MetLife Bank N.A., a unit of MetLife Inc., has completed its acquisition of EverBank Reverse Mortgage LLC of Bloomfield, N.J., from its parent, EverBank Financial Corp. EverBank Reverse Mortgage will be a wholly owned subsidiary of MetLife Bank. Terms of the agreement, which was announced on April 3, were not disclosed.
‘With this acquisition, MetLife Bank now has a greatly expanded team of trained reverse mortgage specialists as well as industry-leading technology to support this business,’ says Donna DeMaio, president of MetLife Bank. ‘This transaction enhances MetLife's capabilities to help consumers meet their needs for a secure retirement.’
Currently, reverse mortgages will continue to be offered under both the MetLife Bank and EverBank Reverse Mortgage brands.
Source: MetLife Bank