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National Mortgage Professional
Apr 16, 2008

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.
Published
Apr 16, 2008
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