Bank of America to Buy $990 Million of Multifamily Loans From HomeStreet
(Bloomberg) -- Bank of America Corp. agreed to buy about $990 million of multifamily commercial real estate loans from HomeStreet Inc., a transaction that the seller said would help make it profitable again.Most Read from BloombergMigrant Crisis Pushed US Homelessness to Record High in 2024Proceeds from the sale will be used by HomeStreet to pay down Federal Home Loan Bank advances and brokered deposits, which carry higher interest rates than the company’s core deposits, the Seattle-based lender