Reuters logo
BRIEF-Banc of California Inc says subsidiary entered into asset purchase agreement with Caliber Home Loans
March 1, 2017 / 11:39 AM / 9 months ago

BRIEF-Banc of California Inc says subsidiary entered into asset purchase agreement with Caliber Home Loans

March 1 (Reuters) - Banc Of California Inc

* Banc of California Inc- on february 28, subsidiary entered into a definitive asset purchase agreement with Caliber Home Loans, Inc - sec filing

* Banc of California- pursuant to agreement,subject to terms,conditions contained,bank will receive $25 million cash premium payment

* Banc of California - enters agreement for sale of mortgage servicing rights (MSRS) on about $3.8 billion in unpaid balances of conventional agency mortgages to Caliber

* Banc of California Inc - Caliber will purchase MSRS for $36 million, resulting in a net loss of $3.5 million as a result of MSR sale Source text for Eikon: (bit.ly/2lbFYpL) Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below