HomeStreet (HMST) in Seattle has sold servicing rights to about $3 billion in single-family mortgages to SunTrust Banks (STI) in Atlanta.

The $3.1 billion-asset HomeStreet said in a press release late Monday that the agreement covered unpaid balances on the loans, which it had serviced for Fannie Mae. The portfolio represents about a quarter of the single-family mortgages HomeStreet serviced for others as of March 31.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.