Reverse mortgage lender gets tax break, fights allegations
Reverse mortgage lender gets tax break, fights allegations,
A reverse mortgage lender has met one of its growth benchmarks by creating 100 jobs in just four months, under a deal with the state for $3.5 million in tax benefits.
But even as Melville, N.Y.-based Vertical Lend Inc. continues its growth in Troy and plans to add 60 jobs in January, the company grapples with allegations of deceptive business practices and use of unlicensed loan brokers in Massachusetts.
Vertical Lend, licensed to operate in 33 states and in the process of changing its name to World Alliance Financial, obtained $3.5 million in tax incentives in April from the Michigan Economic Growth Authority to locate a national office in Troy and create hundreds of jobs.
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