DBRS Morningstar Publishes Residential Reverse Mortgage Originator Ranking Report on Longbridge Financial, LLC

DBRS, Inc. (DBRS Morningstar) published its residential reverse mortgage originator ranking report on Longbridge Financial, LLC.

DBRS Morningstar previously assigned an MOR RVO2 residential reverse mortgage originator ranking to Longbridge Financial, LLC (Longbridge or the Company). The trend on the ranking is Stable.

Longbridge is a privately held company established in 2012 to provide reverse mortgages to homeowners over the age of 62 in the U.S. The Company originates agency-backed home equity conversion mortgages and a private reverse mortgage product, Longbridge Platinum, through retail and wholesale channels. Longbridge is majority owned by EF Holdco RER Assets LLC, a subsidiary of Ellington Financial Inc. and Homepoint Capital Inc. In 2020, the Company originated close to 6,600 reverse mortgages totaling over $1.2 billion and it has a servicing portfolio exceeding $4.5 billion.

All rankings are subject to surveillance, which could result in rankings being upgraded, downgraded, placed under review, confirmed, or discontinued by DBRS Morningstar.

DBRS Morningstar mortgage originator rankings are not credit ratings. Instead, they are designed to evaluate the quality of the parties that originate residential mortgage loans. Although the originator’s financial condition contributes to the applicable ranking, its relative importance is such that a originator’s ranking should never be considered as a proxy of its creditworthiness.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The principal methodology is U.S. Residential Mortgage Originator Rankings (August 28, 2020), which can be found on dbrsmorningstar.com under Methodologies & Criteria.

For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883.

For more information regarding structured finance rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/358308.

For more information regarding the structured finance rating approach and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/359905.

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