Industry Leaders: HECMs to Drive Reverse Mortgage Industry in Near-Term

The reverse mortgage industry is likely to be led by Home Equity Conversion Mortgage (HECM) business as opposed to proprietary products in the near future, owing to the value proposition and rate environment according to industry leaders at two different top ten lenders. This is according to the leaders themselves during panels at RMD’s HEQ […]

Wholesale Reverse Mortgage Growth Outpaces Retail Volume Drop in July

Home Equity Conversion Mortgage (HECM) endorsements rose by 1.2%% in the month of July 2020, for a total of 4,254 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The rise comes in the midst of generally heightened reverse mortgage industry activity that has been taking place over the past few […]

Longbridge Bolsters Training Division, Expands Online Wholesale Features

Mahwah, N.J.-based reverse mortgage lender Longbridge Financial announced several new initiatives today including new hires to the company’s training department, while also bolstering the online presence of its wholesale division to include new features for brokers and additional educational materials to allow new brokers to become more accustomed to the specifics of the reverse mortgage […]

Reverse Mortgage Lessons the U.S. Can Learn From Other Parts of the World

The concept of the reverse mortgage is active all over the world. While different countries see different levels of reverse mortgage success, analysts and researchers at institutions like the World Bank and the Brookings Institution see a greater potential for reverse mortgage products to provide solutions to increasingly cash-strapped seniors both within and beyond the […]

Reverse Mortgage Volume Dips Slightly in August, Though Remains High

Home Equity Conversion Mortgage (HECM) endorsements fell by 5.9% to 4,007 loans for the month of August 2020, a slight dip on the August numbers but still a high figure overall in emphasizing that the reverse mortgage business remains on strong footing during the COVID-19 coronavirus pandemic. This is according to the August HECM Lenders […]

Investment Firm Touts Longbridge’s Reverse Mortgage Success in Earnings Call

Mortgage investment firm Ellington Financial LLC (NYSE: EFC) released its Q2 2020 earnings results last week, and has touted the success of top 10 reverse mortgage lender Longbridge Financial, describing the lender’s performance as a “driver” of positive performance in its mortgage investments portfolio. “The Company’s investments in loan originators had strong performance during the […]

Longbridge Leads Major Lenders in Key Reverse Mortgage Metric

Home Equity Conversion Mortgage (HECM) conditional prepayment (CPR) speeds surged in June, as borrowers take greater advantage of the interest rate environment that has resulted from the unfreezing of the 10-year LIBOR SWAP rate, while the lowest prepay speeds indicate one top lender is faring best among its competitors. This is according to data compiled […]

Changemakers: Chris Mayer, CEO of Longbridge Financial

Longbridge Financial CEO Chris Mayer is a unique presence in the reverse mortgage industry by virtue of his wealth of accomplishments. Not only has he earned a PhD in economics from MIT, but he serves as Paul Milstein Professor of Real Estate at Columbia Business School, bringing an unparalleled academic pedigree to the leadership structure […]

Longbridge Reports Record Reverse Mortgage Volume, Expands Wholesale Operations

Mahwah, N.J.-based reverse mortgage lender Longbridge Financial reports that it has seen a significant uptick in loan volume during the COVID-19 coronavirus pandemic, which has led to a major expansion of its wholesale operations and staff in order to compensate for the higher level of business during the second quarter of the year. That higher […]