For the second consecutive year, global credit rating agency, DBRS Morningstar has issued a “good ranking” to Mahwah, NJ-based reverse mortgage lender Longbridge Financial. Morningtar confirmed the MOR RVO2 residential reverse mortgage originator ranking and declared that the trend on the ranking remains Stable.
To quote Morningstar, “the ranking reflects Longbridge’s strong and tenured senior management team, highly experienced underwriting team, financial profitability, and good loan performance.”
“Longbridge has been profitable since 2017 with acceptable returns. The Company has limited credit risk as it benefits from government guarantees provided by the Federal Housing Administration and Ginnie Mae on the performance of its reverse agency-backed portfolio while selling its private reverse mortgages to a third-party investor on a flow basis.”
The MOR RVO2 residential reverse mortgage originator ranking issued to Longbridge is the second-highest such rating.
For more information, read the full release from DBRS Morningstar.