Caliber Funding And Caliber Home Loans Finalize Merger

IRVING, Texas, Aug. 1, 2013 /PRNewswire/ -- Caliber Funding LLC and Caliber Home Loans, Inc., today announced the legal close of their merger. As previously announced on January 17, 2013, the organizations were combined to create a full-service, consumer-focused, residential mortgage banking organization offering both loan origination and loan servicing solutions. The combined organization will be named Caliber Home Loans, Inc. (the "Company") and will continue to be owned by and have the capital backing of Lone Star Funds.

The combined organization has a larger platform to reach a broader consumer base through multiple borrower touch points. In addition, the expanded scale afforded by the merger provides the Company with greater capacity and financial flexibility to build its business without sacrificing its commitment to providing responsible, industry-leading services to consumers and investors.

"We are very excited about the successful completion of the merger. The merger solidifies our vision to become a full-service mortgage bank, providing both originations and servicing for our customers and business partners," said Joe Anderson, Chairman and CEO of the Company.  "Our vision is to be on the leading edge of mortgage finance, and to become a next-generation provider of products and services to current and future homeowners."

The merger provides a strong foundation for the Company and creates tremendous opportunity for its investors, business partners and employees, and enhances the overall customer experience. As a full-service mortgage banking organization, the Company is positioned to deliver:

• Innovative and cost-effective mortgage solutions;
• A holistic customer experience, beginning at loan origination;
• Substantial growth of the loan servicing portfolio; and
• A greater number of channels through which to deliver loans.

Since announcing the merger earlier this year, both organizations have experienced tremendous growth.  Caliber Home Loans materially grew its servicing portfolio with several key acquisitions. Caliber Funding further enhanced its purchase-centric growth by expanding its retail footprint and continuing to grow its wholesale division.  The Company also added two new channels, correspondent lending and consumer direct. The Company will continue to focus on helping families achieve the dream of home ownership through its consumer-centric loan origination and servicing solutions.

About Caliber Home Loans, Inc.
The Company is a full-service national mortgage lender and agency direct seller/servicer. The Company originates loans through various channels and transaction types, including a network of retail branches, wholesale lending, correspondent and mini-correspondent lending, and a consumer-direct centralized operation specializing in a variety of loan programs for purchase and refinance such as conforming, jumbo, and government products. The Company also offers innovative servicing solutions for both conforming and non-conforming loans. The Company is led by a veteran senior management team that consists of mortgage banking professionals with a history of building successful national mortgage operations.  The Company is owned by Lone Star Funds, a global private equity fund.

To learn more about the Company, please visit www.caliberhomeloans.com.

SOURCE Caliber Home Loans, Inc.