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Tiptree Financial Inc completes strategic transaction with Luxury Mortgage Corp


Friday, 7 Feb 2014 04:15pm EST 

Tiptree Financial Inc:Says it has completed its previously announced strategic transaction with Luxury Mortgage Corp.Says under terms of the related transaction agreements Tiptree has acquired a majority interest in Luxury Mortgage and its previously funded senior secured term loan remains outstanding.Says Luxury Mortgage expects to use the proceeds of the investment to expand operations through additional origination channels such as retail expansion and a new correspondent channel which will focus on acquiring prime credit jumbo loans. 

Company Quote

6.7
-0.02 -0.30%
3:37pm EDT