HomeStreet Bank Sells $990 Million in Real Estate Loans to Bank of America
December 28, 2024 - 04:14
In a significant financial move, HomeStreet Bank has announced the sale of $990 million worth of its real estate loans to Bank of America. This strategic decision is aimed at bolstering the bank’s financial position by utilizing the proceeds to pay down advances from the Federal Home Loan Bank and to reduce brokered deposits.
The transaction underscores HomeStreet's commitment to maintaining a strong balance sheet while managing its liabilities effectively. By liquidating a substantial portion of its real estate loan portfolio, the bank is poised to enhance its liquidity and streamline its operations.
This sale not only reflects the bank's proactive approach to financial management but also highlights the ongoing demand for real estate financing in the current market landscape. As HomeStreet Bank continues to navigate the complexities of the financial sector, this move is expected to fortify its overall stability and growth potential in the coming years.
MORE NEWS
September 16, 2025 - 20:45
Austin Housing Market Shows Resilience Amid Regional SlowdownThe Austin metro housing market demonstrated resilience in August, maintaining a balance that distinguishes it from surrounding areas. While many regions experienced a slowdown in home sales,...
September 16, 2025 - 08:34
Iconic Bay Area Estate Linked to Elizabeth Holmes Sells for Record $85 MillionDozens of illustrious people have been tied to the property, which recently made headlines with its record-breaking sale price of $85 million. This historic estate, located in the affluent Bay Area...
September 15, 2025 - 23:37
Rising Risks in Residential Real Estate MarketsA recent report has highlighted increasing risks in various residential real estate markets across the United States. As affordability continues to decline, many potential homebuyers are finding it...
September 15, 2025 - 08:22
Shohei Ohtani and Agent Seek Dismissal in Hawaii Real Estate LawsuitDodgers star Shohei Ohtani and his agent are currently working to have a lawsuit against them dismissed, following allegations from a Hawaii real estate investor. The investor claims that Ohtani...