Longbridge’s Larissa Morrell on the evolution of reverse mortgage products and partnerships

Morrell, a former director of sales logistics and development at Reverse Mortgage Funding, is tasked with leading product development efforts across Longbridge’s technology, operations, compliance and sales teams. She has more than 25 years of industry experience and her promotion follows the company’s recent moves to expand its offerings beyond traditional reverse mortgages.She played a key role in last year’s launch of HELOC for Seniors, which provides additional borrower flexibility through interest-only payments and a funding timeline of as little as five business days.“In speaking with [CEO] Chris Mayer quite some time ago, it was very evident that we had this huge number of borrowers who needed some sort of product to best fit where they were in their retirement planning,” Morrell told HousingWire’s Reverse Mortgage Daily.“Maybe they weren’t ready for a reverse mortgage yet, but they did need to be able to get some equity out of their house. They also didn’t want to go into payment shock after 10 years or so, when they would probably be at the point where they’re retiring, so a traditional HELOC wasn’t right for them.”In the latest installment of the Monday Morning Q&A, M...