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BRIEF-HomeStreet announces restructuring of mortgage banking segment
October 2, 2017 / 8:34 PM / 2 months ago

BRIEF-HomeStreet announces restructuring of mortgage banking segment

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 Source text for Eikon: Further company coverage:

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