HomeStreet (HMST) in Seattle has sold servicing rights to about $3 billion in single-family mortgages to SunTrust Banks (STI) in Atlanta.

The $3.1-billion-asset HomeStreet said in a press release late Monday that the agreement covered unpaid balances on the loans, which it had serviced for Fannie Mae. The portfolio represents about a quarter of the single-family mortgages HomeStreet serviced for others as of March 31.

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