ONE REVERSE MORTGAGE, LLC CFPB Complaints

2000 Latest Complaints

Date Received	Timely Response	Product	Issue	State / Zip	Submitted Via	Tags
06/24/2015	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	OH 44312	Web	Older American
XX/XX/XXXX, I went online to learn about reverse mortgages. Online with XXXX XXXX, I put information in allowing someone to contact me. I had voicemail messages from XXXX XXXX so I called them after work. They do not handle reverse mortgages but they work in collaboration with OneReverseMortgage. I was transferred. XXXX XXXX answered the phone at ORM. I told XXXX that I would like to learn more about the reverse mortgage process, however, earlier in that same day ( XX/XX/XXXX ) I received a call concerning my sister going into the hospital in Georgia - XXXX. We talked for a moment and exchanged phone numbers. XXXX asked me all about our home - the address, amount owed and the current value. I told XXXX I would contact him again in a couple of days after returning from Georgia. Needless to say, XXXX blew up my cell phone over the next 24 hours. I am not sure why since I told him I would call him once my sister was doing better. Once I returned home, I emailed XXXX from work asking him to contact me. He did not. I had to email XXXX several times to get a response. Finally, he responded and told me there was confusion about making the contact on his end. Anyway, we agreed that he, I and my husband would conference call on Wednesday, the XXXX of XXXX to discuss our options with a reverse mortgage. XXXX was to call us at XXXX. We waited and no call so I left a voicemail message around XXXX. He finally called back. He apologized about our appointed time to speak. I asked him about the details of giving him our information and what he had come up with. XXXX had not worked any numbers for us and, in fact, had to ask us our home information all over again. He then went into a discouraging conversation about how the rules of reverse mortgage had changed and it might be possible that we do not qualify at this time.When was he going to disclose this? By the end of our conversation, XXXX XXXX told both my husband and me on the phone that he would " run some numbers '' and email them to me. We waited one week. Tuesday, XXXX XXXX, I emailed XXXX to ask where these numbers were that he told us a week ago that he would send to us? I never received an email response back from XXXX. I contacted XXXX XXXX that evening to express how disappointed I was with the ORM and could they send us to someone else? XXXX XXXX told us they have no control over OneReverseMortgage therefore they could not get involved in this process. They did apologize for all of the problems we were having with XXXX XXXX. Later in the evening, I had a voicemail message from XXXX stating he wanted to talk to me. I immediately tried to return his call and only got his voicemail. I left XXXX a voicemail about my discouragement concerning taking weeks to get a piece of information from him. I also told XXXX that we had spoken to someone from XXXX last year that asked us to get ahold of him XX/XX/XXXX to discuss reverse mortgages ( at the time XX/XX/XXXX we did not qualify ). I told XXXX he did n't have to contact me as we would wait until XX/XX/XXXX and work with this fellow again. To my surprise, as I went to bed last evening, there was another voicemail from XXXX stating that he told us we did not qualify on the phone conversation of XX/XX/XXXX and that he wished me " good luck '' with the fellow from XXXX since there was nothing that could be done. He never told us on XXXX/XXXX/15 we did not qualify. My husband can attest to that fact. I took this as condescension. I, too, am XXXX and it is disheartening to feel like our business is not important to ORM or XXXX XXXX. I want this to be a consumer complaint about the treatment we received from XXXX. I will not work with ORM in the future and will tell others about our experience. XXXX is certainly no professional when it comes to working with people
10/28/2015	Yes	Mortgage Reverse mortgage	Credit decision / Underwriting	MI 49085	Web	Older American
I applied for a reverse mortgage to pay outstanding property taxes and remodel my home which does not currently have a mortgage. My wife and I own XXXX rental house and a building and were told that we had more than enough income for the mortgage. I paid for a inspection but the mortgage did not close because the banker took vacation on the last day that the appraisal was good, although we were told the mortgage was approved. Banker said I could reapply and the mortgage company would pay for the appraisal. The new application was processed in XXXX 2015 and an appraisal was done. The mortgage company required documents, work done on the house and multiple quotes for work to be done. For each requested document the mortgage underwriter responded with suspicion and required the submitting of additional documents. Hippa protected documents were demanded. Underwriter did not believe that extenuating circumstances of unemployment, unusual financial expenses and family members illness had created an issue with real-estate property taxes and federal/state tax issue. I was in fact in the process of clearing up the