Skip to main content

LTC Global Announces the Acquisition of EquiPoint Financial Network

Oct 28, 2010

LTC Global Inc. has announced that it has acquired a controlling equity interest in EquiPoint Financial Network Inc., a national distributor of Home Equity Conversion Mortgage (HECM) reverse mortgages. EquiPoint, based in San Diego, Calif., is a Federal Housing Administration (FHA)-approved direct endorsement lender. EquiPoint principal Bruce D. Barnes will continue to serve as president of EquiPoint. Last year, LTC Global agreed to acquire a majority interest in another reverse mortgage lender, Next Generation Financial Services (NGFS), currently operating as a division of 1st Mariner Bank. "The EquiPoint acquisition is part of our strategy to expand our financial product offerings to the senior market," said LTC Global’s Chief Executive Officer Thomas A. Skiff. "We expect substantial synergies between EquiPoint and NGFS. We admire what Bruce Barnes and the EquiPoint team have accomplished in the industry so far, and we’re looking forward to working with them.” “LTC Global’s resources and experience in the senior market will complement EquiPoint’s business. In particular, LTC Global’s financial strength will enable EquiPoint to underwrite, close and warehouse a substantial inventory of loans,” Barnes said. “We also anticipate significant marketing synergies." For more information, visit ltcglobal.com.
About the author
Published
Oct 28, 2010
More from
Reverse
Norcom's Former Reverse Mortgage Team Joins Supreme Lending

Having brokered-out reverse loans historically, the move adds a new channel to the Texas-based lender's offerings.

May 14, 2024
Rising Rates Reduce Reverse Mortgage Payouts

High rates also reduce how much one can borrow against their home equity, AARP reports.

Apr 12, 2024
CFPB Issues Warnings On Reverse Mortgage Marketing

Says it is working with state regulators to ensure fairness in advertising and teach consumers where to go for help.

Aug 15, 2023
Movement Mortgage Expands Into Reverse Mortgage

South Carolina mortgage company hires industry vet to run the operation

Aug 02, 2023
PHH Mortgage Signs Subservicing Deal With Finance of America Reverse

PHH, a subsidiary of Ocwen Financial, says deal offers opportunity to grow its reverse subservicing portfolio.

May 05, 2023
Judge Approves Liquidation Plan For RMIT

Decision OK'd after one-day delay for reverse mortgage lender to provide additional funding information.

May 01, 2023