Items Tagged with 'HomeStreet'


  • HomeStreet selling off majority of mortgage business to Homebridge, New Residential, PennyMac

    Origination business going to Homebridge; MSRs to New Res, PennyMac
    HomeStreet Bank's move away from mortgages is nearly complete. Earlier this year, HomeStreet announced that it was planning to shift its business away from mortgages by selling off its retail mortgage origination business and a big chunk of its mortgage servicing rights. Now, the bank has found buyers for its mortgage business: Homebridge Financial Services, New Residential Mortgage, and PennyMac.
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  • HomeStreet Bank finds a buyer for its retail loan centers: Homebridge

    Reaches non-binding agreement to sell to Homebridge Financial Services
    In a deal that will likely make changing the outside signage a little easier, HomeStreet Bank inked a deal to sell part of its retail mortgage business to Homebridge Financial Services. The deal would likely include HomeStreet's 72 home loan centers in five states as well as a number of mortgage professionals.
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  • HomeStreet Bank moves to sell off almost entire mortgage business

    Lender’s mortgage business has struggled recently
    After struggling to keep up with the mortgage business’ new reality of lower refinance originations due to higher mortgage interest rates, HomeStreet Bank is plotting a mass exodus from the mortgage business. The bank announced Friday that it is planning to sell off its entire retail mortgage operation, which includes 72 home loan centers in five states.
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  • HomeStreet appoints Mark R. Patterson to board of directors

    Patterson to serve on boards for HomeStreet Bank and its parent company
    HomeStreet, the parent company of HomeStreet Bank, announced Thursday it has appointed Mark R. Patterson to the board of directors for both the company and the bank. Patterson will also serve as a member of HomeStreet Bank’s finance committee, as well as the enterprise risk management committee for its parent company.
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  • HomeStreet sees easy earnings beat in 1Q

    Fee and net interest income boosted
    HomeStreet saw an outstanding first quarter with an easy earnings beat after it closed the Simplicity merger, saw net interest income expanded, posted a big fee income boost, and saw its efficiency ratio improved again.
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  • HomeStreet to sell $3B in MSRs to SunTrust

    Preps for Basel III-based regulatory capital standards
    HomeStreet is selling a portion of its single-family mortgage servicing rights to SunTrust Mortgage in preparation for the Jan. 1, 2015, effective date of the new Basel III-based regulatory capital standards.
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  • HomeStreet predicts return to mortgage profitability

    1Q net income rises to $2.3 million
    Despite the company being challenged by lower-than-anticipated loan volume, it anticipates a return to mortgage origination profitability in the second quarter and beyond after recording a first-quarter 2014 net income of $2.3 million.
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