Investors’ lender Kiavi has named Alex Urmersbach as Chief Financial Officer, the company announced.
In this position, Urmersbach will head the company’s finance, accounting, capital markets, and business operations divisions.
“I couldn’t be more excited to join Kiavi, especially as the company continues to demonstrate impressive growth and differentiation in this challenging macroeconomic environment,” he said.
“I look forward to working with the Kiavi team to build on its already strong foundation, and am deeply committed to the organization’s mission of providing real estate investors with the capital they need to scale their businesses and revitalize aged homes across the country.”
Kiavi is a private lender focusing on residential real estate investors, with more than $13 billion in funded loans.
Urmersbach brings two decades of experience in the financial management sector to the role, including as VP of Finance at Prospect Mortgage; CFO at Panorama Mortgage Group; and CFO of Athas Capital Group, among many more.
Urmersbach attended the Anderson School of Management at UCLA and holds an MBA from Universität Hohenheim in Stuttgart, Germany.
“Alex’s extensive experience in driving growth via innovative, value-creating financial strategies will further enhance Kiavi’s ability to reliably serve our customers across the nation as well as our capital markets partners,” said Arvind Mohan, CEO of Kiavi.
The company recently closed an approximately $158 million, 12-month-term revolving securitization of unrated residential transition loans. At the end of 2022, it surpassed 50,000 funded bridge and fix-and-flip loans.
Fix and flip investors have felt their share of pain in the correcting market. Though the number of flipped homes hit its highest level in 15 years in Q4 2022, ROI sunk to its lowest point since 2008. Those returns are close to being wiped out by the cost of repairs, which could lead to some investors backing out of the market.
“This year will reveal more about whether investors decide to find different ways to profit from home-flipping or take a step back and wait for conditions to get better,” Rob Barber, chief executive officer at ATTOM Data Solutions, said of the trend.