Longbridge Financial has introduced Reverse Analytics Market Platform (RAMP), a free dashboard for mortgage brokers offering insights into Home Equity Conversion Mortgage (HECM) originations. The platform aims to address an "information vacuum" by providing accessible data on market share and origination activity.
The launch of RAMP by Longbridge Financial aims to increase transparency and reduce data costs for reverse mortgage brokers, potentially enabling them to make more informed marketing and sales decisions and better understand their competitive landscape.
Longbridge Financial, a prominent reverse mortgage lender, has launched its Reverse Analytics Market Platform (RAMP). This new, free dashboard tool is designed to provide mortgage brokers with detailed insights into Home Equity Conversion Mortgage (HECM) originations. The platform aims to fill an "information vacuum" by structuring publicly available FHA data into an easily digestible format.
According to Dan Ribler, Longbridge's vice president of capital markets and strategy, RAMP was developed internally over approximately two months. He stated that the platform will serve as a single source of truth, clarifying which companies are originating the most business and in which channels, addressing common industry confusion. Ribler emphasized that the tool is free for approved broker partners, aligning with Longbridge's philosophy of sharing resources to benefit the industry.
Longbridge CEO Chris Mayer highlighted that RAMP enhances transparency and reduces data costs for lenders, enabling partners to make more informed decisions and improve their marketing and sales efforts. The platform's capabilities include viewing HECM originations by specific geographic levels (state, county, ZIP code) and analyzing broker and principal agent activity to determine market share. It also allows for flexible historical data review and categorizes originations into HECM, HECM for Purchase, and HECM-to-HECM refinance types, along with maximum claim amounts.
While public data sources exist, Ribler noted they often have significant lags. Private, more current data sources are available but typically require paid subscriptions. RAMP seeks to overcome these hurdles by offering real-time access to data. The insights gained can be used for targeted advertising, competitive analysis, and fact-checking sales claims of potential employees. Ribler also mentioned that Longbridge uses the data internally to identify partners with excessively high refinance rates, influencing their decision to buy loans from certain originators.