HomeStreet to Sell $990 Million in Loans to Bank of America

The Seattle-based parent company of HomeStreet Bank agreed to sell $990 million in multifamily commercial real estate loans to Bank of America.The price, including the value of the retained servicing, is 92% of the principal balance of the loans, and the loan sale is expected to close before Tuesday (Dec. 31), HomeStreet said in a Friday (Dec. 27) press release.“The pricing of the loan sale reflects the current interest rate environment and that the loans being sold are primarily lower yielding loans with l ...