Urban Financial Group announced Monday that it has hired former MetLife manager Ken Sawan as vice president of retail sales. Sawan will work toward Urban’s expansion efforts in his new role, the company said in a press release. “Ken has extensive knowledge and experience in all areas of origination, processing and leading professionals within the [...]

Knight Capital Group (NYSE Euronext: KCG), owner of top-10 reverse mortgage lender Urban Financial, reported first-quarter earnings Wednesday of $33.1 million, or 36 cents per share, beating analysts’ estimates and citing institutional sales and trading including Urban’s performance as a growth driver. The company reported $349.1 million in revenues from continuing operations, up slightly from [...]

In the wake of efforts by MetLife to implement a financial assessment for its reverse mortgage borrowers and Urban Financial Group releasing a financial assessment draft seeking feedback, the Department of Housing and Urban Development has not changed course in the development of its own rule. “Because of the specialized nature of this program, FHA [...]

Urban Financial Group has hired former Genworth account executive Ryan Menerey to join its wholesale lending team, Urban announced today. Menerey joins Urban from his most recent position as regional account manager for Genworth Financial Home Equity Access, where he managed West Coast production. “We were looking for someone to help us as we continue [...]

Urban Financial Group notified its wholesale partners this week that it is seeking feedback on proposed financial assessment guidelines for its reverse mortgage borrowers. In a memo obtained by RMD, Urban outlined the draft of proposed guidelines for borrowers and is seeking comments between now and January 27. The company has not indicated any time [...]

Whether it was the sad slow demise of Financial Freedom or the shocking exits of Bank of American and Wells Fargo, the last year has been a rough one on the reverse mortgage industry. While 2011 was about the loss of industry-defining reverse mortgage brands, the next 12 months will be about building the next [...]