Fresh on the heels of the first reverse mortgage securitization issued by its subsidiary Financial Freedom Senior Funding Corp., Washington, D.C.-based financial services holding company ULLICO Inc. announced last week it will consolidate and expand its real estate-related activities under one organization, called the Real Estate Investment Banking Group (REIBG).

Herb Kolben, formerly director of mortgage investment group, was named vice president of the REIBG. The group will have the capability of handling both equity and debt project financing, as well as continuing and expanding other real estate investments on behalf of parent company The Union Labor Life Insurance Co., ULLICO, MRCo Inc. and third parties, primarily pension funds.

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