federal/state tax issue during the mortgage process. The mortgage was not denied because of these factors but the underwriter indicated that a escrow would be required for property tax and property insurance that would be over {$65000.00} which meant that there was not even enough money to pay for work on the house and would only pay for real-estate taxes on our home and outstanding federal/state taxes. All documents requested we submitted and work required we completed, even exceeding Michigan state law. We expected to close the mortgage which we continued in the process because of our desire to get our home real-estate taxes paid. We knew that the inspection expiring was an issue so we brought this up with the contacts from the mortgage company reminding them that deadline was XXXX XXXX, 2015. On that date we were told that the mortgage company did not have a closing planned and the amount needed for the escrow " XXXX '' was so large that their was not enough money to make repairs to the house. I continued to remind them that I had owned real-estate for over forty years and the XXXX was not determined using the overall financial assessment and the extenuating circumstances. The banker told us that preparation to close the loan would have had to have been done 30 days before closing and the underwriter had not allowed that and I was not told. According to the denial letter the reason the mortgage was not closed was : " Unverifiable information '' and " Credit Appl incomplete : Incomplete application documents. '' This reason is false because I submitted all documents requested some two or three times. At no time was I told that any information was unverifiable, but when requested for additional documentation I submitted it. On XXXX XXXX there was no documents that had not been submitted and no additional documentation that was requested and not submitted. From XXXX XXXX, 2015 to XXXX XXXX, 2015 my wife and I spent hundreds of hours and hundreds of dollars when it appears that our application was not fairly assessed nor was I allowed to participate on an even playing field because of my XXXX.
09/28/2015	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	VA 223XX	Web
Following is a copy of a letter ( personal info removed ) I have been trying unsuccessfully to get a response from HUD or some oversight institution : XXXX XXXXTo Whom It May Concern : First, thank you to anyone who may be able to help regarding my issue with HUD and a reverse mortgage application, I believe has been erroneously viewed and considered by One Reverse Mortgage. For more than a month, I have been trying to find a person or department of HUD with oversight over the reverse mortgage program. Return calls from HUD or various sub-offices where I was referred took two weeks to two days. Still it is unclear if and where I may appeal or get better clarification on a specific HUD regulation sited. Please assist or direct me to that exact person who has such authority and expertise. I believe I am totally justified in questioning how One Reverse Mortgage handled my application and the process, which began in XXXX. After more than two months and many man-hours of detailed work related to my case - out of the blue - I was told my condominium building did not qualify, because of some " found '' language allowing for 30-day rentals. Quickly I disputed this fact, forwarding the entire by-laws of our condo association, along with the separate specific excerpt citing that our building did NOT allow for 30-day rentals. " No residential unit shall be rented for transient or hotel purposes or in any event for an initial period of less than six months. '' This language was exactly what was necessary to show that the underwriter was incorrect in assessing my condo building. I still have no idea where that underwriter picked-up that 30-day language in the first place. Nobody would ever provide proof of that. As explained, I sent proof on my part - XX/XX/XXXX - more than one month ago. However, One Reverse Mortgage would not budge and terminated my application " cold ''. No amount of phone conversations or e-mails could sway anyone to re-open my case. I even forwarded the on-line HUD approval list which shows my building as approved until XX/XX/XXXX! There are more details I am happy to provide, but this is a summary of what transpired in the past month ( not including all the various HUD related offices I tried to contact ). I am so disappointed in the entire process. I spent the whole summer focused on securing much needed finances for a beloved project, thinking I was proceeding in the right direction and moving quickly at every step. Now I have nothing to show for my efforts and actually find myself in a worse position than when I began in XXXX. Suspicions are definitely creeping into my thoughts about reverse mortgages and their true worth. Sadly there may be elderly people who need support more than I. At least I am still an active and willing member of the country 's workforce - with the means to pay my taxes and insurance. Please please advise!
06/02/2020	No	Mortgage Reverse mortgage	Closing on a mortgage	FL 32034	Web	Older American
