Leading reverse mortgage lender and servicer Longbridge Financial has announced a major milestone – the company has taken over the #1 position in Wholesale, with 26.5% market share in HECM endorsements as of May 2023!
“Becoming the industry’s leading wholesale lender has long been a goal of ours, and it is gratifying to see our company’s hard work rewarded by taking over the number one position,” commented Chris Mayer, CEO, Longbridge Financial. “This is a great achievement for us, as this is the first change in the number one position in over 12 years, which is longer than Longbridge has been in business.”
“We got here not by striving to hit a specific market position, but instead by serving our clients and helping them grow their businesses,” Mayer added. “In wholesale, you are only as successful as your clients are. To maintain this leadership position, we will remain steadfast in our commitment to the core values that got us here. We need to keep focused on expanding the reverse mortgage market by increasing our partners’ volume while also bringing new partners into the space.”