UFG Holdings, LLC, the holding company of reverse mortgage lender Urban Financial of America, LLC, has named Karen C. Tankersley as general counsel.
Tankersley will lead the legal department for the entire UFG Holdings and will oversee the implementation of new corporate initiatives, corporate governance principles and other legal and regulatory functions.
She brings to the position more than 25 years of legal experience, including in-house financial services firm expertise.
“Her knowledge of regulatory and investor compliance across mortgage origination and servicing is invaluable as we seek to expand our presence in the market,” said Urban Financial President and CEO Steve McClellan in a statement.
RMD reported earlier this week that Urban Financial is rolling out a new, proprietary reverse mortgage that will be made available to borrowers beginning Sept. 2. Previously, Generation Mortgage’s Generation Plus jumbo loan was the only proprietary reverse mortgage offered in the market.
Tankersley joins UFG from Nationstar Mortgage, where she was executive vice president and chief compliance officer. Prior to that position, she worked for various financial institutions, including Aurora Bank FSB, Lehman Brothers, Finance America, LLC and Amresco, Inc., as well as for several law firms.
Written by Emily Study