Caliber Funding LLC and Caliber Home Loans, Inc. announced the legal close of their merger. As previously announced on Jan. 17, 2013, the organizations were combined to create a full-service, consumer-focused, residential mortgage banking organization offering both loan origination and loan servicing solutions. The combined organization will be named Caliber Home Loans Inc. and will continue to be owned by and have the capital backing of Lone Star Funds.
The combined organization has a larger platform to reach a broader consumer base through multiple borrower touch points. In addition, the expanded scale afforded by the merger provides the company with greater capacity and financial flexibility to build its business without sacrificing its commitment to providing responsible, industry-leading services to consumers and investors.
“We are very excited about the successful completion of the merger. The merger solidifies our vision to become a full-service mortgage bank, providing both originations and servicing for our customers and business partners,” said Joe Anderson, chairman and CEO of the company. “Our vision is to be on the leading edge of mortgage finance, and to become a next-generation provider of products and services to current and future homeowners.”
Since announcing the merger earlier this year, both organizations have experienced tremendous growth. Caliber Home Loans materially grew its servicing portfolio with several key acquisitions. Caliber Funding further enhanced its purchase-centric growth by expanding its retail footprint and continuing to grow its wholesale division. The company also added two new channels, correspondent lending and consumer direct. The company will continue to focus on helping families achieve the dream of home ownership through its consumer-centric loan origination and servicing solutions.