HomeStreet Bank offloads $990 mln multifamily loans to BofA

Bank of America acquires nearly $1B in multifamily loans
The bank is acquiring $990 million in multifamily commercial real estate loans from Seattle-based HomeStreet, Bloomberg reported. A majority of the loan sale was expected to close on Friday, while the remaining $338 million will close as soon as today.
HomeStreet sells $990M of commercial property loans to Bank of America
HomeStreet (NASDAQ:HMST) agreed to offload $900M of multifamily commercial real estate loans to Bank of America (NYSE:BAC) at 92% of the principal balance, with servicing retained, it said on Friday.
HomeStreet Bank offloads $990 mln multifamily loans to BofA in profit push
HomeStreet Bank is selling nearly $990 million of its multifamily commercial real estate loans to Bank of America , in a deal that the Seattle-based lender said would help it return to profitability and reduce costly funding sources.
HomeStreet Bank to sell $990M of its real estate loans to BofA
Proceeds from the sale will be used by Seattle-based HomeStreet to pay down Federal Home Loan Bank advances and brokered deposits.
HomeStreet Shares Gain on $990M Loan Sale to BofA
The shares are up 19% on the year. The Seattle-based operator of HomeStreet said before the market opened that it agreed to sell to Bank of America multi-family commercial real estate loans priced at 92% of the principal loan balance,
HomeStreet To Sell $990 Mln Of Multifamily Commercial Real Estate Loans To Bank Of America
(HMST), Friday announced that its subsidiary HomeStreet Bank has agreed to sell $990 million of multifamily Corp. (BAC) on a servicing retained basis. The loan portfolio will be sold at a price, including the value of the retained servicing,
HomeStreet Bank to sell $990 million multifamily loan portfolio to BofA
HomeStreet Bank said on Friday it has agreed to sell nearly $990 million of its multifamily commercial real estate loans to Bank of America. BofA has agreed to pay about $906 million for the loans, which accounts for nearly 92% of the value of the portfolio,
HomeStreet Bank to sell $990 million in multifamily loans after failed merger
Seattle-based HomeStreet Inc. (Nasdaq: HMST) and its subsidiary HomeStreet Bank are selling about $990 million of multifamily commercial real estate loans — about 190 loans — to Bank of America (NYSE: BAC).
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