Mortgage lending industry responds to sub-prime distress call

KBC Financial Products to acquire Vertical LendMortgagePress.comMortgage industry acquisitions,reverse mortgages Vertical Lend Inc. has signed a definitive agreement to be acquired by KBC Financial Products (KBCFP). "Our acquisition of Vertical Lend provides a tremendous opportunity for our company to participate in the growing reverse mortgage market," said KBCFP CEO Thomas Korossy. "Our strength in capital markets should enable Vertical Lend to provide the products and expanded distribution channels needed to broaden their offerings in the United States." Vertical Lend Inc. is a mortgage bank and brokerage based in Melville, N.Y. For more information, call (877) 692-7762 or visit www.verticallend.com. KBCFP is a wholly owned subsidiary of Brussels, Belgium-based KBC Bank NV. For more information, call (212) 845-2000 or visit www.kbcfp.com.