Caliber Home Loans, a residential mortgage producer and servicer, filed on Friday with the SEC to raise up to $100 million in an initial public offering. All shares in the offering will be sold by existing shareholders. The company plans to raise an additional $100 million through a separate public offering of its Mandatory Convertible Preferred Stock.
With a diversified, customer-centric platform, Caliber Home Loans focuses primarily on the purchase market and is the second largest independent mortgage originator based on purchase volume since 2016. In the FY 2019, the company was the only mortgage provider to maintain a top 10 market position across all the retail, wholesale, and correspondent channels.
The Coppell, TX-based company was founded in 1963 and booked $1.9 billion in revenue for the 12 months ended June 30, 2020. It plans to list on the NYSE under the symbol HOMS. Credit Suisse, Goldman Sachs and Barclays are joint bookrunners on the deal. No pricing terms were disclosed.
