GENERATION MORTGAGE COMPANY CFPB Complaints

2000 Latest Complaints

Date Received	Timely Response	Product	Issue	State / Zip	Submitted Via	Tags
05/08/2015	Yes	Mortgage Reverse mortgage	Loan modification,collection,foreclosure	NV XXXXX	Web	Older American
XXXX XXXX, XX/XX/XXXXFEDERAL COMPLAINT I received a Reverse Mortgage held by Generation Mortgage ( GMC ) since XXXX, XXXX, on property at XXXX XXXX XXXX XXXX XXXX, XXXX, MD XXXX. According to my numerous documents, I am supposed to be able to walk away from this transaction ( returning the property back to the mortgage company, " Free and Clear '' if I do everything I am supposed to do in a timely manner, I should be able to walk away with my good name, and good credit without tarnish, in this transition. I am someone who all my adult life, I have been a responsible adult. I have worked very hard all my working life to get here ; in this comfortable place called retirement. It was my understanding, according to the terms of the classed I was required to be certified by HUD, before receiving the Reversed Mortgage, and written documents, I would be able to walk away without judgement. XXXX being, I could have several options, should I decide to leave my home such as financial, medical reasons, before death. I am under the understanding, I could give the property back to the Mortgage Company, " Free and Clear. '' XXXX XXXX, I notified GMC that I would be vacating the premises because of health issued, according to my doctors ' advice, XXXX XXXX, XXXX. On XXXX XXXX, XXXX GMC sent me a certified letter stating, I had several options available to me, XXXX of which I choose to avoid foreclosure on the above mentioned property. " Deed in Lieu '' of foreclosure was the option I choose. Selecting this option avoids foreclosure by allowing the borrower to deed the property back to the investor of the loan at no cost to the borrower. XXXX XXXX, XXXX, I received from GMC, confirmation of my letter requesting Deed in Lieu of Foreclosure. I have been in contact by phone and fax with GMC agents to assure myself that everything was going as plan and on scheduled. I had done everything I need to do to complete the Deed in Lieu, and I can not stress enough free and clear. I could have chosen to sell the property outright, but I was assured by GMC and its agents, that I could choose the " deed in lieu, '' and walk away with no repercussions. If you were to listen to the recorded tapes of our conversations, especially XXXX XXXX XXXX, it has been my only intention, to be free and clear of this property. I have been honest, and true in my intentions with GMC on XXXX XXXX, XXXX, I was notified by GMC the Deed in Lieu has been declined. " The decision was based on XXXX or more of the following factors : XXXX XXXX failure to request the deed in lieu of foreclosure in a timely basis ; * XXXX XXXX failure to provide required information or documentation on a timely basis ; * ( XXXX ) inability to provide title to property which is free of liens or encumbrances. '' None of which I am guilty, I gave all information and documentation in a complete and timely manner. Can U imagine my total despair and desperation, because it was my intention to purchase a home in my new location XXXX XXXX, NV? I began to call GMC to determine the cause of such reversal of action, at which time, I was told it was because GMC made an undetected mistake in the past, thus, they could not complete the process in a timely manner, and therefore the property would be foreclosed without the Deed in Lieu. The deed was free of liens, or I would not have been able to secure the Reverse Mortgage. All of which, is not my fault, I did whatever I was instructed to do according to GMC 's instructions. GMC sent documents to my old address, a week later I received certified mail of the same documents which does not allow me the proper time to straighten out this mess. I have always prided myself, all my adult life for having good credit, and being a responsible person. CONTINUED ... ... ... ..
04/06/2015	Yes	Mortgage Reverse mortgage	Settlement process and costs	OK 73012	Web	Older American
