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HomeStreet announces restructuring of mortgage banking segment


Monday, 2 Oct 2017 04:15pm EDT 

Oct 2 (Reuters) - HomeStreet Inc :HomeStreet announces restructuring of mortgage banking segment.HomeStreet Inc - ‍reduction in force of 60 full time equivalent employees​.HomeStreet Inc - ‍streamlining single family lending senior leadership team structure​.HomeStreet Inc - ‍closures, consolidations and space reductions affecting nine single family lending centers​.HomeStreet Inc - ‍Q3 mortgage banking segment pre-tax restructuring charges included one-time real estate related charges of approximately $3.0 million​.HomeStreet - ‍total expected annual pre-tax expense savings related to mortgage banking segment restructuring is estimated to be $13.2 million​.HomeStreet Inc - does not believe costs associated with restructuring will have material adverse impact on consolidated net income on Q3, Q4. 

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