Caliber Home Loans, Inc. entered into an agreement to acquire Cobalt Mortgage, Inc. on September 17, 2014. As part of the transaction, Keith Tibbles and Ernie Gehre will continue to lead the Cobalt Division of Caliber. Keith Tibbles will also be appointed Executive Vice President of Caliber and will be assigned to Caliber's Executive Leadership Committee.

Ernie Gehre will continue to oversee the sales organization of the Cobalt Division of Caliber. The transaction is expected to close in early November, 2014. Vinson & Elkins LLP acted as legal advisor to Caliber Home Loans.