LONGBRIDGE FINANCIAL EXPANDS LEADERSHIP TEAM WITH APPOINTMENT OF BILL PACKER AS CHIEF OPERATING OFFICER

Seasoned Executive Brings Over 20 Years of Mortgage Industry Experience Across Technology, Operations, and Product Development

Will Help to Strengthen and Streamline Longbridge's Operations as Company Continues its Growth and Development

MAHWAH, N.J., May 19, 2022 /PRNewswire/ -- Longbridge Financial, LLC ("Longbridge" or the "Company"), an industry-leading national reverse mortgage loan originator and servicer, today announced that Bill Packer, former Chief Operating Officer and Director of American Financial Resources, is joining the firm as Chief Operating Officer, pending regulatory approval.

Pending this approval, Mr. Packer will work closely alongside Longbridge's Chief Revenue and Marketing Officer, Melissa Macerato, and serve as a member of the Company's executive leadership under Chief Executive Officer Christopher Mayer. He will help Longbridge strengthen its technology and streamline its processes, positioning the Company to bring the advantages of reverse mortgages to a fast-growing senior population, while continuing its rapid growth.    

"Bill has a proven track record of innovation and transforming businesses across the mortgage industry to meet the evolving needs of borrowers, partners, and brokers, and we are thrilled to welcome him to the Longbridge team," said Mr. Mayer. "As we continue working to scale our platform and develop new products, we are confident that Bill's wealth of experience and strategic vision will broaden our capabilities, including helping us implement creative solutions to optimize our operations and drive maximum efficiency across all levels of the Company. His deep mortgage experience will also help the Company as we continue to expand our partnerships with traditional mortgage companies looking to add business by offering reverse mortgages to their clientele."

"Given the reverse mortgage industry has not yet realized the full opportunities of technological innovation, I look forward to the tremendous opportunity to modernize processes and programs at Longbridge," added Mr. Packer. "I am pleased to join the Company at this exciting time and help seniors tap more than $12 trillion of home value for a better retirement. I am excited to assist Chris and Melissa in growing the business and supporting their mission of helping retired individuals live the lives they deserve while providing first-class customer service and a responsible approach to the business along the way."

Mr. Packer brings over two decades of operational and strategic mortgage industry experience to Longbridge, including as Chairperson for the Mortgage Bankers Association Residential Technology Committee and Residential/Single Family Board of Governors. At American Financial Resources, he oversaw all operations, technology, project management, product development, facilities and marketing and was instrumental in launching the company's eCASH Home Financing program, a solution that was designed to help homebuyers purchase a home in today's competitive market with the buying power of an all-cash offer. Previously, Mr. Packer served as Senior Vice President and Application Programming Executive at Bank of America, where he supported the first mortgage and home equity businesses, and before that, held other executive leadership positions at the bank. He has served on several advisory boards, including Snapdocs, Flatworld Mortgage Solutions, EllieMae Technology, and the Rutgers University Customer Experience program. Mr. Packer holds a BA in Economics from New York University and an MBA from Hofstra University. He is a certified Project Manager and earned a GIAC Security Essentials certification from the SANS institute.  

The appointment of Mr. Packer follows Ellington Financial's announced acquisition of Longbridge. The transaction, which is expected to close in the second quarter of 2022, will help Longbridge continue to scale its business, operational resources, and customer relationships, all of which have seen tremendous growth and profitability in recent years.

About Longbridge Financial, LLC
Longbridge Financial is a highly rated national reverse mortgage lender and servicer that helps seniors responsibly utilize their hard-earned home equity to improve their retirement and address the financial challenges affecting so many older Americans. Founded in 2012 and led by an Ivy-league professor, Longbridge works every day to expand the reverse mortgage market by educating homeowners about how they can take advantage of this powerful financial instrument. The company is committed to serving its customers with transparency, unparalleled expertise and efficiency, the highest level of personal service, and its industry-leading pricing. For more information about Longbridge Financial, visit www.longbridge-financial.com.

Contacts
Eve Kroepke
[email protected]

Amanda Shpiner/Sara Widmann
Gasthalter & Co.
212-257-4170

SOURCE Longbridge Financial, LLC