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.”