Major Ratings Firm Issues Second-Highest Ranking to Top Reverse Mortgage Lender

Global credit rating agency DBRS Morningstar has assigned a “good” ranking to Mahwah, N.J.-based reverse mortgage lender Longbridge Financial, in a move that Longbridge says will help to facilitate the creation of new products and features it can offer borrowers in the months and years to come. This is according to a release this week […]

Longbridge Releases New Mobile App for Loan Servicing

Mahwah, N.J.-based reverse mortgage lender Longbridge Financial announced today the launch of a new mobile application (or “app”) designed to offer servicing information and interaction to its borrowers. Based on the tools offered by the servicing website the company launched in 2019, the app is available now for Apple devices running iOS from the platform’s […]

Why Clarity is Key for Reverse Mortgage Post-Death Issues

Death is always a disruptive occurrence, and in the realm of financial planning, it can be a critical point at which surviving heirs need to make some key decisions regarding the fate of a decedent’s estate and assets. For someone who had a reverse mortgage on his or her home at the time of death, […]

Reverse Mortgage Retail, Wholesale Volume See Similar Drops in November

Home Equity Conversion Mortgage (HECM) endorsements fell by 9.4% in the month of November 2020, for a total of 3,390 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The fall comes in the midst of generally heightened reverse mortgage industry activity that has been taking place over the past few […]

Reverse Mortgage Leaders: 2021 is Cause for Optimism, Innovation and Growth

Though the onset of the COVID-19 coronavirus pandemic caused a great deal of turbulence and uncertainty in different parts of the reverse mortgage business, indications from lenders, brokers and originators signify that the economic situation created by the unique moment created additional interest in the reverse mortgage product category. For the new year, that has […]

Longbridge Investor Files IPO, Cites Reverse Mortgage Program Changes as Risk

Wholesale and correspondent mortgage lender and servicer Home Point Capital, Inc. filed for an initial public offering (IPO) through an S-1 with the Securities and Exchange Commission (SEC) late last week, the latest mortgage entity aiming to become publicly traded on the New York Stock Exchange (NYSE). Home Point, which owns an equity interest in […]