HomeStreet Launches Builder Lending Program

HomeStreet Bank, Seattle, has announced the launch of a Builder Preferred Lending program that offers special benefits to mortgage customers who buy new homes.HomeStreet said the program is modeled after its Hometown Home Loan program, under which affinity relationships are developed with private employers, municipalities, and labor groups to provide employer-assisted housing benefits to employees. Under the new program, a builder designates HomeStreet Bank as a "preferred lender," and homebuyers have access to customized benefits such as reduced closing costs and loan programs offering low downpayments or downpayment assistance, the bank said. HomeStreet can be found on the Web at http://www.homestreet.com.