Longbridge Bolsters Training Division, Expands Online Wholesale Features

Mahwah, N.J.-based reverse mortgage lender Longbridge Financial announced several new initiatives today including new hires to the company’s training department, while also bolstering the online presence of its wholesale division to include new features for brokers and additional educational materials to allow new brokers to become more accustomed to the specifics of the reverse mortgage industry.

The expansion of the company’s training department will allow for more collaboration with the company’s wholesale division, while the additions to the wholesale website will allow users to map out different potential scenarios that a borrower may want to use a reverse mortgage for, while the new resources on the training website will include a library of video content designed to educate more potential partners about the reverse mortgage product category.

Training department brings aboard reverse industry veterans

Longbridge’s newest hires in its training department include reverse mortgage industry veteran Jim McMinn and mortgage veteran Tiffany Myint.

McMinn has been brought aboard as Longbridge’s new sales training manager, and will specialize in coaching company sales staff and its partners on all aspects of the reverse mortgage business including available products, industry and category history, governing regulations and his own perspectives on sales technique. McMinn has worked exclusively in the reverse mortgage industry since 2002, most recently for Finance of America Reverse (FAR) as sales training manager. His industry experience also extends to American Advisors Group (AAG) and Wells Fargo Home Mortgage.

New Operations Trainer Tiffany Myint will specialize in helping the company’s operations staff improve productivity and efficiency to facilitate better service to Longbridge’s wholesale partners. Myint has 30 years of experience in mortgage banking, using her subject matter expertise to provide corporate training to companies including Wells Fargo, Prosperity Home Mortgage and Planet Home Lending.

McMinn and Myint’s hiring complement the division rounded out by Corporate Trainer Debbie Labriola, who is in charge of overseeing all of Longbridge’s onboarding operations for new employees, including orientation and other corporate training initiatives. Labriola has been with Longbridge since 2016 and has worked across several different departments of the reverse mortgage industry to which she has been solely dedicated over the past 10 years.

The additional investment in training on the part of Longbridge is being made with an eye toward growth in 2021 according to Adrian Prieto, VP of wholesale lending.

“Our 2020 plan was largely focused around growing both our wholesale and retail channels substantially,” Prieto tells RMD in an email. “As our volume this year has surpassed our original projections, we’ve adjusted and committed to adding even more resources to meet this surge in volume. Our growing team of professionals bring a variety of skill-sets and provide us the bandwidth to not only continue to meet the current demand, but also equip ourselves to keep up the momentum in 2021 and years to come.”

New online wholesale experiences, training library

In addition to bolstering its training department, Longbridge has also rolled out additions and enhancements to its wholesale division’s online presence. These include the addition of a “scenario calculator,” as well as a library of educational materials designed to acclimate brokers to the specifics of working in the reverse mortgage sector.

The newly-launched and revamped wholesale website includes new interactive features including the scenario calculator, which allows users to run different client scenarios to see potential proceeds and eligibility for different products in comparison. The tool can offer a side-by-side comparison of a traditional HECM and several of Longbridge’s proprietary “Platinum” products, including the line of credit and fixed-rate programs. Describing the tool as being designed for “partners of all experience levels,” the calculator aims to offer a glimpse of product options to present to clients.

The website also includes the launch of the “Longbridge Learning Center,” an educational portal for brokers to more quickly bring them up to speed on the specific elements of the reverse mortgage business. Featuring a library of videos, the content is geared toward topics like debunking common reverse mortgage misconceptions, a detailed look at loan processing and an in-depth look at the Platinum product suite.

These are being launched alongside other features including a licensing map, a live turn time tracker, a feed featuring industry news and a redesigned partner portal.

Made for novices and veterans alike

The new training initiatives are designed for people with a wide range of previous reverse experience, from those just entering the business to veterans.

“Our learning center is aimed to support brokers of all levels – ranging from our Reverse Made Easy partners who are just entering the space to our veteran partners who have years’ of experience,” Prieto describes. “The videos featured on the page were created to provide a perspective on common topics we so often hear about in the reverse space that is easily digestible for brokers of all experience levels.”

Ongoing training materials add an additional component to the package, which demonstrates the dedication that Longbridge has to their partners’ success, Prieto says.

“We’re also introducing our Partner Learning Calendar as part of our commitment to deliver the ongoing training and education that our partners need to be successful,” he says. “The training curriculum of these courses will cover the basics of reverse as well as some more advanced topics. Our goal is to provide a course for every experience level and potential need.”

Partners interested in availing themselves of the new materials will be posted to a new monthly training calendar in the Longbridge Partner Portal, Prieto explains.

“Here they will have an at-a-glance look at the webinars and training topics that are on the horizon and can register to attend with just the click of a link,” he says. “Partners can reach out to their Account Executive to learn more.”

Prospective partners are advised to reach out to the company directly.

Longbridge Financial is the eighth-largest reverse mortgage lender in the country, recording 1,250 endorsements for the 12 months ending in August, 2020 according to the most recent data released by Reverse Market Insight (RMI).

The company also stands as the fourth largest issuer of Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) backed by newly-originated HECMs in the industry.

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