MetLife and EverBank sign agreement to purchase EverBank Reverse Mortgage LLC MortgagePress.comMetLife, EverBank, EverBank Reverse Mortgage LLC, reverse mortgages,
MetLife Inc. has announced the execution of a purchase agreement
whereby it will acquire EverBank Reverse Mortgage LLC of
Bloomfield, N.J., from its parent, EverBank. It is expected that
EverBank Reverse will be a division or operating subsidiary of
MetLife Bank, a direct subsidiary of MetLife Inc. Terms of the
agreement were not disclosed.
It is anticipated that the deal will be finalized by July 31,
2008.
MetLife Bank added reverse mortgages to its product portfolio in
2007. The acquisition of EverBank Reverse Mortgage will help us
rapidly grow this business and strengthens MetLifes position as an
innovator in helping Americans make the most of what they have in
retirement, said Donna DeMaio, president, MetLife Bank.
EverBank Financial Corp is a private financial services holding
company headquartered in Jacksonville, Florida. With approximately
$5.5 billion in assets, 1,600 employees, and over 450,000 customers
nationwide, EverBank is one of the industry's fastest growing, high
performing financial service firms. EverBank provides national
banking and lending products directly to consumers and through a
variety of business partners. EverBank has received numerous awards
including Forbes and Online Banking Reports Best of the Web,
Kiplingers Personal Finance magazines Best Checking
Account, as well as other servicing, banking, and technology
honors.
For more information, visit www.metlifebank.com or www.everbank.com.
