University Lending Group has acquired assets of Huron Valley Financial Inc., a privately held mortgage banking firm also based in Ann Arbor, Michigan. With the addition of HVF's leased branch offices and 52 employees, ULG will instantly rank as one of the top reverse mortgage lenders in the country.
- The following assets of Huron Valley were included in the deal: its Ann Arbor headquarters, assets and employees of HVF’s reverse mortgage division, 1st Nations Reverse, and its wholesale lending division, HVF Partners.
- HVF loan production branch offices in Brighton, Clarkston and Southgate will also be part of the combined firm, which will have over 440 employees (including 52 added from the HVF team).
- ULG is a subsidiary of Ann Arbor-based University Bancorp Inc., owner of University Bank.