BNY Mortgage Adopts EverBank Name

BNY Mortgage Co., formerly of West Patterson, N.J., has changed its name to EverBank Reverse Mortgage.Furthermore, the company has moved into new headquarters in Bloomfield, N.J. Back in March 2007, EverBank, Jacksonville, Fla., purchased the ownership stake in BNY Mortgage held by Bank of New York. The remaining ownership position is still held by company management. At the time of the sale, BNY Mortgage was restructured to concentrate solely on the reverse mortgage business. The company claims that under EverBank ownership, it has brought more reverse mortgage products to market than what's been introduced in the last 17 years. This includes the introduction of Reverse Select, the first fixed-rate jumbo reverse mortgage.