One Reverse Mortgage LLC

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution would be satisfactory to me As long the business holds true to their response letter and has no further contact with my father, I will consider this complaint resolved Regards, [redacted]

To Whom it May Concern:Thank you for giving One Reverse Mortgage the opportunity to respond to Mr [redacted] 's concernsWe regret that Mr [redacted] is displeased with his experience.We began working with Mr [redacted] and his wife on June 1, 2016, when they spoke with Mortgage Bankers [redacted] and [redacted] about reverse mortgage financing [redacted] and [redacted] gathered preliminary qualifying information from the [redacted] s regarding their income, assets and property and also reviewed a joint credit reportMr [redacted] estimated the current value of his home to be approximately $350,000.Mrand Mrs [redacted] 's joint credit report indicated they had several collection accounts and two delinquent credit card accountsMrand Mrs [redacted] informed [redacted] that a family member had used the credit cards without permission [redacted] explained that the [redacted] s would need to file disputes for those accounts and that we would order a Credit Supplement to verify their dispute status prior to closing, to which Mrand Mrs [redacted] agreedBased on an initial review of the information provided, Mrand Mrs [redacted] appeared to meet guidelines for a reverse mortgage with an estimated line of credit amount of approximately $171,We received Mrand Mrs [redacted] 's completed application package on June 16, 2016.As part of the underwriting process for reverse mortgages, we must complete a financial assessment that takes into account our client's willingness and capacity to meet his or her financial obligationsFor this reason, we requested that Mrand Mrs [redacted] provide letters of explanation for the delinquent and collection accounts as part of their application package, which we received on June After a review of the letters of explanation, we requested that Mrand Mrs [redacted] provide more detail on their plans for resolving the derogatory items on their credit as well as provide documentation for any hardship causing the missed paymentsWe received an updated letter of explanation on June 28, indicating that the [redacted] s intended to work with their attorney to negotiate settlements after closing rather than dispute the charges as initially discussed with ***Unfortunately, based on their credit history, Mrand Mrs [redacted] did not meet the guidelines for willingness and capacity.If a client does not meet willingness and/or capacity, we may still be able to provide financing in some casesIf the client has significant equity in the home, we can utilize the Life Expectancy Set-Aside (LESA) whereby the mortgagee (One Reverse Mortgage) will use the client's reverse mortgage proceeds to pay property taxes and insurance premiums on their behalfWe calculated that approximately $113,would be required to be deducted from the [redacted] 's loan proceeds for the LESA [redacted] contacted Mr [redacted] on June to explain the LESA requirement and inform him that the updated loan proceeds were estimated at $64,Mr [redacted] agreed to the new terms.When we received Mrand Mrs [redacted] 's appraisal, it indicated a value of $294,The lower value caused the [redacted] s' loan proceeds to be reduced again to approximately $29,On August 1, Mr [redacted] informed [redacted] he no longer wished to proceed with financing with One Reverse Mortgage and his loan was denied accordingly on August 4, 2016.To initiate the loan process, Mr [redacted] provided us with a $depositAs explained in the Deposit Agreement/Advance Fee Agreement signed by the [redacted] s on June 9, if their loan was denied or withdrawn for any reason, their deposit was would be refunded less the costs of the appraisalSince the appraisal cost $475, there were no funds to automatically refundWhile Mr [redacted] 's complaint indicates that we collected $475, this is not accurate.We share in Mr [redacted] 's disappointment that we were unable to close his loanWhile we acknowledge that Mr [redacted] has requested a refund of the deposit, we do not agree that a full refund is warrantedWe could not have anticipated that a LESA would be required without underwriting the loan, or anticipated that Mrand Mrs [redacted] 's home would appraise for less than they estimated at application.If Mr [redacted] has any additional questions, he is welcomed to contact me directly.Respectfully, [redacted] ***Executive OfficeOne Reverse Mortgage [redacted]

They are easy to work with and fast in getting done with your wishes Answers all questions you give them I really like working with One Reverse Mortgage