We were advised to get a Reverse Mortgage by One Reverse Mortgage. Funded on XX/XX/XXXX. Original Principal Limit : XXXX one lump sum that we could invest and receive a monthly income. We had no idea how the Current Principal Limit could grow now to be XXXX with monthly interest XXXX plus service fee and MIP compounding monthly. My husband was XXXX and I was XXXX. We were getting married. We had been living together in our home since XXXX. Since my husband added my name to the deed. My name was still in my maiden name. At the time the lender told us I was the non-borrowing spouse and couldn't be on the mortgage because of my age. Then he said, " no worries, '' you can be added to the loan when you turn XXXX! '' So we both signed. Since turning XXXX, we have been attempting to get help with this. We immediately called after my XXXXnd birthday as we knew how important it was. Now we are afraid if something happened to my husband I would have to leave our home I've lived in for the past 15+ years. We feel the lender violated the law during our loan process by telling us this. We never would have signed otherwise. We were not counseled about " risks '' but just options, i.e lump sum or not etc. He was predatory, constantly calling us to do this. Then afterward he was nowhere to be found to question. This reverse mortgage has been through many companies the final now being XXXX XXXX XXXX of whom we have contacted many times. We've tried for six years and now finally wish to get this resolved and behind us as to what will happen. We have called and we have written. ( enclosed ) The original adviser went to California and left Florida where our loan was made in our home. Dates of contacts were XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XXXX XXXX, XX/XX/XXXX plus many more and many telephone calls. We have a very large file of information from years of trying to get help. We were particularly vulnerable I suppose and that's no excuse, but we trusted what the lender told us. I am now XXXX and have XXXX XXXX This would be a terrible hardship for me to leave my home. Reverse Mortgages may help some cases but in ours it has become years of anguish, regret, and constant worry. Be sure to understand if you are not married at the time of signing. They may tell you that you can be added later but it's not true? Beware of being taken advantage of during counseling. Most recent calls were made XX/XX/XXXX 4 times. Someone did call back only leaving their extension but no telephone number. We tried calling back many times but got no response. One Reverse Mortgage, XXXX XXXX XXXX, XXXX XXXX, and XXXX XXXX XXXX.
09/30/2021	No	Mortgage Reverse mortgage	Struggling to pay mortgage	TX 78214	Web	Servicemember
My father took out a loan in XXXX thru one Reverse Mortgage , LLC. In order to be approved they sent a real estate inspector to examine the home, and he made his recommendations. He made us a list of structural repairs to be completed by a set date. I made the repairs myself with a request to or more time and they agreed, plus, it was specified that said repairs had to be done by a licensed contractor. We got it done on time and proper and the last inspection was done. A different inspector came ( also a man ) he does a quick walk through and I had left a ladder set up with the access way to the attic in plain sight. He said he didn't need to physically go up into the attic. As he is leaving I requested his assurance that we had succeeded in passing the listed repairs. He turned to me and said, " I'm not going to pass this house. '' And I responded, " why not if we completed the repairs on the list? '' And without missing a beat, he answered, " because I saw that you missed a patch of bad shingles, and I saw water damage to the roof ( plywood ). '' The whole point of the inspection was to grant the full amount of the loan or just half. My father said he tried getting an equity loan but that gave him some kind of trumped up reason on why he didn't qualify and then offered him, in total XXXX cash. After we did the repairs the first try ( that is my hands ) they released XXXX by check and after the last they sent the rest. We expected another XXXX XXXX and change but received only XXXX ... ... which I used by cashing it at XXXX XXXX XXXX and then crossing XXXX XXXX to buy groceries at XXXX # XXXX. They railroaded my father and three days after I buried my father on XX/XX/XXXX I received three packets in the mail. Each with a error in the address and each identical. It opened like this, '' this is not a bill. This is a reminder, you have thirty days to pay original loan amount in full or your home will be foreclosed on, {$58000.00}, and then the pandemic hit us so fiercely that the CDC issued the no eviction memorandum and now it's no more and me and my XXXX youngest children are about to be put out on the street amid an even more deadly variant than the original co-vid 19 virus. Please, stop these reverse mortgages from being served because when the old are left with no one to fend for them I know they are mistreated. I am living proof.
08/07/2023	No	Mortgage Reverse mortgage	Applying for a mortgage or refinancing an existing mortgage	GA 30314	Web
