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 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.
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Cash allocations fell past a threshold that typically precedes a decline in global stocks, Bank of America's Michael Hartnett wrote. Shares of chip makers tied to the AI trade will continue to ...
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