To Whom It May Concern: We are in receipt of Mrs. [redacted] ’s complaint and have completed our research. Please see the attached response. If questions remain, please contact the undersigned. [redacted] To Whom It May Concern:Thank you for giving One Reverse Mortgage the... opportunity to respond to Mrs. [redacted] 's concerns. We regret that Mrs. [redacted] is displeased with her experience.We began working with Mrs. [redacted] 's mother, [redacted] ***, on September 11, 2015 when she inquired about reverse mortgage financing. Before we could accept Ms. ***'s reverse loan (also known as a Home Equity Conversion Mortgage, or HECM) application, she was required to attend reverse mortgage counseling. This counseling verifies our client's understanding of reverse mortgage concepts. According to the Certificate of HECM Counseling, Ms. [redacted] attended counseling with [redacted] ***. on September 25, 2015. The certificate was signed by Ms. [redacted] and Counselor [redacted] .After reviewing her loan options with Mortgage Banker [redacted] ***, a detailed loan application package was provided for Ms. ***'s review and signature. We received Ms. ***'s signed application package on October 1, 2015.On October 12, Mrs. [redacted] contacted Mortgage Banker [redacted] and indicated that she was advising Ms. [redacted] not to proceed with the reverse mortgage. [redacted] contacted Ms. [redacted] and Mrs. [redacted] on October 26. Mrs. [redacted] indicated she wanted to be involved in all conversations and decisions regarding the loan process moving forward. [redacted] advised that Mrs. [redacted] would need to provide documentation of Power of Attorney over Ms. [redacted] in order for Mrs. [redacted] to make decisions regarding the loan application. We received the Durable Financial Power of Attorney on October 31.Prior to receiving the Power of Attorney, team member [redacted] contacted Ms. [redacted] on October 29 to update her on the loan process and review additional documents needed. Ms. [redacted] agreed to provide the requested documents and a UPS envelope was sent to her for returning the documents. However, [redacted] was unaware that Mrs. [redacted] requested to be contacted as well. We sincerely regret this oversight.On October 30 and October 31, Ms. [redacted] emailed [redacted] indicating Ms. [redacted] would not be proceeding with financing. Director of Mortgage Banking [redacted] attempted to contact Ms. [redacted] on November 2 in regard to her request, but was unable to reach her directly. Mrs. [redacted] contacted Mortgage Banker [redacted] on November 2. Matt explained we would review the file and contact Mrs. [redacted] the following day regarding her request to close the application. Senior Director of Mortgage Banking [redacted] contacted Mrs. [redacted] on November 3 and indicated we would confirm with Ms. [redacted] directly that she no longer wanted to proceed, prior to denying or withdrawing the loan. [redacted] attempted to contact Ms. [redacted] and Ms. [redacted] on November 4, but was unable to reach them directly. On November 4, Ms. [redacted] contacted our Client Relations team for confirmation that the loan application had been closed. Client Advocate [redacted] contacted Ms. [redacted] and confirmed she no longer wanted to proceed with financing. Ms. ***'s loan was denied accordingly on November 4, 2015 due to “incomplete application documents."Since we have received Ms. [redacted] 's complaint indicating that Ms. [redacted] does not want to be contacted further, Ms. [redacted] has been opted out of all communication with One Reverse Mortgage. She will not receive any further phone calls, emails or other correspondence from us – unless she opts into our services again or applies through one of our lead buy providers. Although we have opted Ms. [redacted] out of our direct mailing campaign as well, it may take up to 45 days for this to take full effect.We trust that this letter has answered any concerns that Ms. [redacted] may have. If there are any additional questions, Ms. [redacted] is welcome to contact me directly.Respectfully, [redacted] One Reverse Mortgage [redacted] ext, [redacted]

