Connecticut-based Ellington Financial, the parent company of top-10 reverse mortgage lender and servicer Longbridge Financial, announced this week that it has completed a securitization backed by a pool of proprietary reverse mortgages.

The $232 million securitization closed on Thursday and was backed by a pool of proprietary reverse mortgages, all of which were originated by Longbridge, according to Ellington. Longbridge will also continue to act as the servicer of the loans, the company said.

“The debt tranches issued in the securitization were rated by DBRS Morningstar, with the senior-most tranches details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com