Global credit rating agency DBRS Morningstar has assigned a “good” ranking to Mahwah, NJ-based reverse mortgage lender Longbridge Financial, in a move that will help Longbridge facilitate the creation of new products and features it can offer borrowers in the months and years to come.
The “MOR RVO2” residential reverse mortgage originator ranking issued to Longbridge Financial is the second-highest such rating, indicating that based on the information available, the products offered and the processes governing them in place at Longbridge are of “good” quality.
To quote Morningstar, “the ranking reflects Longbridge’s strong and tenured senior management team, highly experienced underwriting team, financial profitability, and good loan performance.”
This is the first such ranking that DBRS Morningstar has issued for a reverse mortgage lender. They also describe the trend on this ranking as “stable.”