Please see our attached response.To Whom It May Concern:Thank you for giving Quicken Loans the opportunity to respond to Mr. [redacted] 's recent correspondence with your office. At Quicken Loans, we take great pride in our company culture--a culture that is built on a set of core values we call ISMs.... One such ISM is "every client, every time, no exceptions, no excuses." That particular ISM is manifested in everything we do, including in our thorough review and response to all inquiries, issues, and complaints brought to our attention. We sincerely regret any dissatisfaction Mr. [redacted] experienced with us, and have taken affirmative steps to resolve his concerns.We began working with Mr. [redacted] on September 26, 2016 when Mr. [redacted] contacted Quicken Loans regarding refinance options. Mortgage Banker Noah Doran gathered information from Mr. [redacted] regarding his goals in refinancing. Mr. [redacted] advised that he was looking to take approximately $100,000 cash out from the equity present in his home but hoped to avoid making a monthly mortgage payment. Because Mr. [redacted] 's goals were best met through a Home Equity Conversion Mortgage ("HECM"), commonly referred to as a reverse mortgage, Noah referred Mr. [redacted] to our sister company, One Reverse Mortgage (ORM), to review available HECM options.The HECM program is insured by the U.S. Federal Government. The Federal Housing Administration (FHA) insures these loans which enable homeowners age 62 and older to access some of the equity in their home as tax-free money. However, the program has limits to the percentage of equity a homeowner may draw upon, so that the homeowner retains Some equity in his home. Just like with any other mortgage, with a HECM, the homeowner remains on title and still owns his home. The loan generally becomes due and payable if the homeowner (or an eligible non-borrowing spouse during a deferral period) move, sell the property or pass away.During his conversation with Mortgage Banker [redacted] ***, Mr. [redacted] indicated that his home was worth $180,000 and agreed that [redacted] should use this value when qualifying him and quoting terms. As indicated within the application package mailed to Mr. [redacted] on October 3, Mr. [redacted] 's line of credit for the life of his loan was $124,151, with an initial disbursement of $78,812 and $53,208 in reserve funds available after the first year. The principal limit Mr. [redacted] references in his letter represents hisline of credit plus the mandatory obligations ($8,869) due at closing.On October 15, 2016, [redacted] placed a follow-up call to Mr. [redacted] and spoke with his son, [redacted] . [redacted] advised that Mr. [redacted] was no longer interested in a reverse mortgage. [redacted] noted Mr. [redacted] 's preference and opted Mr. [redacted] out of future contact.One Reverse Mortgage is an Equal Housing Lender and does not discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you meet the age requirements of the HECM program), because all or part of our client's income may be derived from any public assistance program, or because our client has, in good faith, exercised any right under the Consumer Credit Protection Act.At ORM, we are committed to the needs of our clients whenever possible. Our goal in calling Mr. [redacted] was to communicate what loan programs would benefit him and to earn his business. We regret that our calls were unwelcome and thank Mr. [redacted] and his son for their feedback. Whenever we leave someone dissatisfied to the point they are filing a formal complaint, it is greatly concerning to us. As of October 18, 2016, we have verified that Mr. [redacted] has been opted out of future emails and phone calls with Quicken Loans and One Reverse Mortgage. We will only contact him again if he opts into our services by applying directly on our website or through one of our lead providers.We trust that our response has addressed any concerns Mr. [redacted] or his son may have. However, should they have any additional questions, they are welcomed to contact me directly.Respectfully, [redacted] Executive Office One Reverse Mortgage [redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved
Please note, however, that I had to call and email daily to get resulution The loan officer, *** ***, has yet to reply to ANY of my voice or emails In addition, his lack of professionalism was astounding if not downright harassing in nature Again, while I accept the resolution, I feel that Mr*** was rude and unprofessional as he continued to pressure my mother even after she told him personally to deal with me and to close the application I can only assume that he was so angry because I became involved and saw through his scam Perhaps the product itself is not 100% a scam but it is definitely not right for all and he was trying to pressure my mother into something AFTER she told him no Thank you. Regards,
*** ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution would be satisfactory to me. As long the business holds true to their response letter and has no further contact with my father, I will consider this complaint resolved
Regards,
*** *** ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved
Please note, however, that I had to call and email daily to get resulution The loan officer, *** ***, has yet to reply to ANY of my voice or emails In addition, his lack of professionalism was astounding if not downright harassing in nature
Again, while I accept the resolution, I feel that Mr*** was rude and unprofessional as he continued to pressure my mother even after she told him personally to deal with me and to close the application I can only assume that he was so angry because I became involved and saw through his scam Perhaps the product itself is not 100% a scam but it is definitely not right for all and he was trying to pressure my mother into something AFTER she told him no
Thank you
Regards,
*** ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
Regards,
*** ***
One Reverse still has not filed lien releases with the county of *** They to this day the county shows two liens on my property

