Vericrest to Rebrand as Caliber Home Loans

Vericrest Financial Inc., an Irvine, Texas mortgage servicing operation owned by Lone Star Funds, will be taking the name of its merger partner and become known as Caliber Home Loans Inc., effective immediately.

Caliber Funding LLC, an originator which is also owned by Lone Star, and Vericrest Financial are being merged into a single operating entity. The announcement was made back in January and in the latest press release it says the legal close of the merger is expected in the coming months.

The company said the new name was selected to be descriptive of the company’s consumer-friendly focus and broad range of mortgage banking services.

“Vericrest Financial and Caliber Funding have continued to grow and evolve since the merger was announced and our teams have been hard at work bringing our two companies together,” said Joe Anderson, chairman and CEO of Caliber Home Loans. “Changing Vericrest Financial’s corporate name to Caliber Home Loans marks a significant milestone in this process and brings us one step closer to combining these two companies.”

At the Mortgage Bankers Association’s National Secondary Market Conference in New York, Caliber Funding announced plans to enter the correspondent origination channel.