The reverse mortgage unit of a Maryland-based home lender has been sold in a transaction that promises to create a top-tier reverse mortgage lender.
Huron Valley Financial Inc. was already in the reverse mortgage space through subsidiary 1st Nations Reverse Mortgage, which was launched in October 2016.
But the Ann Arbor, Michigan-based organization aspires to be a bigger player. So it has made an acquisition that will help it achieve greater market share.
Source: Mortgage Daily