Longbridge Financial, LLC, a Mahwah, New Jersey-based retail reverse mortgage loan originator, received a minority investment from Ellington Financial LLC (NYSE: EFC).
The amount of the transaction was not disclosed.
The company intends to use the proceeds to expand the business.
Led by Chris Mayer, CEO, Longbridge Financial is a reverse mortgage loan originator for seniors to use home equity to secure retirement. The firm, which works with companies in the financial services industry who share a commitment to the highest business and regulatory standards, is licensed as a HUD lender.
FinSMEs
12/09/2014