Live Well Financial Acquires Asset Portfolio & Hires NYC based Trading Desk Team

Richmond, VA – Live Well Financial is pleased to announce its strategic acquisition of a bulk portfolio of GNMA guaranteed bonds from an unnamed seller. The transaction settled in late August and includes GNMA HREMIC Securities comprised of $531 Million in notional balances.

Live Well Financial has also hired a New York City based group from Stifel Financial’s (NYSE : SF) HECM Trading Desk to manage the newly acquired portfolio. The New York City based team, led by Executive Vice President Darren Stumberger (and including Senior Vice President Ernie Calabrese and Vice President Dan Foster), will join Live Well in early September.

“Given the group’s extensive capital markets experience, the Live Well trading desk will manage, structure, and invest in government guaranteed mortgage backed securities”, said Live Well Chairman & CEO Michael Hild. “Additionally, the team will be integral in creating new avenues of profitability for our company, as well as branding the franchise with the institutional investor base. We are extremely excited to welcome the Stifel team to the Live Well family.”

Prior to Stifel, Mr. Stumberger held trading and securitization posts at Bank of America Merrill Lynch, Goldman Sachs, and Morgan Stanley. Dan Foster has spent the majority of his career at Bank of America Merrill Lynch, while Ernie Calabrese has over 15 years of experience at Bear Stearns and Deutsche Bank.

Through a vertically integrated platform now consisting of the newly acquired investment portfolio and trading desk, Live Well Financial will achieve greater economic optimization and competitiveness for its retail, wholesale and correspondent channels in both the forward and reverse markets. “This is a natural time in the cycle to build infrastructure and extract a greater amount of value from mortgage originations. The team has a long-standing relationship with the management committee and is looking forward to delivering enhanced value to shareholders”, said EVP Darren Stumberger.

About Live Well Financial

Started in 2005, Live Well Financial has extended its footprint across the country from its corporate headquarters in Richmond, Virginia. This nationwide presence has helped the company become one of a select few companies that has the expertise to operate as a specialized lender for conventional, FHA, and reverse mortgages.

Live Well Financial’s management team brings a wealth of experience spanning decades of traditional banking, insurance, mortgage, and consumer financial services. The company’s strength and diversity of experience, along with a dedication to the close integration of marketing, operations, information technology, and structured finance give Live Well Financial a long-term competitive advantage in the industry.

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