Industry Leaders Push for New, Streamlined Reverse Mortgage Products

Innovation in the reverse mortgage product space in both proprietary and Home Equity Conversion Mortgage (HECM) categories always stays on the minds of lenders. Lenders who have jumped into the proprietary space have been actively rolling out new additions to their product catalogs in hopes of standing out when compared with their competitors, but room […]

RMD Report: Reverse Mortgage Leaders on the Future of Proprietary Products

A great deal of the optimism that people have for the future of the reverse mortgage industry rests in the potential for proprietary products, largely unbound by the same kinds of regulations that govern the more typical products in the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program. As more lenders continue to […]

Private Reverse Mortgage Volume Inches Closer to HECM

While Home Equity Conversion Mortgage-backed securities (HMBS) production fell by 14% in calendar year 2019, the additional origination of proprietary reverse mortgages could make the amount of loans backed by new collateral roughly equal to figures recorded in 2018. Additionally, data indicates that a quarter of new origination dollars come from the proprietary reverse mortgage […]

Longbridge CEO Talks Private vs. HECM Reverse Mortgages, Branding Power

There will hopefully come a time when the reverse mortgage market, currently dominated by Home Equity Conversion Mortgages (HECMs) backed and guided by the federal government, will be eclipsed by the greater availability of private alternatives. Overcoming reputational concerns in the larger reverse mortgage market may also be accomplished by focusing on product features and […]

Longbridge Launches Platinum Origination Channel for Private Reverse Mortgages

Reverse mortgage lender Longbridge Financial announced the launch of the Platinum Origination Channel, a new distribution outlet for its line of proprietary reverse mortgages offered under the “Platinum” brand name. The new channel will provide the ability for those who have their own third-party networks to offer Platinum products to their partners as part of […]

The RMD Podcast #7: Chris Mayer, CEO of Longbridge Financial

In the seventh episode of The RMD Podcast, we speak to the CEO of Longbridge Financial, Chris Mayer! Coming into the business from notable positions in government and in academia, Mayer shares with us how his experiences ultimately led him into a primary leadership position at a top 10 reverse mortgage lender. He also shares […]

RMD Report: Low Rates, Private Products Boost 2019, Say Industry Leaders

The reverse mortgage market, comprising both traditional Home Equity Conversion Mortgages (HECMs) and proprietary loans, has been through a turbulent year in 2019. While year-over-year volume has shown a decline in the number of HECM originations when comparing the fiscal year data of 2018 and 2019, a number of other more positive developments have occurred. […]

Longbridge Introduces Proprietary Reverse Mortgage with Line of Credit

Mahwah, N.J.-based Longbridge Financial is introducing a new proprietary reverse mortgage product to its existing “Platinum” branded product line, constituting a proprietary reverse mortgage that comes with a line of credit (LOC) feature. This new Platinum LOC loan allows qualified borrowers aged 62 and older to access an open-ended line of credit that grows at […]

Reverse Mortgage Veteran Adrian Prieto Joins Longbridge

Reverse mortgage industry veteran Adrian Prieto has joined Mahwah, N.J.-based Longbridge Financial as its new assistant vice president and wholesale lending sales leader, according to a statement the company shared with RMD. In his new position, Prieto will lead the Longbridge account executive and partner liaison team to focus on wholesale business growth, with a […]

Top 10 Reverse Mortgage Lenders Reshuffle in 2019

While the reverse mortgage industry has seen its share of change, the top-10 lenders by volume has remained relatively unchanged over the last year. Yet the lender rankings within the top 10 have shifted, to present a top-10 in October 2019 that looks different in some ways from the same tabulation a year earlier. RankCompany […]