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Caliber Home Loans Inc. has announced that it has completed its acquisition of substantially all of the assets of Cobalt Mortgage Inc. "The closing of this transaction marks an exciting new chapter for Caliber and we are pleased to welcome our new employees and customers to Caliber Home Loans," said Joe Anderson, chief executive officer of Caliber. "Cobalt is an excellent partner to further Caliber's growth trajectory into new markets, including the Pacific Northwest, while allowing us to extend our retail lending solutions to more communities across the country. With our broader reach, we are now able to partner with more Realtors and Builders to provide future homeowners with a wider variety of mortgage solutions that are uniquely tailored to meet their borrowing needs."
"We are pleased to bring the Caliber brand to the Pacific Northwest and look forward to providing more products and offerings to our customers," said Cobalt co-founders Keith Tibbles and Ernie Gehre. "Our outstanding reputation in the retail lending business makes us an attractive partner for borrowers, and I would like to thank all of our dedicated team members for their many contributions to Cobalt. We look forward to working with the Caliber team to solidify our position as the retail lender of choice."