HomeStreet to sell two residential mortgage loan pool HomeStreet announced its intent to sell two pools of residential loans, retaining the right to service such loans. The first pool is comprised of fixed-rate residential mortgage loans with outstanding principal balances of approximately $105M. The second pool is comprised of adjustable rate residential mortgage loans with outstanding principal balances of approximately $222M. The mortgage loans subject to these sales are located in Washington, Oregon, Idaho and Hawaii. The $105M pool sale is expected to close in March and the $222M pool sale is expected to close in April.
Keefe Bruyette to hold a conference 16th Annual Community Bank Investor Conference is being held in New York on July 28-29 with webcasted company presentations to begin on July 28 at 8 am; not all company presentations may be webcasted. Webcast Link
HomeStreet added to Top Picks list at FBR Capital FBR Capital added HomeStreet (HMST) to its Top Picks list and raised its price target for shares to $32 from $25. FBR removed New Residential Investment (NRZ) from the list. The firm expects HomeStreet's earnings diversification to bring a higher valuation multiple and keeps an Outperform rating on the name.