Wednesday Night Magic

Harold, Nick and Rosie came by tonight and Harold, Nick and I got in three hands of Magic.  Harold's recent losing streak turned around tonight with him winning two of the four games and Nick and I splitting the other two.

We had one interesting occurrence that I would love to hear feedback on.  Nick had a Blood Moon in play and Harold had an Urborg, Tomb of Yawgmoth in play.

The question is, does Urborg, Tomb of Yawgmoth retain the text or is it simply a Mountain?  My take is that it would become a Mountain with no text.  Please comment!