Please see our attached responseTo Whom It May Concern:
Thank you for giving Quicken Loans the opportunity to respond to Mr***'s recent correspondence with your officeAt Quicken Loans, we take great pride in our company culture--a culture that is built on a set of core
values we call ISMsOne such ISM is "every client, every time, no exceptions, no excuses." That particular ISM is manifested in everything we do, including in our thorough review and response to all inquiries, issues, and complaints brought to our attentionWe sincerely regret any dissatisfaction Mr*** experienced with us, and have taken affirmative steps to resolve his concerns.We began working with Mr*** on September 26, when Mr*** contacted Quicken Loans regarding refinance optionsMortgage Banker Noah Doran gathered information from Mr*** regarding his goals in refinancingMr*** advised that he was looking to take approximately $100,cash out from the equity present in his home but hoped to avoid making a monthly mortgage paymentBecause Mr***'s goals were best met through a Home Equity Conversion Mortgage ("HECM"), commonly referred to as a reverse mortgage, Noah referred Mr*** to our sister company, One Reverse Mortgage (ORM), to review available HECM optionsThe HECM program is insured by the U.SFederal GovernmentThe Federal Housing Administration (FHA) insures these loans which enable homeowners age and older to access some of the equity in their home as tax-free moneyHowever, the program has limits to the percentage of equity a homeowner may draw upon, so that the homeowner retains Some equity in his homeJust like with any other mortgage, with a HECM, the homeowner remains on title and still owns his homeThe loan generally becomes due and payable if the homeowner (or an eligible non-borrowing spouse during a deferral period) move, sell the property or pass awayDuring his conversation with Mortgage Banker *** ***, Mr*** indicated that his home was worth $180,and agreed that *** should use this value when qualifying him and quoting termsAs indicated within the application package mailed to Mr*** on October 3, Mr***'s line of credit for the life of his loan was $124,151, with an initial disbursement of $78,and $53,in reserve funds available after the first yearThe principal limit Mr*** references in his letter represents hisline of credit plus the mandatory obligations ($8,869) due at closingOn October 15, 2016, *** placed a follcall to Mr*** and spoke with his son, *** *** advised that Mr*** was no longer interested in a reverse mortgage*** noted Mr***'s preference and opted Mr*** out of future contactOne Reverse Mortgage is an Equal Housing Lender and does not discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you meet the age requirements of the HECM program), because all or part of our client's income may be derived from any public assistance program, or because our client has, in good faith, exercised any right under the Consumer Credit Protection ActAt ORM, we are committed to the needs of our clients whenever possibleOur goal in calling Mr*** was to communicate what loan programs would benefit him and to earn his businessWe regret that our calls were unwelcome and thank Mr*** and his son for their feedbackWhenever we leave someone dissatisfied to the point they are filing a formal complaint, it is greatly concerning to usAs of October 18, 2016, we have verified that Mr*** has been opted out of future emails and phone calls with Quicken Loans and One Reverse MortgageWe will only contact him again if he opts into our services by applying directly on our website or through one of our lead providersWe trust that our response has addressed any concerns Mr*** or his son may haveHowever, should they have any additional questions, they are welcomed to contact me directlyRespectfully,
*** ***
Executive Office
One Reverse Mortgage
***

My experience was not pleasant or beneficial It was however costly, time consuming and frustrating After paying for an appraisal and a consultation I was asked more than four times to submit a different letter as to why my husband filed for bankruptcy This seems redundant After almost three months and I actually told them I could stand no more they sent me a denial letter saying I didn't have enough to close I had the same amount that I started with and still do not understand I owe 50,on a house appraised for over three times that much I was told rules changed last April They apparently did not change in our favor

To Whom it May Concern:Thank you for giving One Reverse Mortgage the opportunity to respond to Mr. [redacted]'s concerns. We regret that Mr. [redacted] is displeased with his experience.We began working with Mr. [redacted] and his wife on June 1, 2016, when they spoke with Mortgage Bankers [redacted] and...

[redacted] about reverse mortgage financing. [redacted] and [redacted] gathered preliminary qualifying information from the [redacted]s regarding their income, assets and property and also reviewed a joint credit report. Mr. [redacted] estimated the current value of his home to be approximately $350,000.Mr. and Mrs. [redacted]'s joint credit report indicated they had several collection accounts and two delinquent credit card accounts. Mr. and Mrs. [redacted] informed [redacted] that a family member had used the credit cards without permission. [redacted] explained that the [redacted]s would need to file disputes for those accounts and that we would order a Credit Supplement to verify their dispute status prior to closing, to which Mr. and Mrs. [redacted] agreed. Based on an initial review of the information provided, Mr. and Mrs. [redacted] appeared to meet guidelines for a reverse mortgage with an estimated line of credit amount of approximately $171,902.50. We received Mr. and Mrs. [redacted]'s completed application package on June 16, 2016.As part of the underwriting process for reverse mortgages, we must complete a financial assessment that takes into account our client's willingness and capacity to meet his or her financial obligations. For this reason, we requested that Mr. and Mrs. [redacted] provide letters of explanation for the delinquent and collection accounts as part of their application package, which we received on June 14. After a review of the letters of explanation, we requested that Mr. and Mrs. [redacted] provide more detail on their plans for resolving the derogatory items on their credit as well as provide documentation for any hardship causing the missed payments. We received an updated letter of explanation on June 28, indicating that the [redacted]s intended to work with their attorney to negotiate settlements after closing rather than dispute the charges as initially discussed with [redacted]. Unfortunately, based on their credit history, Mr. and Mrs. [redacted] did not meet the guidelines for willingness and capacity.If a client does not meet willingness and/or capacity, we may still be able to provide financing in some cases. If the client has significant equity in the home, we can utilize the Life Expectancy Set-Aside (LESA) whereby the mortgagee (One Reverse Mortgage) will use the client's reverse mortgage proceeds to pay property taxes and insurance premiums on their behalf. We calculated that approximately $113,000 would be required to be deducted from the [redacted]'s loan proceeds for the LESA. [redacted] contacted Mr. [redacted] on June 30 to explain the LESA requirement and inform him that the updated loan proceeds were estimated at $64,154. Mr. [redacted] agreed to the new terms.When we received Mr. and Mrs. [redacted]'s appraisal, it indicated a value of $294,500. The lower value caused the [redacted]s' loan proceeds to be reduced again to approximately $29,675. On August 1, Mr. [redacted] informed [redacted] he no longer wished to proceed with financing with One Reverse Mortgage and his loan was denied accordingly on August 4, 2016.To initiate the loan process, Mr. [redacted] provided us with a $350 deposit. As explained in the Deposit Agreement/Advance Fee Agreement signed by the [redacted]s on June 9, if their loan was denied or withdrawn for any reason, their deposit was would be refunded less the costs of the appraisal. Since the appraisal cost $475, there were no funds to automatically refund. While Mr. [redacted]'s complaint indicates that we collected $475, this is not accurate.We share in Mr. [redacted]'s disappointment that we were unable to close his loan. While we acknowledge that Mr. [redacted] has requested a refund of the deposit, we do not agree that a full refund is warranted. We could not have anticipated that a LESA would be required without underwriting the loan, or anticipated that Mr. and Mrs. [redacted]'s home would appraise for less than they estimated at application.If Mr. [redacted] has any additional questions, he is welcomed to contact me directly.Respectfully,[redacted]Executive OfficeOne Reverse Mortgage[redacted]

