Vericrest Financial Inc. has announced that it has changed its corporate name to Caliber Home Loans, Inc., effective immediately. Caliber Funding LLC and Vericrest Financial previously announced, on Jan. 17, 2013, plans to combine organizations to create a full-service, residential mortgage banking organization offering both loan origination and loan servicing solutions. The combined organization will continue to be owned by and have the capital backing of Lone Star Funds. The new name was selected to be descriptive of the company’s consumer-friendly focus and broad range of mortgage banking services.
“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. “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.”
The legal close of the merger is expected in the coming months, subject to customary closing conditions.