In a move guaranteed to increase Homebridge Financial Services, Inc.’s robust mortgage lending services, Homebridge has acquired the assets of a majority of HomeStreet Bank’s stand-alone home loan centers. HomeStreet Bank is a wholly owned subsidiary of HomeStreet, Inc. (Nasdaq: HMST).
The acquisition expands Homebridge’s already mammoth national footprint into areas where HomeStreet’s stand-alone home loan center based teams have a highly esteemed presence. Thirty of HomeStreet Bank’s stand-alone home loan centers, including primary offices, satellite offices, and fulfillment centers, were included in the initial closing. Plans include keeping HomeStreet’s internal mortgage operations leadership and staff in place, as well as an expected second closing to acquire additional HomeStreet stand-alone home loan and fulfillment centers.
HomeStreet first announced in February it was seeking buyers to acquire their stand-alone home loan centers and related mortgage origination personnel. “With Homebridge’s focus on customer satisfaction and a culture of growth and collaboration, we see the HomeStreet Mortgage team as a seamless fit. We look forward to the future as we grow together as a team,” said Peter Norden, CEO of Homebridge.
The acquisition of HomeStreet’s stand-alone home loan centers and related personnel raises Homebridge’s profile to include more than 240 retail branches throughout the company and our personnel count to over 2,300 associates!
Taken holistically, the HomeStreet addition is in line with our core belief that in today’s on-demand and digital economy, borrowers benefit the most by dealing with mortgage experts, not just algorithms. Where others are moving to entirely digital-based mortgage service, we are doubling down on our commitment to being tangible mortgage professionals that buyers can connect to on a human level.
To the previous members of HomeStreet, welcome to Homebridge! We look forward to a bright future as we continue to offer unparalleled levels of service and education to our borrowers. Welcome home.