Caliber Home Loans, the Coppell-based mortgage company, is seeking to raise up to $200 million in an initial stock offering.
The fast-growing home loan firm filed Friday with the U.S. Securities and Exchange Commission for its first public securities sale. Record-low interest rates are fueling a home buying and refinancing boom, leading privately owned mortgage companies to capitalize on Wall Street.
Home mortgage originations are forecast to hit $3.9 trillion this year – up from about $2.2 trillion in 2019. More than $2.4 trillion of this year’s home lending volume is homeowners refinancing their property at lower mortgage rates.
Caliber Home Loans is owned by an affiliate of Dallas private equity investor Lone Star Funds, which will maintain more than 50% of the company’s stock after the public offering. The company lists its current total stockholders’ equity at more than $1 billion.
Caliber – which is moving its headquarters to the Cypress Waters development near LBJ Freeway and Belt Line Road – describes itself as the country’s second-largest independent mortgage originator. It has more than 550,000 customers for which it makes and services home loans. Its mortgage originations totaled $61 billion last year.
Through the first half of this year, Caliber recorded $275 million in profit for a 45% return on equity, according to its SEC filing. The company said its 2020 revenue of $1.13 billion through six months is just below its full-year revenue of $1.2 billion last year.
Caliber, formed in 2013 when Lone Star Funds combined separate mortgage operations, has nearly 6,000 employees today. The company filed plans this summer to move its corporate headquarters from Coppell to the hugely successful Cypress Waters development at 3401 Olympus Boulevard.
The company is taking about 80,000 square feet on two floors of the new building, according to filings with