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EverBank Exits Wholesale Broker Home Mortgage Lending

Stocks in this article: EVER

JACKSONVILLE, Fla., July 29, 2013 /PRNewswire/ -- EverBank Financial Corp (NYSE: EVER) today announced that it will end its wholesale broker home lending business and intensify its focus on the company's growing network of retail lending offices and consumer-direct and correspondent lending channels.

"As the housing market recovers and the competitive and regulatory landscape of the residential mortgage industry evolves, we believe now is the time for EverBank to focus on growth opportunities in our retail, direct and correspondent lending businesses," said Robert M. Clements, EverBank's chairman and chief executive officer.

EverBank's wholesale broker lending business offered a comprehensive suite of mortgage products to mortgage brokers nationwide, including conventional, FHA, VA and jumbo loans.  These products will continue to be offered by EverBank to clients across the country through the company's other home lending distribution channels.

"We're dedicated to providing innovative mortgage products to our clients and improving the efficiency and effectiveness of EverBank's loan-origination platforms," said Blake Wilson, EverBank's president and chief operating officer.  "To do that, we've decided to exit the wholesale broker lending business and continue enhancing our other residential lending channels."

The company will close wholesale lending regional operations centers in Dallas, Texas, Sacramento, California, and Jacksonville, Florida, and will eliminate approximately 150 positions nationwide as result of these changes.

About EverBank Financial Corp EverBank Financial Corp, through its wholly owned subsidiary EverBank, provides a diverse range of financial products and services directly to clients nationwide through multiple business channels. Headquartered in Jacksonville, Florida, EverBank had $18.3 billion in assets and $13.7 billion in deposits as of March 31, 2013. With an emphasis on value, innovation and service, EverBank offers a broad selection of banking, lending and investing products to consumers and businesses. EverBank provides services to clients through the internet, over the phone, through the mail, at its Florida-based financial centers and at other business offices throughout the country. More information on EverBank can be found at www.abouteverbank.com.

SOURCE EverBank

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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