To Whom It May Concern:
5pt;">Thank you for giving One Reverse Mortgage the opportunity to respond to Mr. [redacted]s concerns. We regret that Mr. [redacted] is displeased with his experience.
We began working with Mr. [redacted] and his wife in April 2016, when he inquired about reverse mortgage financing. After reviewing Mr. and Mrs. [redacted]s loan options, a detailed loan application package was provided for their review and signature. We received the [redacted]s' completed package on April 21, 2016.
Mr. and Mrs. [redacted]s credit report indicated that two judgments were filed against them, by [redacted] in July 2013 and by [redacted] in December 2013. When we received the [redacted]s’ title search, it confirmed that the judgments were recorded as liens on title. Because our underwriting guidelines require that any judgments recorded as a lien on title on a credit report be paid in full prior to or at closing, we requested payoff documentation for each account. We received a payoff statement from [redacted], on May 12, indicating a payoff amount of $7,171.08 due to [redacted]. The document stated:
“Upon receipt of the amount demanded above, we will send the judgment debtor an Acknowledgment of Satisfaction of Judgment to record.”
On May 13, we received a payoff statement from [redacted] for the account with [redacted]. The statement indicated a payoff amount of $6,578.68 and stated:
“We will file the Acknowledgment of Satisfaction of Judgment once the funds have been remitted as directed.”
Mr. and Mrs. [redacted]s loan entered final underwriter review on May 13, 2016. On that date, Client Care Specialist [redacted] contacted Mr. [redacted] to review the loan figures and advise that a member of our Closing Team would be contacting him once the final review was complete. Mr. [redacted] requested that the closing documents be delivered to him the following day. [redacted] indicated she would request that the closing package be sent overnight after our Closing Team spoke with him to review final figures and schedule the closing; however, [redacted] advised they may not be able to contact him that day.
Closing Care Representative [redacted] contacted Mr. [redacted] on May 16 to review final figures and schedule the closing. Once the final figures were acknowledged by Mr. [redacted], the closing documents were sent via UPS on May 17 and delivered on May 18 prior to the closing. Included with the closing package was a Closing and Disbursement Instructions document, instructing Mr. and Mrs. [redacted] to contact our Closing Hotline with any questions during the closing. Mr. and Mrs. [redacted] proceeded with signing the closing documents on May 18, 2016.
After the [redacted]s' loan closed, a check to [redacted] in the amount of $7,171.08 and a wire to [redacted] in the amount of $6,578.68 were disbursed on May 23, 2016. Because One Reverse Mortgage does not hold the liens in question, we do not file the Satisfaction documents to release them. We apologize for any confusion this may have caused Mr. and Mrs. [redacted].
It is always concerning to us when a client feels it necessary to file a formal complaint. We take pride in ensuring our client's best interests come before anything else. That's why it is particularly concerning to us that Mr. [redacted]s experience did not meet his expectations. We thank Mr. [redacted] for his feedback and appreciate him giving us the opportunity to provide him with financing.
If there are additional questions, Mr. [redacted] is welcomed to contact me directly.
Respectfully,
[redacted]
Resolution Correspondent
One Reverse Mortgage
[redacted] ext. [redacted]
[redacted]

To Whom It May Concern:
We are in receipt of Mrs. [redacted]’s complaint and have completed our research. Please see the attached response. If questions remain, please contact the undersigned.
[redacted]To Whom It May Concern:Thank you for giving One Reverse Mortgage the...

