Associated Mortgage Bankers (AMB) has hired a dozen reverse mortgage loan officers formerly employed by Top-10 lender Urban Financial Group.
Sources close to Garden City, New York-based AMB have confirmed that the company has hired 12 former Urban Financial originators to join its growing reverse mortgage retail team.
The hires were made over the course of the last month, largely based on the originators’ previous employment with Senior Lending Network, the sources told RMD.
Urban currently operates a New York-based retail division in addition to its growing wholesale reverse mortgage business. The company, which is owned by Knight Capital Group, rose to become the No. 1 wholesale lender according to the most recent data from Reverse Market Insight, and has closed 7,884 loans over the past 12 months.
Associated Mortgage Bankers closed 168 reverse mortgages over the same time period.
A representative from AMB Mortgage declined a request for comment.
Written by Elizabeth Ecker