EverBank Buys Interest in BNY Mortgage Company

EverBank, Jacksonville, Fla., has purchased the Bank of New York's interest in BNY Mortgage Company.EverBank said it will reposition BNYMC to focus exclusively on growing its reverse mortgage business nationwide. Originally a joint venture between EverBank and The Bank of New York, BNYMC is shifting to focus on the origination of retail reverse mortgages, along with wholesale, correspondent and private label reverse mortgage services, the company said. EverBank is a private financial services company with approximately $4.2 billion in assets and 1,500 employees.

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