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Longbridge Financial Introduces New Proprietary Reverse Mortgage Feature That Preserves Equity for Heirs
Longbridge Financial has introduced “Platinum Preserve,” a new feature within its Platinum Max reverse mortgage program, aimed at homeowners aged 55 and older. This offering enables borrowers to access a portion of their home equity while reserving 10% to 40% for future needs, such as healthcare expenses, downsizing, or leaving a legacy for heirs.
In The News
Longbridge's new reverse mortgage aims to preserve home equity for heirs (Housingwire)
In this latest HousingWire story, Longbridge Financial unveils a proprietary reverse mortgage aimed at helping older homeowners access home equity while preserving more for their heirs. Unlike traditional federally insured options, this private product offers flexible terms for higher-value homes and is designed to minimize equity depletion. It caters to retirees seeking financial support without compromising their legacy, highlighting a broader industry shift toward balancing short-term needs with long-term estate planning.
Why this economist bet big on seniors’ home equity (National Mortgage News)
In this National Mortgage News interview, Longbridge Financial CEO Christopher Mayer discusses how his background as an economist and academic informs his mission to responsibly expand reverse mortgage access for older homeowners, emphasizing the need to overcome misconceptions and better serve older homeowners with financial tools.
Longbridge’s Melissa Macerato on the impact of new proprietary product (Housingwire)
In a recent HousingWire article, Melissa Macerato, Chief Revenue & Marketing Officer at Longbridge Financial, discusses the company’s new proprietary reverse mortgage product, Platinum Peak, designed to assist borrowers who previously fell short of qualifying due to insufficient proceeds, by offering higher loan-to-value ratios and appealing to younger eligible owners.
Longbridge has a new addition to its proprietary reverse mortgage suite (Housingwire)
Longbridge Financial has introduced “Platinum Peak,” a new proprietary reverse mortgage product offering higher loan-to-value ratios to provide borrowers with increased loan proceed.
Assessing the reverse mortgage technology landscape (Housingwire)
In the HousingWire article “Assessing the Reverse Mortgage Technology Landscape,” Bill Packer, COO of Longbridge Financial, emphasizes that the reverse mortgage industry must adopt modern, integrated technology platforms to enhance efficiency, compliance, and borrower experience, moving beyond the outdated, fragmented systems currently in use.
Longbridge appoints new head of credit policy, underwriting and QC (Housingwire)
Longbridge Financial has appointed Patrick Halonen to lead its credit policy, underwriting, and quality control efforts.
Knowledge and Advice
10 Reverse Mortgage Myths: A Closer Look at Common Misconceptions
[Content updated as of January 17, 2024] The Home Equity Conversion Mortgage (HECM, pronounced heck´-um), commonly known as a reverse mortgage, is a secure and increasingly popular financial tool designed specifically for homeowners aged 62 and older. With a
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