KBC Acquires Lender Lead Solutions Parent Company
August 6th, 2007 | by admin Published in LLS, News, Products, Reverse Mortgage | 7 Comments
Melville-based Vertical Lend, doing business as Mortgage Warehouse on Long Island, announced Monday that it has been bought by Belgian bank KBC. Vertical Lend also owns Lender Lead Solutions, which offers reverse mortgage leads through its Senior Lending Network. Along with offering leads, LLS opened up a reverse mortgage wholesale operation in February of this year. “What KBC brings to the table is financial backing and the ability for us to develop new proprietary products,” said Vertical Lend’s founder and CEO David Peskin. Currently, LLS doesn’t offer any jumbo reverse mortgage products through their wholesale operation, but it looks like this might change now that they have the backing of KBC.
While Melville is also the base of American Home Mortgage who recently filed for Chapter 11, Vertical has already hired a few of the 700 former AHM employees that were laid off late last week. Peskin said the company received 100 to 150 resumes over the weekend, and could hire up to 100 people if their qualifications fit the company’s needs. “This is why I don’t want people to be negative about the industry, because we’re growing,” Peskin said. To read a full copy of the press release click the link below.
Belgian bank to buy Melville mortgage co. Vertical Lend (Newsday.com)
Technorati tags: Reverse Mortgage, Lender Lead Solutions, Vertical Lend, KBC, LLS, Reverse Mortgage News
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August 26th, 2007 at 8:56 pm (#)
[…] that the company is slated to be renamed World Alliance Financial. The announcement comes after KBC Bank agreed to buy Vertical Lend, a reverse mortgage retail/wholesale lender and lead aggregator based out of Melville, NY. […]
September 14th, 2007 at 8:43 am (#)
[…] Reverse Mortgage Daily » KBC Acquires Lender Lead Solutions Parent Reverse Mortgage News Daily Melville-based Vertical Lend , doing business as Mortgage Warehouse on Long Island, announced Monday […]
October 18th, 2007 at 8:53 pm (#)
[…] has been real busy ever since KBC decided to acquire the company back in August. Along with releasing the Prime Equity Advantage and the LIBOR Flex Margin Advantage, they […]
April 20th, 2008 at 1:04 pm (#)
[…] Lead Solutions has gone through big changes over the past year and it all started when KBC Bank acquired their parent company Vertical Lend in October of 2007. In January of 2008, Vertical Lend became World Alliance Financial and […]
April 26th, 2008 at 1:19 pm (#)
[…] Lead Solutions has gone through big changes over the past year and it all started when KBC Bank acquired their parent company Vertical Lend in October of 2007. In January of 2008, Vertical Lend became World Alliance Financial and […]
April 26th, 2008 at 1:28 pm (#)
[…] Lead Solutions has gone through big changes over the past year and it all started when KBC Bank acquired their parent company Vertical Lend in October of 2007. In January of 2008, Vertical Lend became World Alliance Financial and over the […]
May 19th, 2008 at 10:32 am (#)
[…] 8/6/07 - KBC Acquires Lender Lead Solutions Parent Company […]