Longbridge COO Bill Packer on AI, automation in reverse mortgages

• Longbridge is increasing in-house technology development for reverse mortgages.
• 40% of customers invited to Longbridge's borrower portal opt for it over traditional methods.
• AI deployment has increased reverse mortgage processing productivity by 12%.
• Longbridge's AI chat agent, Bridget, has answered over 76,000 questions since December 2025.
• Longbridge is introducing new products like HELOC for Seniors.

Longbridge Chief Operating Officer Bill Packer outlined the company's strategic focus on integrating artificial intelligence and automation into its reverse mortgage operations. Speaking with HousingWire, Packer detailed a shift towards in-house technology development, emphasizing a customer-centric approach that prioritizes human expertise alongside AI-powered tools.

Packer explained that Longbridge's technology strategy has evolved from relying on external vendors to building capabilities internally. This approach is guided by feedback from business partners, loan officers, and borrowers. The company's borrower portal, currently in beta, has seen significant adoption, with 40% of invited customers choosing it over traditional communication methods.

Regarding AI, Packer stressed that automation is intended to augment, not replace, human employees. He noted that AI-powered agents are handling routine tasks, leading to a 12% increase in processing productivity. This allows employees to focus on more complex transactions and provide personalized customer service. The AI chat agent, Bridget, launched in December 2025, has already answered over 76,000 questions, reducing the workload for underwriters and the structuring desk.

Packer also addressed the historical challenges in reverse mortgage underwriting, which has largely been a manual process. Longbridge's automated underwriting platform, Loanbridge IRIS, aims to bring greater consistency and efficiency to this area. Beyond operational enhancements, Longbridge is also innovating its product offerings, such as the HELOC for Seniors, to meet the evolving financial needs of older homeowners.

Packer views the current technological landscape as an inflection point, comparing the impact of AI to the advent of the internet. He believes that companies embracing technology and product innovation will be best positioned to serve borrowers in the future.