In its effort to become a full-fledged residential mortgage banking organization, Vericrest Financial has changed its name to Caliber Home Loans.
Vericrest, a loan servicing firm, announced in January it would combine with Caliber Home Loans so it could begin offering both loan origination and loan servicing.
Following the merger, Caliber will still be backed by Lone Star Funds, a global private equity firm. The deal is expected to close in the next several months.
Caliber is based in Irving, Texas and services loans in all 50 states through centers in Texas, Oklahoma and California.