HomeStreet Bank selling $14B in MSRs to New Residential, PennyMac

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HomeStreet, Inc. has announced that the bank has executed and closed a definitive agreement selling a portion of its single family mortgage servicing rights (MSRs) portfolio to SunTrust Mortgage, Inc. The transaction closed on June 30, 2014 and provides for the sale of the rights to service approximately $3 billion in total unpaid principal balance of single family mortgage loans serviced for.

HomeStreet Bank is a community bank offering personal banking, home loans, and business banking & loans with a focus on creating long term relationships with our customers and communities.

HomeStreet Bank selling $14B in MSRs to New Residential, PennyMac HomeStreet Bank could receive nearly $190 million in total for selling $14 billion in mortgage servicing rights to New Residential and PennyMac, and selling its home loan centers to Homebridge.

HomeStreet Bank selling $14B in MSRs to New Residential, PennyMac. April 8, 2019.

(Market Exclusive via COMTEX) — HOMESTREET, INC. hmst files An 8-K Entry into a Material Definitive Agreement Item 1.01. Sale of Home Loan.

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HomeStreet Bank Sells 20 Percent of MSRs to Matrix Financial. The transaction is scheduled to be completed by Aug. 16. According to HomeStreet, the sale represents 20 percent of its single-family mortgage servicing portfolio, which consists of approximately $4.9 billion in total unpaid principal balance of single-family mortgage loans serviced.

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QCR Holdings (QCRH) in Moline, Ill., has redeemed more preferred stock it issued to the Treasury Department under the Small Business Lending Fund. The $2.4 billion-asset company said in a press.

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The Bank will also transfer deposit balances representing custodial funds and advances relating to the MSRs being sold to New Residential’s designated bank at the time the physical servicing is transferred, which as of March 29, 2019 were approximately $125.6 million.

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