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BANC PR D - Banc Of California Inc News Story

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BRIEF-Banc of California Inc says subsidiary entered into asset purchase agreement with Caliber Home Loans

Wed 1st March, 2017 11:20am
March 1 (Reuters) - Banc Of California Inc  BANC.N  
    * Banc of California Inc-  on february 28, subsidiary 
entered into a definitive asset purchase agreement with Caliber 
Home Loans, Inc - sec filing 
    * Banc of California- pursuant to agreement,subject to 
terms,conditions contained,bank will receive $25 million cash 
premium payment 
    * Banc of California - enters agreement for sale of mortgage 
servicing rights (MSRS) on about $3.8 billion in unpaid balances 
of conventional agency mortgages to Caliber 
    * Banc of California Inc - Caliber will purchase MSRS for 
$36 million, resulting in a net loss of $3.5 million as a result 
of MSR sale 
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