National reverse mortgage originator Longbridge Financial has received investments from Ellington Financial and Home Point Capital.
The funds will go toward expanding the Mahwah, N.J.-based company's reverse mortgage origination and servicing operations. The transactions will be finalized once Longbridge receives the required regulatory approvals.
Longbridge did not release terms or amounts of the transactions.
The investment from Ellington is an add-on to
"We have been working with Longbridge for a number of years and have developed great confidence in the company and its innovative approach to the reverse mortgage business," Michael Vranos, CEO of Ellington Management Group, said in a news release last week.
The investment from Home Point Capital is new for the two companies.
"We are excited about the opportunity to invest in Longbridge," Home Point CEO and
