other material
confidence high
sentiment neutral
materiality 0.80
HomeStreet closes sale of $990M multifamily loans at ~92% of principal
Mechanics Bancorp
- Sold $990M multifamily CRE loans on Dec 27 and 30, 2024, on a servicing retained basis.
- Price including retained servicing value approximately 92% of principal balance.
- Substantially all proceeds used to pay down Federal Home Loan Bank borrowings.