The Miami Shores-based mortgage lender would say only the acquisition could add $125 million to the company's annual loan production, bringing total annual loan production to about $500 million.
Once the acquisition is complete, the company says in a prepared statement that it would be operating four business units managed by the subsidiary, Jupiter Mortgage. Those units would be responsible for brokering traditional forward mortgages, reverse mortgages, the business-to-business banking platform and wholesale lending.
Announcement of the pending transaction comes as publicly traded stock in America's Senior closed unchanged Monday at 19 cents per share on volume of 37,800, with shares trading as high as 63 cents and as low as nine cents over the past 52 weeks.
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