“We continue to believe a premium to book is warranted given the stable book value, growing mortgage banking businesses, and dividend coverage. Shares currently trade at 0.97x current book value and a ~12% dividend yield.” “The company also has a relatively stable book value and upside earnings optionality from its mortgage banking business.” Longbridge’s HECM Mortgage-Backed Securities (HMBS) market share hit a new high of 29% for the quarter, making it the No. “We’re actually, in some cases, seeing the prop product take some of that market share away from the government product.”