New U.S. corporate headquarters and first-to-market product innovation signals growth
As a final step in aligning with its parent company, EverBank, BNY Mortgage Company, LLC announced that it has officially changed its name to EverBank Reverse Mortgage LLC. EverBank purchased Bank of New York's interest in BNY Mortgage in March 2007. Since then, the company has focused exclusively on expanding its reverse mortgage business nationwide.
"The reverse mortgage industry is experiencing rapid growth as older Americans seek a greater sense of financial well-being and peace of mind," said Rob Clements, CEO and chairman of EverBank. "With the transition now complete, EverBank Reverse Mortgage can focus on continued growth and product innovation while providing superior service to its senior customers."
EverBank Reverse Mortgage anticipates that the number of older Americans securing reverse mortgages will increase by 50 percent this year. With its staff of industry leaders and their cumulative knowledge and expertise in retail, wholesale and reverse mortgage services, the company is poised to lead the U.S. reverse mortgage business. Already, the team at EverBank Reverse Mortgage has brought more reverse mortgage products to market than what's been introduced in the last 17 years.
This transition marks continued product innovation, including the introduction of Reverse SelectSM, the first fixed-rate jumbo reverse mortgage. Reverse Select is specifically designed to suit the needs of older Americans who want more cash than a traditional reverse mortgage and the added financial certainty of a fixed interest rate for the life of the loan. Reverse Select offers homeowners a variety of interest rate and origination fee options, as well as the ability to choose a monthly payment option in addition to the standard lump sum payment.
"Reverse Select eliminates the uncertainty associated with an adjustable rate while offering a new level of flexibility, giving borrowers the comfort of knowing exactly how much money they will owe at any point in time. This is particularly helpful in the estate planning process," said Robert Sivori, CO -President, EverBank Reverse Mortgage.
As a final step in the transition, EverBank Reverse Mortgage has also moved its national headquarters from West Paterson, N.J., where it inhabited a Bank of New York building, to a state-of-the-art EverBank facility in Bloomfield, N.J. that can accommodate the anticipated growth of EverBank Reverse Mortgage, as well as house the company's sales and call center.
The Bloomfield headquarters is supported with eight offices throughout the United States. EverBank Reverse Mortgage headquarters is now located in Bloomfield at 1455 Broad Street.
About EverBank Reverse Mortgage
EverBank Reverse Mortgage LLC is headquartered in Bloomfield, New Jersey, and operates regionally as an originator and servicer of reverse mortgage loans. EverBank Reverse Mortgage LLC is an Equal Housing Lender and is located at 1455 Broad Street, Bloomfield, New Jersey, 07003. For more information, go to www.everbankreverse.com or call 800-269-6796.
About EverBank
EverBank is a private financial services holding company headquartered in Jacksonville, Florida. With approximately $5.3 billion in assets, 1,500 employees, and over 400,000 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 Report's "Best of the Web" and Kiplinger's Personal Finance Magazine's "Best Checking Account," as well as other servicing, banking, and technology honors.
EverBank is an Equal Housing Lender. Member FDIC. -- www.theasianbanker.com (November 21 2007)-- |
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