Last week, mortgage investment firm Ellington Financial (NYSE: EFC) announced that it had reached a deal to acquireleading reverse mortgage lender Longbridge Financial, in a deal valued at roughly $75 million for a 49.6% stake. Since EFC had already maintained a stake in Longbridge, the deal will basically serve to close the remaining gap in ownership and situate EFC as the primary owner of Longbridge.

Soon after the deal was announced, EFC related great confidence in its decision by citing generally favorable demographics for the reverse mortgage industry, Longbridge’s portfolio of mortgage servicing rights (MSRs) and well-established confidence in the lender’s financial details ⇒

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