opportunity to respond to Mrs. [redacted]'s concerns. We regret that Mrs. [redacted] is displeased with her experience.We began working with Mrs. [redacted]'s mother, [redacted], on September 11, 2015 when she inquired about reverse mortgage financing. Before we could accept Ms. [redacted]'s reverse loan (also known as a Home Equity Conversion Mortgage, or HECM) application, she was required to attend reverse mortgage counseling. This counseling verifies our client's understanding of reverse mortgage concepts. According to the Certificate of HECM Counseling, Ms. [redacted] attended counseling with [redacted]. on September 25, 2015. The certificate was signed by Ms. [redacted] and Counselor [redacted].After reviewing her loan options with Mortgage Banker [redacted], a detailed loan application package was provided for Ms. [redacted]'s review and signature. We received Ms. [redacted]'s signed application package on October 1, 2015.On October 12, Mrs. [redacted] contacted Mortgage Banker [redacted] and indicated that she was advising Ms. [redacted] not to proceed with the reverse mortgage. [redacted] contacted Ms. [redacted] and Mrs. [redacted] on October 26. Mrs. [redacted] indicated she wanted to be involved in all conversations and decisions regarding the loan process moving forward. [redacted] advised that Mrs. [redacted] would need to provide documentation of Power of Attorney over Ms. [redacted] in order for Mrs. [redacted] to make decisions regarding the loan application. We received the Durable Financial Power of Attorney on October 31.Prior to receiving the Power of Attorney, team member [redacted] contacted Ms. [redacted] on October 29 to update her on the loan process and review additional documents needed. Ms. [redacted] agreed to provide the requested documents and a UPS envelope was sent to her for returning the documents. However, [redacted] was unaware that Mrs. [redacted] requested to be contacted as well. We sincerely regret this oversight.On October 30 and October 31, Ms. [redacted] emailed [redacted] indicating Ms. [redacted] would not be proceeding with financing. Director of Mortgage Banking [redacted] attempted to contact Ms. [redacted] on November 2 in regard to her request, but was unable to reach her directly. Mrs. [redacted] contacted Mortgage Banker [redacted] on November 2. Matt explained we would review the file and contact Mrs. [redacted] the following day regarding her request to close the application. Senior Director of Mortgage Banking [redacted] contacted Mrs. [redacted] on November 3 and indicated we would confirm with Ms. [redacted] directly that she no longer wanted to proceed, prior to denying or withdrawing the loan. [redacted] attempted to contact Ms. [redacted] and Ms. [redacted] on November 4, but was unable to reach them directly. On November 4, Ms. [redacted] contacted our Client Relations team for confirmation that the loan application had been closed. Client Advocate [redacted] contacted Ms. [redacted] and confirmed she no longer wanted to proceed with financing. Ms. [redacted]'s loan was denied accordingly on November 4, 2015 due to “incomplete application documents."Since we have received Ms. [redacted]'s complaint indicating that Ms. [redacted] does not want to be contacted further, Ms. [redacted] has been opted out of all communication with One Reverse Mortgage. She will not receive any further phone calls, emails or other correspondence from us – unless she opts into our services again or applies through one of our lead buy providers. Although we have opted Ms. [redacted] out of our direct mailing campaign as well, it may take up to 45 days for this to take full effect.We trust that this letter has answered any concerns that Ms. [redacted] may have. If there are any additional questions, Ms. [redacted] is welcome to contact me directly.Respectfully, [redacted] One Reverse Mortgage [redacted] ext, [redacted]

To Whom It May Concern:Thank you for giving One Reverse Mortgage the opportunity to respond to Mr. [redacted]s concerns. We regret that Mr. [redacted] is displeased with his experience.We began working with Mr. [redacted] and his wife in April 2016, when he inquired about reverse mortgage financing. After...

