Heartland keen to beef up profitable $1 bln reverse mortgage book

Tue, 20 Feb 2018

By Paul McBeth Feb. 21 (BusinessDesk) - Heartland Bank says it would be happy to grow the size of its $1 billion reverse mortgage loan book after the business delivered "strong" earnings, especially in Australia. The Auckland-based bank, formed through the merger of Marac Finance with the Canterbury and Southern Cross building societies, got into home-equity release in 2014 when it bought Seniors Money International for $87 million, acquiring a $760 million loan book. At the time, Heartland said the deal would give the lender access...

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