HomeStreet Arm to Unload $990M Multifamily Loans to Bank of America
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HomeStreet Inc. (HMST) has agreed to sell $990 million in multifamily loans to Bank of America (BAC) as part of a strategy to reduce expensive funding sources and enhance profitability.
December 30, 2024 | 3:00 pm
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POSITIVE IMPACT
Bank of America is acquiring $990 million in multifamily loans from HomeStreet, which could enhance its loan portfolio.
Acquiring $990 million in multifamily loans could strengthen Bank of America's loan portfolio, potentially leading to increased revenue from interest income.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
HomeStreet Inc. is selling $990 million in multifamily loans to Bank of America to reduce expensive funding sources and enhance profitability.
The sale of $990 million in loans will help HomeStreet reduce its reliance on expensive funding sources, potentially improving its financial health and profitability. This strategic move is likely to be viewed positively by investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100