DEC 5, 2013 6:09pm ET

Investor Group Buys Reverse Lender Urban Financial Group

Print
Reprints
Email

An investor group led by Brian Libman has completed the acquisition of Urban Financial Group, a reverse mortgage lender, from KCG Holdings Inc.

The investor group paid $80 billion for the Tulsa, Okla.-based shop. It is a FHA-approved Home Equity Conversion Mortgage lender and approved Ginnie Mae issuer.

“Urban Financial Group is well-positioned to capitalize on the significant growth opportunities in the promising reverse mortgage originations market,” Libman says.

Libman previously served as the chief strategy officer for Walter Investment Management. He recently resigned from that post.

At the closing, Walter Investment made a $15 million invest in UFG. KCG Holdings announced its intention to sell UFG back in July.

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
You must be registered to post a comment.
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.
Twitter
Facebook
LinkedIn
Already a subscriber? Log in here
Please note you must now log in with your email address and password.