Homebridge Financial Services
has completed phase one in the acquisition of the distributed retail mortgage banking segment of HomeStreet Bank, a wholly-owned subsidiary of HomeStreet Inc. Phase one of the acquisition includes the mortgage loan production branches and fulfillment functions in Washington, Oregon and Idaho, including processing, underwriting and funding—and the hiring of related personnel. Phase two will include locations in California and Hawaii and is expected to be completed later this month.
The acquisition of HomeStreet’s home loan centers and related personnel raises Homebridge’s profile to now include 241 retail branches throughout the country and increases its personnel count to 2,344 associates. As a result, Homebridge will now be among the top 10 privately owned, independent mortgage lenders in the country based on volume.
“With Homebridge’s focus on customer satisfaction and a culture of growth and collaboration, we see the HomeStreet Mortgage team as a seamless fit,” said Peter Norden, CEO of Homebridge. “We look forward to the opportunity to incorporate the HomeStreet Mortgage team into our leading retail mortgage platform.”
Rose Marie David, EVP-director of mortgage lending at HomeStreet Bank, said, “We are excited to bring together our high performing retail mortgage teams. We feel a deep alignment with the Homebridge vision and overall sense of purpose. We look forward to the opportunity to carry on our legacy as part of the Homebridge family.”
David will be joining Homebridge as the EVP, divisional manager of the former HomeStreet mortgage team after both phases of the closing are complete.