M&A Deal Summary

Homebridge Financial Services Acquires HomeStreet - Home Loan Center-Based Mortgage Origination Business

On June 6, 2019, Homebridge Financial Services acquired financial services company HomeStreet - Home Loan Center-Based Mortgage Origination Business from HomeStreet

Acquisition Highlights
  • This is Homebridge Financial Services’ 2nd transaction in the Financial Services sector.
  • This is Homebridge Financial Services’ 2nd transaction in the United States.
  • This is Homebridge Financial Services’ 1st transaction in Washington.

M&A Deal Summary
Date 2019-06-06
Target HomeStreet - Home Loan Center-Based Mortgage Origination Business
Sector Financial Services
Buyer(s) Homebridge Financial Services
Sellers(s) HomeStreet
Deal Type Divestiture

Target

HomeStreet - Home Loan Center-Based Mortgage Origination Business

Seattle, Washington, United States
HomeStreet, Inc. - Home Loan Center-Based Mortgage Origination Business is a mortgage lender in Washington, Oregon, and Idaho, including processing, underwriting and funding – and the hiring of related personnel.

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Buyer(S) 1

Buyer

Homebridge Financial Services

Iselin, New Jersey, United States
Category Company
Founded 1989
Sector Financial Services
DESCRIPTION

Homebridge Financial Services, Inc. is an independent mortgage lender. Homebridge has approximately 2,300 associates throughout its corporate offices, more than 240 retail branches and two wholesale divisions, Homebridge Wholesale and REMN Wholesale. Homebridge Financial Services, Inc. was founded in 1989 and is based in Iselin, New Jersey.

DEAL STATS #
Overall 2 of 2
Sector (Financial Services) 2 of 2
Type (Divestiture) 1 of 1
State (Washington) 1 of 1
Country (United States) 2 of 2
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-02 Prospect Mortgage

Sherman Oaks, California, United States

Prospect Mortgage is an independent residential retail mortgage lender. The company was formed during a challenging market, so they know what it takes to survive and meet customer needs during tough times. Prospect offers a variety of home loan solutions including first-time homebuyer programs with down-payment assistance, FHA and VA, conventional, jumbo and super jumbo products. Prospect Mortgage was formed in 2007 and is based in Sherman Oaks, California.

Buy -

Seller(S) 1

SELLER

HomeStreet

Seattle, Washington, United States
Category Company
Founded 1921
Sector Financial Services
Employees858
Revenue 179M USD (2023)
DESCRIPTION

HomeStreet is the holding company for HomeStreet Bank, a state-chartered, FDIC-insured savings bank. HomeStreet Bank offers consumer and business banking, mortgage lending, commercial real estate and residential construction financing, private banking, investment and insurance products and services in the Western United States and Hawaii. HomeStreet was founded in 1921 and is based in Seattle, Washington.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (Washington) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-16 Silvergate Bank - Business Lending Team & San Marcos Retail Branch

San Marcos, California, United States

Silvergate Bank - Business Lending Team & San Marcos Retail Branch including loans totaling approximately $123 million and certain off-balance sheet deposit relationships.

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