Caliber Home Loans completes acquisition of Cobalt Mortgage

Caliber Home Loans completed its acquisition of Cobalt Mortgage, a residential mortgage company based in Kirkland with an office in Bellingham.

Caliber’s headquarters are in Irving, Texas. Their acquisition of Cobalt Mortgage is the company’s first move into the Pacific Northwest.

“We are pleased to bring the Caliber brand to the Pacific Northwest and look forward to providing more products and offerings to our customers,” said Caliber co-founders Keith Tibbles and Ernie Gehre in a press release.

The acquisition makes Caliber one of the largest independent mortgage companies in the country, according to a press release the company issued in September, when the acquisition began.

“We’re excited about it, we gained some new technology but it’s the same great people we had at Cobalt.” said Bellingham branch manager Scott Ask.

Cobalt opened their Bellingham office, at 2915 Newmarket St., in Barkley Village, 15 months ago. Ask said the branch is expanding into space above their current offices, and they hope to move into the new office by the beginning of December.

With the move, the company will be hiring a few more loan officers, Ask said.

 

Related Stories