Homebridge Financial Services, Inc. Acquires HomeStreet Bank’s Home Loan Center-Based Mortgage Origination Business

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HomeStreet (HMST) Announces Signing of LOI with Homebridge Financial Services with Respect to Sale of HomeStreet’s Home Loan Center-Based Mortgage Origination Business

SEATTLE–(BUSINESS WIRE)– HomeStreet, Inc. (Nasdaq:HMST) (the "Company" or "HomeStreet"), the parent company of HomeStreet Bank (the "Bank"), announced today that the Bank has executed a definitive agreement for Homebridge Financial Services, Inc., ("Homebridge") to acquire the assets of up to 50 stand-alone, satellite, and fulfillment offices related to the Bank’s home loan.

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New Jersey-based private, non-bank mortgage lending company Homebridge Financial Services, Inc. has agreed to buy as many as 50 HomeStreet Bank home loan center offices for around $5.9 million and.

HomeStreet Inc., the Seattle-headquartered parent company of HomeStreet Bank, has announced the sale of 50 of the bank’s single-family mortgage origination offices to Homebridge Financial Services, headquartered in Woodbridge, N.J. Homebridge has agreed to a purchase price of the net book value of.

HomeStreet Bank entered a non-bidding letter of intent for Homebridge Financial Services, Inc. to acquire assets related to HomeStreet’s stand-alone home loan centers, as well as personnel, according to a recent press release.

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Homebridge Financial Services, Inc. (Homebridge), one of the largest independent mortgage lenders in the U.S., has completed phase one in the acquisition of the distributed retail mortgage banking segment of HomeStreet Bank, a wholly owned subsidiary of HomeStreet, Inc. (Nasdaq:HMST) (HomeStreet).

“Our exit of the home loan center-based mortgage origination and related mortgage servicing business. notes on non-GAAP financial measures see the end of this press release. HomeStreet, Inc., the.

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As part of this closing an additional 17 stand-alone, satellite, and fulfillment offices related to the Bank’s home loan center-based single family mortgage origination business, were.

HomeStreet Bank Announces Signing of a Letter of Intent with Homebridge Financial Services with Respect to the Sale of HomeStreet’s Home Loan Center-Based Mortgage Origination Business

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