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June 7, 2019

HomeStreet Bank

Seattle-based HomeStreet Bank is evaluating a $60 million offer from Dwight Capital for its Fannie Mae DUS Business, which is a subset of its multifamily mortgage lending business. HomeStreet also announced the initial closing on the sale of its single-family mortgage origination business to Homebridge Financial Services. That deal involves the transfer of 30 stand-alone, satellite and fulfillment offices; and the hiring of 342 former HomeStreet personnel by Homebridge. A second closing, involving fewer offices and personnel, is expected by month end. HomeStreet is reducing its reliance on the cyclical and volatile earnings stream of single-family mortgages and focusing on more stable earnings from commercial and consumer banking.




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