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
October 31, 2025 - 20:45
Real Estate CEO Claims Gen Z's Housing Challenges Are Similar to Past GenerationsFor Gen Z and younger millennials, buying a home can feel nearly impossible. With mortgage rates hovering at 6.35% and the median U.S. home price exceeding $415,000, many are opting to rent longer...
October 31, 2025 - 00:59
Real Estate Industry Faces Challenges Due to Insufficient Due DiligenceDuring a recent discussion at the Yale Real Estate Conference, a panelist highlighted significant shortcomings within the private real estate sector, attributing current fundraising difficulties to...
October 30, 2025 - 06:07
Inside Stephen King's Unique Real Estate TransformationThe acclaimed author and his wife made a significant change to their living space in 2019 by transforming their cherished home into a nonprofit archive and writer’s retreat. This decision not...
October 29, 2025 - 03:30
Washington and Lee University Hosts Successful Sixth Real Estate ForumWashington and Lee University’s Real Estate Forum celebrated a milestone this fall, welcoming a record-breaking 162 alumni, guests, and students to its sixth biannual event in Washington, D.C....