On XX/XX/XXXX, One Reverse Mortgage LLC, XXXX XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, CA XXXX gave my sister a reverse mortgage of {$30000.00} on the family home that I owned. I had given my sister a life estate in XXXX and allowed her to occupy the property until her death because she had no place to live. The life estate provision was spelled out in the 1st paragraph of the Deed. Upon my sister 's death in XX/XX/XXXX, I discovered that she had obtained the reverse mortgage without my consent. As per HUD 's LIFE ESTATE PROVISIONS rule from HUD XXXX related to XXXX, if an eligible mortgagor holds only a life estate when the mortgage is executed, all holders of any future interest in the property ( remainder or reversion ) will also be required to execute the mortgage to ensure that the mortgage is secured by a fee simple interest. My understanding of the HUD requirement is that she SHOULD NOT have been permitted to obtain a loan without my signature or consent and that I should have participated in the counseling process, neither of which occurred. Therefore, this loan was made illegally. The loan was transferred to XXXX XXXXXXXX XXXX XXXX, and I had to pay them over {$20000.00} to reclaim my property as my sister had become ill before she passed and had not paid the homeowners insurance which caused the house to head to foreclosure which I discovered when I attempted to transfer the house back into my name. Per XXXX, the original lender is no longer in business and was acquired by XXXX XXXX XXXX and XXXX XXXX XXXX XXXX. I was unable to discuss the loan with anyone at XXXX XXXX XXXX because my niece ( my sister 's daughter ) was the administrator of her estate. However, the company did accept the funds I sent to get the house back and released the lien. It's my belief, that I should not have been liable for paying back a loan that was illegally made. I had to get a personal loan to pay the balance due and recently did a quick sale on the house to get money to pay back the personal loan. I contacted FHA about this issue to clarify my understanding of HUD XXXX but kept getting bounced around.
06/20/2018	Yes	Mortgage FHA mortgage	Trouble during payment process	CT 06513	Web
I originally was going to complete a reverse mortgage on my property but after it was appraised the numbers and information that was disclosed to me wee changed due to the where the value came in opposed to what was assumed by the lender. ONEREVERSE Mortgage a XXXX XXXX company advised me they would reduce my appraisal cost to {$99.00}. When I realized what was being offered regarding the reverse mortgage and that it would not be in my best interest I decided to shop around for a cash out refinance which worked more favorably for me so when time to transfer the FHA CASE NUMBER XXXX was requested from the new lender, the case number was transferred but not the appraisal that was to be attached. I spoke with Onereverse and was advised that the {$99.00} would not be Honored because I went elsewhere and that I would need to pay {$650.00} minus the {$99.00} but somehow was emailed a total of {$550.00}. When I called to pay the {$550.00} they attempted to get me to pay {$650.00} even with evidence of the amount I was quoted. I believe there Is something going on with this bank where they are defrauding elderly people like myself and trying to get money out of them. The price I should be paying for this appraisal is the {$99.00} and not be penalized because I chose to go to another lender who had a better program within my best interest. These are FHA mortgages so banks can't make up their own rules as they go.
11/20/2015	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	NV 890XX	Web	Older American
I applied for a reverse mortgage through One Reverse Mortgage ( " XXXX '' ). Shortly after I submitted my personal information to XXXX at their office in XXXX XXXX, California, I received noticed that my personal information, including my Social Security number had been breached, and someone in the XXXX XXXX area attempted to use this information to obtain over XXXX lines of credit. I believe One was negligent in its obligation to maintain the security of my personal information and that a member of the processing team allowed this information to be used by a friend or relative to attempt to obtain these lines of credit. The person went so far as to attempt a change of address with the United States Postal Service. This breach caused great anxiety and stress, with many sleepless nights for me, just waiting for another issue to arise.
06/22/2017	Yes	Debt collection Mortgage debt	Took or threatened to take negative or legal action Seized or attempted to seize your property	FL 327XX	Web
XXXX XXXX XXXX XXXX XXXX XXXX XXXX , XXXX XXXX XXXX . TX XXXX PURSUANT TO YOUR LETTER DATED XXXX XXXX XXXX IN WHICH YOU FINALLY ADMIT YOU ARE A DEBT COLLECTION ACGENCY TRYING TO COLLECT A DEBT, THIS MATTER HAS BEEN FINALLY CLEARED UP, ALTHOUGH IT BY NOT MEANS RESOLVED. XXXX WHAT YOU HAVE DONE TO ME F OR TWO ( 2 ) YEARS HAS BEEN ILLEGAL. SEE ATTACHED. I WILL ADDRESS RESOLUTIONS LATER IN FUTURE COMPLAINTS AND IN FEDERAL, STATE AND PRIVATE LITIGATION. XXXX THERE IS/WAS NO REVERSE MORTGAGE FROM " ONE REVERSE MORTGAGE , LLC ''.
06/13/2023	No	Mortgage Reverse mortgage	Applying for a mortgage or refinancing an existing mortgage	FL 32605	Web	Older American

