Urban Releases More Detail on HomeSafe Jumbo Reverse Mortgage

After announcing in August it would enter the proprietary reverse mortgage market, Urban Financial of America this week released additional detail around its HomeSafe jumbo reverse mortgage, now available in four states.  The HomeSafe, which UFA is rolling out this week, offers borrowers with high valued homes the opportunity to borrow up to $2.25 million […]

Urban Financial Group Holdings Hires New General Counsel

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 […]

Urban Launches New Private HomeSafe Reverse Mortgage

Urban Financial of America is rolling out a new, proprietary reverse mortgage that will be made available to borrowers beginning September 2. The new, fixed-rate loan, called the “HomeSafe,” will be focused on borrowers with high-value homes, with a maximum loan amount slightly more than $2 million. It will roll out initially in five states: […]

Lenders Adapt Following Ginnie Mae Ruling on New Products

Following a notice published by Ginnie Mae earlier this month indicating the organization would no longer allow securitization of variant fixed-rate reverse mortgage loans, lenders are adapting to the news. On April 1, the Government National Mortgage Association (Ginnie Mae) notified the lending community that due to risk factors, it will prohibit the inclusion of […]

RMS Keeps Top Spot in Reverse Mortgage Securities Rankings

Reverse Mortgage Solutions maintained the top position among the HECM-backed mortgage securities rankings for the first quarter of 2014, with a total issuance of $414.7 million during the quarter. RMS was followed by Urban Financial of America and American Advisors Group, with $353.7 million and $275.0 million in issuance, respectively, according to a quarterly tally […]

Urban Financial of America Names Scarpati VP of Wholesale Lending

Urban Financial of America today announced that longtime wholesale account executive Jonathan Scarpati has been named as vice president of wholesale lending for the top-10 reverse mortgage lender overall, and top wholesale lender for the past two years.  In his new role, Scarpati will oversee all of Urban’s account executives. He brings 10 years of […]

Urban Financial Names Kristen Sieffert as Chief Operating Officer

Urban Financial of America today announced the appointment of Kristen Sieffert to the position of Chief Operating Officer, following the company’s change in ownership that became effective November 30. Sieffert has worked for Urban since January 2012 and has previous experience in the reverse mortgage industry having held positions as acting president of EquiPoint Financial […]