Commerce Home Mortgage Acquires LoanStar Home Loans

Commerce Home Mortgage LLC and its parent company, The Capital Corps LLC, have announced the acquisition of the retail mortgage banking company LoanStar Home Loans LLC. Terms of the transactions were not made public.

 

Headquartered in Portland, LoanStar operates loan production offices in Oregon, Washington, California, Colorado, Arizona, Texas, Utah and Hawaii. The company will continue to operate under the LoanStar name as a division of Commerce.

 

“I am thrilled to partner with LoanStar and its talented professionals for this strategic transaction,” said Steven Sugarman, Executive Chairman of The Capital Corps and Commerce. “Our combined organization will have a strong balance sheet, meaningful scale, and the benefits associated with our certification as a CDFI by the United States Department of Treasury. As Commerce rolls out its proprietary, non-traditional prime mortgage products later this year, our retail loan officers will have a compelling opportunity to meaningfully grow their originations.”

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