Nonbank mortgage originator Change Lending will become a member of the Federal Home Loan Bank of San Francisco (FHLB-SF).

The Anaheim, California-based originator’s application was approved on Wednesday after it fulfilled all statutory requirements for membership, including those related to capital, profitability and liquidity, the company reported.

Change’s membership will become effective upon its acquisition of the required $7 million capital stock in the FHLB-SF. The transaction is expected to close in May. 

“We welcome a partnership with the FHLB-SF to enhance our strength and reach as America’s CDFI,” said Steven Sugarman, founder of the Change Company, the parent details ⇒

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