On XX/XX/XXXX, I signed papers for a Reverse Mortgage with Generation Mortgage Company, XXXX XXXX XXXX, XXXX XXXX XXXX, XXXX XXXX, XXXX, GA XXXX. I had been working with their representative via phone and email on this loan for more than XXXX months. She was very helpful and knowledgeable, yet when the closing representative came to my home, he brought incorrect documents for the wrong type of Reverse Mortgage. There were XXXX pages in the paperwork and I inadvertently signed the wrong type of loan. I trusted that Generation Mortgage filled out the right paperwork and I trusted that I should sign where their closing representative told me to sign. Only a few days prior to this I received an email ( which I still have on my computer, showing the representative 's information AND the Generation Mortgage logo and information ) from the Generation Mortgage loan processor listing exactly what dollar amounts I would receive at closing, what that first disbursement would pay off and how much I would be left with AND exactly how much ( plus growth ) I would receive on day 366. When I spoke with a supervisor at Generation Mortgage the end of XX/XX/XXXX, she said that the processor no longer works for them and " unfortunately '' I signed the wrong type of loan ( the difference is in a fixed rate or a flexible rate loan ). She said the word " unfortunate '' so many times that I finally told her " this is WAY more than " unfortunate '' to me! I was never told there were XXXX types of Reverse Mortgage loans and I certainly would not have signed the documents had I been told that if I did sign I would be " forfeiting '' the XXXX half of my money on day 366! I am a widow. I lost my husband of XXXX years four years ago to XXXX XXXX. I was greatly depending upon this money I was to receive on day 366. My husband and I spent all of our money trying to save his life. This Reverse Mortgage money was supposed to sustain my retirement. I should have received nearly {$30000.00} on XX/XX/XXXX. It is now XX/XX/XXXX and I am in dire financial straits, thanks to what I consider to be " bait and switch '' tactics used by Generation Mortgage. In my opinion, Generation Mortgage needs to simply re-do my loan papers, changing them to the type of loan I was led to believe that I was getting at the time. They need to do this immediately and disburse the XXXX half of my money to me right away. I have forwarded the emails from their representative to the supervisor I spoke with and she said, " I see where your confusion is coming from. '' I am NOT confused and I think the emails are very clear. They simply " checked '' the wrong boxes on the paperwork giving me the wrong type of loan.
12/08/2015	Yes	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	CA 92663	Web	Older American
Generation MortgageXXXX XXXX XXXX XXXX XXXX XXXX, GA XXXX : loan # XXXX XXXX XXXX & XXXX : XXXX obtained a jumbo reverse mortgage loan from you on XX/XX/XXXX. There was an underwriting condition for " a set aside of {$26000.00} for one years ' worth of property taxes and insurance plus 10 % '' ( see attached underwriting conditions ). My first installment of property taxes was paid, but my second XXXX was not. As a result of this XXXX XXXX installment not being paid on time I incurred a {$940.00} late penalty. I always pay all my bills on time and never would have allowed this to occur had I not understood that you were going to pay these taxes for the first year. The loan is now sold to XXXX as of XX/XX/XXXX, but you owned this loan when the XXXX XXXX became due in XXXX and also owned it when the taxes became delinquent on XX/XX/XXXX. I was never contacted or notified that you did not pay them, and since you had withheld the funds to pay them and had paid the first XXXX, I fairly assumed that you would use the withheld funds for the purpose that they were withheld and intended for and pay the XXXX XXXX of taxes as well ( or at the very least notify me that you could not for whatever reason ). Because your error of not paying them within the grace period cost me {$940.00} I need to be reimbursed by you for this amount. Please forward me a check in the amount of {$940.00} to reimburse me for your error in causing this burdensome fee. Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX XXXX XXXX ) XXXXXXXXXXXX. I have previously sent this same letter to you in XX/XX/XXXX. I have never received a response from your company. I have also contacted the company you sold this loan to, XXXX and they state that they did not acquire the loan until the tax payment was already late ( which is true ) so the responsibility for this error lies with your company and I insist that you correct it by sending me a check for the amount of the late fee I incurred by your company 's lack of follow through and financial disregard for my account.
11/09/2016	No	Mortgage Other mortgage	Loan modification,collection,foreclosure	IL 60636	Referral