reviewing Mr. and Mrs. [redacted]s loan options, a detailed loan application package was provided for their review and signature. We received the [redacted]s' completed package on April 21, 2016.Mr. and Mrs. [redacted]s credit report indicated that two judgments were filed against them, by [redacted] in July 2013 and by [redacted] in December 2013. When we received the [redacted]s’ title search, it confirmed that the judgments were recorded as liens on title. Because our underwriting guidelines require that any judgments recorded as a lien on title on a credit report be paid in full prior to or at closing, we requested payoff documentation for each account. We received a payoff statement from [redacted], on May 12, indicating a payoff amount of $7,171.08 due to [redacted]. The document stated:“Upon receipt of the amount demanded above, we will send the judgment debtor an Acknowledgment of Satisfaction of Judgment to record.”On May 13, we received a payoff statement from [redacted] for the account with [redacted]. The statement indicated a payoff amount of $6,578.68 and stated:“We will file the Acknowledgment of Satisfaction of Judgment once the funds have been remitted as directed.”Mr. and Mrs. [redacted]s loan entered final underwriter review on May 13, 2016. On that date, Client Care Specialist [redacted] contacted Mr. [redacted] to review the loan figures and advise that a member of our Closing Team would be contacting him once the final review was complete. Mr. [redacted] requested that the closing documents be delivered to him the following day. [redacted] indicated she would request that the closing package be sent overnight after our Closing Team spoke with him to review final figures and schedule the closing; however, [redacted] advised they may not be able to contact him that day.Closing Care Representative [redacted] contacted Mr. [redacted] on May 16 to review final figures and schedule the closing. Once the final figures were acknowledged by Mr. [redacted], the closing documents were sent via UPS on May 17 and delivered on May 18 prior to the closing. Included with the closing package was a Closing and Disbursement Instructions document, instructing Mr. and Mrs. [redacted] to contact our Closing Hotline with any questions during the closing. Mr. and Mrs. [redacted] proceeded with signing the closing documents on May 18, 2016.After the [redacted]s' loan closed, a check to [redacted] in the amount of $7,171.08 and a wire to [redacted] in the amount of $6,578.68 were disbursed on May 23, 2016. Because One Reverse Mortgage does not hold the liens in question, we do not file the Satisfaction documents to release them. We apologize for any confusion this may have caused Mr. and Mrs. [redacted].It is always concerning to us when a client feels it necessary to file a formal complaint. We take pride in ensuring our client's best interests come before anything else. That's why it is particularly concerning to us that Mr. [redacted]s experience did not meet his expectations. We thank Mr. [redacted] for his feedback and appreciate him giving us the opportunity to provide him with financing.If there are additional questions, Mr. [redacted] is welcomed to contact me directly.Respectfully,[redacted] Resolution Correspondent One Reverse Mortgage [redacted] ext. [redacted]

To Whom it May Concern:
5pt;">Thank you for giving One Reverse Mortgage the opportunity to respond to Mr. [redacted]'s concerns. We regret that Mr. [redacted] is displeased with his experience.
We began working with Mr. [redacted] and his wife on June 1, 2016, when they spoke with Mortgage Bankers [redacted] and [redacted] about reverse mortgage financing. [redacted] and [redacted] gathered preliminary qualifying information from the [redacted]s regarding their income, assets and property and also reviewed a joint credit report. Mr. [redacted] estimated the current value of his home to be approximately $350,000.
Mr. and Mrs. [redacted]'s joint credit report indicated they had several collection accounts and two delinquent credit card accounts. Mr. and Mrs. [redacted] informed [redacted] that a family member had used the credit cards without permission. [redacted] explained that the [redacted]s would need to file disputes for those accounts and that we would order a Credit Supplement to verify their dispute status prior to closing, to which Mr. and Mrs. [redacted] agreed. Based on an initial review of the information provided, Mr. and Mrs. [redacted] appeared to meet guidelines for a reverse mortgage with an estimated line of credit amount of approximately $171,902.50. We received Mr. and Mrs. [redacted]'s completed application package on June 16, 2016.
As part of the underwriting process for reverse mortgages, we must complete a financial assessment that takes into account our client's willingness and capacity to meet his or her financial obligations. For this reason, we requested that Mr. and Mrs. [redacted] provide letters of explanation for the delinquent and collection accounts as part of their application package, which we received on June 14. After a review of the letters of explanation, we requested that Mr. and Mrs. [redacted] provide more detail on their plans for resolving the derogatory items on their credit as well as provide documentation for any hardship causing the missed payments. We received an updated letter of explanation on June 28, indicating that the [redacted]s intended to work with their attorney to negotiate settlements after closing rather than dispute the charges as initially discussed with [redacted]. Unfortunately, based on their credit history, Mr. and Mrs. [redacted] did not meet the guidelines for willingness and capacity.
If a client does not meet willingness and/or capacity, we may still be able to provide financing in some cases. If the client has significant equity in the home, we can utilize the Life Expectancy Set-Aside (LESA) whereby the mortgagee (One Reverse Mortgage) will use the client's reverse mortgage proceeds to pay property taxes and insurance premiums on their behalf. We calculated that approximately $113,000 would be required to be deducted from the [redacted]'s loan proceeds for the LESA. [redacted] contacted Mr. [redacted] on June 30 to explain the LESA requirement and inform him that the updated loan proceeds were estimated at $64,154. Mr. [redacted] agreed to the new terms.
When we received Mr. and Mrs. [redacted]'s appraisal, it indicated a value of $294,500. The lower value caused the [redacted]s' loan proceeds to be reduced again to approximately $29,675. On August 1, Mr. [redacted] informed [redacted] he no longer wished to proceed with financing with One Reverse Mortgage and his loan was denied accordingly on August 4, 2016.
To initiate the loan process, Mr. [redacted] provided us with a $350 deposit. As explained in the Deposit Agreement/Advance Fee Agreement signed by the [redacted]s on June 9, if their loan was denied or withdrawn for any reason, their deposit was would be refunded less the costs of the appraisal. Since the appraisal cost $475, there were no funds to automatically refund. While Mr. [redacted]'s complaint indicates that we collected $475, this is not accurate.
We share in Mr. [redacted]'s disappointment that we were unable to close his loan. While we acknowledge that Mr. [redacted] has requested a refund of the deposit, we do not agree that a full refund is warranted. We could not have anticipated that a LESA would be required without underwriting the loan, or anticipated that Mr. and Mrs. [redacted]'s home would appraise for less than they estimated at application.
If Mr. [redacted] has any additional questions, he is welcomed to contact me directly.
Respectfully,
[redacted]
Executive Office
One Reverse Mortgage
[redacted]

