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Caliber Home Loans Case Study

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Caliber Home Loans, Inc., formerly known as Vericrest Financial, Inc., was incorporated March 7, 1963 in the State of Delaware and became licensed as a money broker in the State of North Dakota on April 16, 2009. On August 1, 2013, Caliber Funding LLC, merged into Caliber Home Loans, Inc. with Caliber Home Loans, Inc. remaining as the surviving entity and operating as the combined servicing and lending platform. Caliber Home Loans, Inc. is a wholly owned subsidiary of LSF6 Service Operations LLC, which is an indirect subsidiary of Lone Star Funds. Corporate headquarters for the Licensee are located in Irving, Texas with operations centers in Irving, Texas, Ontario, California, St. Petersburg, Florida and Itasca, Illinois. Caliber operates retail …show more content…

originates residential mortgage loans and services both loans it originates and acquired loan portfolios, consisting primarily of first and second lien residential mortgages. The Licensee also services legacy pools of recreational vehicle loans and other consumer finance loans. Caliber Home Loans, Inc. is approved to originate and service loans by Freddie Mac (FHLMC), Fannie Mae (FNMA), Ginnie Mae (GNMA), Federal Housing Administration (FHA), United States Department of Agriculture (USDA), and Veterans Administration (VA). The Licensee then sells the mortgages servicing retained or servicing released to the FNMA and FHLMC, GNMA, and other investors. The Licensee purchases mortgage servicing rights (MSRs) from market participants and performs servicing activities on behalf of investors, including the FNMA, FHLMC, GNMA, and private-label securitizations (non-agency). The Licensee also provides servicing for mortgage servicing rights acquired from third parties or contributed by affiliates.

Caliber Home Loans, Inc. has warehouse lines of credit agreements with Credit Suisse (950,000,000), Citibank (400,000,000), UBS (500,000,000) Morgan Stanley (400,000,000), Bank of America Merrill Lynch (600,000,000), and Barclays (500,000,000). The Licensee originated and/or funded 385 North Dakota loans in the amount of $69,817,319 as of year-end 2014 and 452 North Dakota loans in the amount of $83,573,302 as of year-end

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