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

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

Morningstar DBRS previously confirmed its MOR RVO2 residential reverse mortgage originator ranking on Longbridge. The trend on the ranking remains Stable.

Longbridge was formed as a Delaware LLC in 2012 primarily to originate and service reverse mortgages. The Company is headquartered in Paramus, New Jersey, with additional call centers in Charlotte, North Carolina, and Houston, Texas. Longbridge originates and acquires agency-backed home equity conversion mortgages and a suite of private reverse mortgage products under the Platinum name through retail, wholesale, and correspondent channels. The company is licensed to lend in all 50 states and Washington, D.C., and is authorized to service in all 50 states. In 2023, the Company originated over 6,550 reverse mortgages with a balance exceeding $1.1 billion and had a servicing portfolio exceeding $11.4 billion. Longbridge is wholly owned by Ellington Financial Inc.

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

Morningstar DBRS 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 an 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 (June 26, 2023), which can be found on dbrs.morningstar.com under Methodologies & Criteria.

For more information on this industry, visit dbrs.morningstar.com or contact us at info-DBRS@morningstar.com.

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