Caliber Home Loans, Inc.
| Private Corporation | |
| ISIN | 🆔 |
| Industry | Mortgage Lending |
| Founded 📆 | 2013 |
| Founder 👔 | |
| Headquarters 🏙️ | Coppell, Texas |
Area served 🗺️ | |
Key people |
|
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Caliber Home Loans, Inc. is a Coppell, Texas-based home mortgage originator and servicer established in 2013 by the merger of Caliber Funding and Vericrest Financial.[1] In April 2021, the company has merged with New Residential Investment Corp (NewRez).
History[edit]
The firm was previously owned by affiliates of private equity fund managers Trillian Fund (San Antonio, TX based) and Lone Star Funds.[2]
Caliber’s servicing portfolio has grown from $6.5 billion in March 2012[3] to $147 billion in December 2018.[4] Caliber’s growth has been fueled in part by its purchase of non-performing loans from the United States Department of Housing and Urban Development and government-sponsored enterprises like Fannie Mae and Freddie Mac.[citation needed]
In June 2016, Caliber was named #1 in Top Volume Gain by national trade publication Scotsman Guide. From 2014 to 2015, the company’s volume increased by over 100% when compared to its 2014 volume. [5]
In 2017, Caliber produced over $43 billion - its highest overall sales volume ever. [6] This high production earned Caliber the #1 ranking in Scotsman Guide's annual Top Overall Volume list in 2018. [7]
Caliber’s Wholesale division is currently the #2 Wholesale Lender in the nation. [8]
In April 2021, it was announced that the company is being sold to New Residential Investment Corp (NewRez). It sold for $1.675 billion in a consolidation play that created the fifth-largest lender in USA.[9][10]
Awards[edit]
Caliber was ranked 8th in the J.D. Power 2016 U.S. Primary Mortgage Servicer Satisfaction Study, earning a Four Power Circle Rating.[11]
Caliber's performance as a loan servicer earned them recognition as a 2018 Fannie Mae STAR STAR Performer for General Servicing. This was the result of an assessment that rated Caliber as Favorable in Investor Reporting and Accounting, Customer Service and Collections. [12]
The publisher of publisher of the militaryfriendly.com and GIjobs.com websites, VIQTORY, has awarded Caliber both the Military Friendly Employer [13] and Military Friendly Brand [14] designations based on Caliber's company-wide investment in supporting and hiring members of America’s military and their families.
Loan Products[edit]
In addition to conventional, FHA, VA and USDA loans, Caliber offers several portfolio loans. These were designed by Caliber Home Loans for prospective borrowers who may not be served by other lenders.[15] All portfolio loans comply with Ability to Repay guidelines as set forth by the Consumer Financial Protection Bureau (CFPB).[16]
Military Initiatives[edit]
In 2016, Caliber launched an expanded initiative to support military veterans, reservists and those still in active service. In addition to offering VA-insured home loans and refinancing, Caliber focused on building partnerships with organizations that support community outreach projects.[17]
External links[edit]
References[edit]
- ↑ "About Us". caliberhomeloans.com.
- ↑ "Lone Star Funds - Specialty Management Firms". Lone Star Funds.
- ↑ "Fitch Affirms Vericrest Financial, Inc. U.S. Residential Servicer Ratings; Assigns Stable Outlook - Business Wire". businesswire.com. 9 August 2012.
- ↑ "Press Release". fitchratings.com.
- ↑ “Top Mortgage Lenders 2015 rankings underscore market’s strength”, www.scotsmanguide.com. June 2016.
- ↑ As of March 30, 2018. Source: Inside Mortgage Finance (subscription only).
- ↑ Top Mortgage Lenders 2017 rankings, www.scotsmanguide.com
- ↑ As of June 2019. Source: Inside Mortgage Finance (subscription only).
- ↑ "Coppell mortgage lender Caliber Home Loans sells for $1.675 billion in consolidation play". Dallas News. 2021-04-14. Retrieved 2021-04-21.
- ↑ Linnane, Ciara. "New Residential Investment to acquire Caliber Home Loans for $1.675 billion in cash". MarketWatch. Retrieved 2021-04-21.
- ↑ http://www.jdpower.com/press-releases/jd-power-2016-primary-mortgage-servicer-satisfaction-study
- ↑ Source: https://www.fanniemae.com/singlefamily/star
- ↑ https://www.militaryfriendly.com/employers/
- ↑ https://www.militaryfriendly.com/2020-brands/
- ↑ https://www.caliberhomeloans.com/loans-programs/caliber-portfolio-lending-program
- ↑ Ability to Repay and Qualified Mortgage Standards Under the Truth in Lending Act (Regulation Z). consumerfinance.gov.
- ↑ https://www.calibermilitarylending.com/
This article "Caliber Home Loans" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Caliber Home Loans. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