03/21/2022	No	Mortgage Reverse mortgage	Applying for a mortgage or refinancing an existing mortgage	FL 32605	Web	Older American

01/14/2020	No	Mortgage Reverse mortgage	Closing on a mortgage	SC 29360	Phone	Older American

08/20/2019	No	Mortgage FHA mortgage	Closing on a mortgage	CA 95831	Web	Older American

03/08/2019	Yes	Mortgage Reverse mortgage	Trouble during payment process	NY 10312	Referral

10/17/2018	Yes	Mortgage Reverse mortgage	Applying for a mortgage or refinancing an existing mortgage	PA 19606	Postal mail	Older American

10/20/2017	Yes	Mortgage Reverse mortgage	Trouble during payment process		Postal mail

04/10/2017	No	Mortgage Other mortgage	Loan modification,collection,foreclosure	NJ 08832	Phone	Older American

02/14/2017	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	MA 02277	Phone	Older American

12/09/2016	Yes	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	LA 70714	Phone	Older American, Servicemember

04/18/2016	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	CO 80221	Web	Older American

04/18/2016	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	FL 33444	Postal mail

02/03/2016	Yes	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	MI 48146	Phone	Older American

12/19/2015	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	TX 77703	Web

12/15/2015	Yes	Mortgage Other mortgage	Loan servicing, payments, escrow account	ME 04104	Referral

09/04/2015	Yes	Mortgage Reverse mortgage	Loan modification,collection,foreclosure	CA 94118	Web

06/09/2015	Yes	Mortgage Reverse mortgage	Settlement process and costs	FL 33712	Web

04/07/2015	Yes	Mortgage Reverse mortgage	Loan servicing, payments, escrow account	WI 53925	Postal mail	Older American

08/28/2014	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	NV 89511	Web	Older American

07/03/2014	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	LA 70806	Referral	Older American, Servicemember

12/20/2013	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	CA 94549	Web	Older American

09/13/2013	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	CA 95202	Postal mail

09/07/2013	Yes	Mortgage FHA mortgage	Loan modification,collection,foreclosure	NY 12572	Postal mail

08/02/2013	Yes	Mortgage Other mortgage	Application, originator, mortgage broker	UT 84414	Web	Servicemember

05/22/2013	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	MI 49120	Web	Older American

04/05/2013	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	KY 40511	Web	Older American

01/30/2013	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	TN 38363	Web	Older American

01/16/2013	Yes	Mortgage Other mortgage	Settlement process and costs	FL 33101	Web

01/09/2013	Yes	Mortgage Reverse mortgage	Application, originator, mortgage broker	MT 59711	Postal mail	Older American

11/02/2012	Yes	Mortgage Reverse mortgage	Settlement process and costs	MS 39503	Web

10/23/2012	Yes	Mortgage Home equity loan or line of credit	Application, originator, mortgage broker	TX 75216	Referral