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Stock impact report

HomeStreet Announces Partial Sale of Mortgage Servicing Rights

HomeStreet, Inc. (HMST) 
Last homestreet, inc. earnings: 4/27 04:03 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.homestreet.com
Company Research Source: Business Wire
SEATTLE--(BUSINESS WIRE)-- HomeStreet, Inc. (Nasdaq:HMST) (the “Company” or “HomeStreet”), the parent company of HomeStreet Bank (the “Bank”), announced today that the Bank has executed a definitive agreement to sell a portion of its single family mortgage servicing rights. The transaction provides for the sale of the rights to service approximately $4.9 billion in total unpaid principal balance of single family mortgage loans serviced for both Fannie Mae and Freddie Mac, which represents approximately 20% of HomeStreet’s total single family mortgage loans serviced for others as of March 31, 2018. In conjunction with the sale of servicing, the Bank also expects to transfer an estimated $27.2 million of related deposit balances to the purchaser. “The sale of this portfolio of mortgage servicing rights is part of our ongoing balance sheet and capital management,” said Mark K. Mason, HomeStreet Chairman, Pr Show less Read more
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