Please see our attached response.To Whom It May Concern:Thank you for giving Quicken Loans the opportunity to respond to Mr. [redacted]'s recent correspondence with your office. At Quicken Loans, we take great pride in our company culture--a culture that is built on a set of core values we call ISMs....

One such ISM is "every client, every time, no exceptions, no excuses." That particular ISM is manifested in everything we do, including in our thorough review and response to all inquiries, issues, and complaints brought to our attention. We sincerely regret any dissatisfaction Mr. [redacted] experienced with us, and have taken affirmative steps to resolve his concerns.We began working with Mr. [redacted] on September 26, 2016 when Mr. [redacted] contacted Quicken Loans regarding refinance options. Mortgage Banker Noah Doran gathered information from Mr. [redacted] regarding his goals in refinancing. Mr. [redacted] advised that he was looking to take approximately $100,000 cash out from the equity present in his home but hoped to avoid making a monthly mortgage payment. Because Mr. [redacted]'s goals were best met through a Home Equity Conversion Mortgage ("HECM"), commonly referred to as a reverse mortgage, Noah referred Mr. [redacted] to our sister company, One Reverse Mortgage (ORM), to review available HECM options.The HECM program is insured by the U.S. Federal Government. The Federal Housing Administration (FHA) insures these loans which enable homeowners age 62 and older to access some of the equity in their home as tax-free money. However, the program has limits to the percentage of equity a homeowner may draw upon, so that the homeowner retains Some equity in his home. Just like with any other mortgage, with a HECM, the homeowner remains on title and still owns his home. The loan generally becomes due and payable if the homeowner (or an eligible non-borrowing spouse during a deferral period) move, sell the property or pass away.During his conversation with Mortgage Banker [redacted], Mr. [redacted] indicated that his home was worth $180,000 and agreed that [redacted] should use this value when qualifying him and quoting terms. As indicated within the application package mailed to Mr. [redacted] on October 3, Mr. [redacted]'s line of credit for the life of his loan was $124,151, with an initial disbursement of $78,812 and $53,208 in reserve funds available after the first year. The principal limit Mr. [redacted] references in his letter represents hisline of credit plus the mandatory obligations ($8,869) due at closing.On October 15, 2016, [redacted] placed a follow-up call to Mr. [redacted] and spoke with his son, [redacted] advised that Mr. [redacted] was no longer interested in a reverse mortgage. [redacted] noted Mr. [redacted]'s preference and opted Mr. [redacted] out of future contact.One Reverse Mortgage is an Equal Housing Lender and does not discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you meet the age requirements of the HECM program), because all or part of our client's income may be derived from any public assistance program, or because our client has, in good faith, exercised any right under the Consumer Credit Protection Act.At ORM, we are committed to the needs of our clients whenever possible. Our goal in calling Mr. [redacted] was to communicate what loan programs would benefit him and to earn his business. We regret that our calls were unwelcome and thank Mr. [redacted] and his son for their feedback. Whenever we leave someone dissatisfied to the point they are filing a formal complaint, it is greatly concerning to us. As of October 18, 2016, we have verified that Mr. [redacted] has been opted out of future emails and phone calls with Quicken Loans and One Reverse Mortgage. We will only contact him again if he opts into our services by applying directly on our website or through one of our lead providers.We trust that our response has addressed any concerns Mr. [redacted] or his son may have. However, should they have any additional questions, they are welcomed to contact me directly.Respectfully,[redacted] Executive Office One Reverse Mortgage [redacted]

They are easy to work with and fast in getting done with your wishes. Answers all questions you give them. I really like working with One Reverse Mortgage.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me.  As long the business holds true to their response letter and has no further contact with my father, I will consider this complaint resolved.
Regards,
[redacted]