channel at the beginning of May.

"Vericrest Financial and Caliber Funding have continued to grow and evolve since the merger was announced and our teams have been hard at work bringing our two companies together," said Joe Anderson, chairman and CEO of Caliber Home Loans.

He added, "Changing Vericrest Financial’s corporate name to Caliber Home Loans marks a significant milestone in this process and brings us one step closer to combining these two companies."