08/08/2016	No	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	NY 11772	Phone	Older American, Servicemember

06/15/2016	No	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	NJ 08270	Postal mail

11/12/2015	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	HI 96821	Web

10/23/2015	Yes	Mortgage Other mortgage	Loan servicing, payments, escrow account	PR 00910	Fax

10/13/2015	Yes	Mortgage Other mortgage	Loan modification,collection,foreclosure	GA 30906	Postal mail	Older American

08/04/2015	Yes	Mortgage Other mortgage	Loan servicing, payments, escrow account		Fax

08/03/2015	Yes	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	PR 00910	Fax

05/20/2015	Yes	Mortgage Reverse mortgage	Loan modification,collection,foreclosure	MD 21117	Web

04/25/2015	Yes	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	DC 20019	Web

02/28/2015	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	NC 27534	Web	Older American

02/26/2015	Yes	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	VT 05468	Web

02/05/2015	Yes	Debt collection Mortgage	Disclosure verification of debt Not given enough info to verify debt	FL 33823	Referral

01/27/2015	Yes	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	PA 19143	Referral	Older American

12/28/2014	Yes	Mortgage Reverse mortgage	Loan modification,collection,foreclosure	OR 97901	Web

12/10/2014	Yes	Mortgage Reverse mortgage	Loan modification,collection,foreclosure	PA 18062	Web	Older American, Servicemember

12/02/2014	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	CA 93065	Web	Older American, Servicemember

11/17/2014	Yes	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	NJ 07601	Web	Older American

11/03/2014	Yes	Consumer Loan Title loan	Payment to acct not credited	CO 80138	Web	Older American, Servicemember

09/25/2014	Yes	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	TX 75234	Referral	Older American, Servicemember

09/12/2014	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	MD 20707	Phone

08/28/2014	Yes	Mortgage Reverse mortgage	Settlement process and costs	UT 84078	Web	Older American

07/30/2014	Yes	Mortgage Reverse mortgage	Settlement process and costs	TX 75013	Web

07/16/2014	Yes	Mortgage Reverse mortgage	Loan modification,collection,foreclosure	MD 20785	Fax

07/03/2014	Yes	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	MI 48382	Fax	Servicemember

07/01/2014	Yes	Mortgage FHA mortgage	Loan servicing, payments, escrow account	PA 15235	Postal mail

05/29/2014	Yes	Mortgage Reverse mortgage	Loan modification,collection,foreclosure	GA 30815	Web

03/19/2014	Yes	Mortgage Home equity loan or line of credit	Loan servicing, payments, escrow account	FL 33445	Referral

01/22/2014	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	SC 29680	Web	Older American, Servicemember

01/14/2014	Yes	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	OR 97068	Web	Older American

01/09/2014	Yes	Mortgage Other mortgage	Loan servicing, payments, escrow account	NJ 08638	Fax

01/06/2014	Yes	Mortgage Reverse mortgage	Loan modification,collection,foreclosure	PA 18249	Web

12/09/2013	Yes	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	CA 93432	Web

10/02/2013	Yes	Money transfers Domestic (US) money transfer	Money was not available when promised	CO 80138	Web	Older American

09/17/2013	Yes	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	AZ 85602	Web	Older American

08/19/2013	Yes	Mortgage Reverse mortgage	Settlement process and costs	VA 20191	Web

08/10/2013	Yes	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	AZ 85138	Web	Older American

08/01/2013	Yes	Mortgage Other mortgage	Loan servicing, payments, escrow account	MD 21215	Referral	Older American

06/25/2013	Yes	Mortgage Other mortgage	Loan servicing, payments, escrow account	VA 23509	Postal mail	Older American

06/15/2013	Yes	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	HI 96734	Web

06/11/2013	Yes	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	NY 11581	Phone	Older American

06/06/2013	Yes	Mortgage Reverse mortgage	Loan modification,collection,foreclosure	PA 19134	Referral	Older American

05/28/2013	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	PA 18062	Web	Older American, Servicemember

05/22/2013	Yes	Mortgage Reverse mortgage	Credit decision / Underwriting	HI 96821	Referral

04/25/2013	Yes	Mortgage Reverse mortgage	Loan modification,collection,foreclosure	AL 36609	Postal mail

04/04/2013	Yes	Mortgage Reverse mortgage	Loan modification,collection,foreclosure	SC 29585	Web

02/08/2013	Yes	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	TX 78209	Phone	Older American

01/14/2013	Yes	Mortgage Reverse mortgage	Loan modification,collection,foreclosure	FL 33101	Referral

12/28/2012	Yes	Mortgage Reverse mortgage	Loan modification,collection,foreclosure	SC 29116	Web

12/18/2012	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	AR 72732	Phone	Older American, Servicemember

10/30/2012	Yes	Mortgage Reverse mortgage	Loan modification,collection,foreclosure	MD 21215	Postal mail

10/17/2012	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	IL 60620	Web	Older American

09/03/2012	Yes	Mortgage Reverse mortgage	Settlement process and costs	CA 93605	Web	Older American

08/22/2012	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	CA 95020	Phone

05/15/2012	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	CA 91344	Web

03/22/2012	No	Mortgage Reverse mortgage	Credit decision / Underwriting	TX 78757	Phone	Servicemember

02/10/2012	No	Mortgage Reverse mortgage	Loan modification,collection,foreclosure	TX 77346	Postal mail

01/25/2012	No	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	PA 17013	Postal mail