About Mutual of Omaha
Mutual of Omaha’s reverse mortgages include HECMs, HECMs for Purchase and jumbo reverse mortgages. The company offers its reverse mortgages through local loan officers or by phone. Mutual of Omaha’s website has lots of resources, including many reverse mortgage and retirement calculators.
Overall Satisfaction Rating
- 5 stars
- 4 stars
- 3 stars
- 2 stars
- 1 stars
- Resources and calculators online
- Options for many borrowers
- In-person advice from loan officers
- Other mortgage options in-house
- No online information about rates
Mutual of Omaha offers reverse mortgages including HECMs and HECMs for Purchase in 48 states. The company allows homeowners to begin the application process online.
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To keep this short a second appraisal was asked for. I was told we would not have to pay for if that happens. We paid for it appraisal came in at 180.00. I pointed out four properties. Three in my street one for 253.000. One for 450.000 one 243.000 another for 243,000. Your sales specialist rude and wanted no part of an appeal I was told it would never work.. I just kept pushing until I found someone who would help. Even her reaction was no to appeal because the appraisers probably would not cooperate and it could take another two months. But because of research I had done it would probably get approved for more.
My rights allowed me to ask for another appraiser and appeal. You are and were in complete violation of those rights. The first appraiser agreed with me.. The second appraiser picked out 4 houses one street and were not even closely comparable to our house. Seriously I was also told you were servicing your own loans now Z it took you a week to dump our loan. Will be appealing with Hud have had tragedy in family and have had no time but please let me assure you I will do it.Thank you
The application process is laborious and, oftentimes, the broker and underwriter, were on different pages. The constant requests (almost daily) for information was maddening. It seems the process could have been easier if a checklist of possible information requests were given at the start by the underwriter. Be prepared and have patience. As an aside, my broker, Barbara **, was topnotch and a great person in the process.
Very smooth process. Everyone involved was knowledgeable pleasant and extremely responsive. Would suggest that anyone use Mutual or Omaha. My information was kept private. The companies used for in home signing & appraisal were extremely easy to work with, and all local which I prefer.
My experience in applying for this lengthy loan and often tedious process was made tolerable by Gregg. He kept me informed prior to each activity every step of the way. Most of all I appreciated his professional manner and expertise in explaining the content of each document. I really liked the easy going manner. Thanks, Gregg. Phyllis
Your agent for me was Dave **. He did a very good job, his explanations were clear and his communications prompt and kind. I'm giving you 4 stars instead of 5 because it took months for you to arrange an appraisal of my house.
After a long process and very pleased with the way all your different teams. Helped me through my loan. I received my money from you as it was to be done. However, not long afterward my account was transferred over to a different company. Not satisfied with this at all. I trusted Mutual of Omaha. And now I have someone, I know nothing about.
I felt that the appraisal was very low considering the homes in the neighborhood. My neighbor had their appraised for the same as my home and his was in bad shape plus it has no deck or nice shed or fireplace.
Loi and Jocelyn were professional, available, helpful, and knowledgeable. When minor problems arise, they handled all details and I never felt frustrated during the process. These two and Mutual of Omaha’s reputation made my experience successful and I will recommend this service highly.
The house is worth 700,000 but it was only appraised at 600,000 leaving me with only a 120,000 gain in available funds. The underwriter was practically obsessed with proving we paid a $65 HOA fee from a house sold a year earlier. Then they made a mistake in the calculations and had to do at least half of the signatures all over again. I should’ve told them to forget about the loan. My mistake. Nothing wrong with the loan officer by the way. It’s the approval system and others’ mistakes she had to deal with as well.
We went through the ringer with this first time reverse mortgage. Our agent was Sabrina **. We felt like we were a second thought and by the time we were able to finalize. We were just desperate to get enough money to pay our tax debt before it got any larger. Then to add to our frustration the mortgage shows our address as **. Our actual address is **. Then great big Mutual Of Omaha sells our mortgage. I have only one thing to say to Mutual Of Omaha. "You will never get any more business from us."
Dave ** kept dragging out the experience. He bad mouthed other lending companies. And he had me give him the same documents several times. He even tried to tell me that I had tried to hide income. I had given him bank statements with all the income circled and highlighted. When he finally got on my last nerve I actually yelled at him that he was some kind of scam artist.
I got so disgusted with him I called the main # on the website. Then someone else took over and discovered that ole' Dave had me giving him the same documents over and over and over and over, etc. Then with the new person everything was finished in less than a month. Also, ole' Dave had my home appraised twice. The first one was higher than ole' Dave wanted it to be so he had another appraiser do another appraisal. The first appraiser said MOH wanted a low appraisal. Then the second one called and said ole' Dave told him a figure and told him to come in lower.
I asked about that and was told that they always try to come in low so they don't have to lend so much money., I also told ole' Dave if he wanted a second appraisal I wouldn't pay for it. When I got the final papers he charged me for the appraisal I said I wouldn't pay for. I asked if he was a crook and he said he was only doing what he was told by managers of MOH. I told Ole' Dave that AAG had called and said they wanted to do business with me. He told me AAG couldn't close a loan if their lives depended on it. He couldn't say enough bad things about AAG. I told him I didn't want anything to do with him or MOH. Then a manager called and closed the loan without needing anything else. Since they had 10 copies of everything because of Ole' Dave.
Received a letter from a lawyer about previous contact with realty co. They were paid off to terminate contract and later tried to file a claim against me. Talked with representative and cleared that matter up. It's nice to be represented with someone that has my back at all times. Also getting the funds I'm able to is very easy.
I had a very personable person, Jane **, who answered all my questions and was able to guide me through the whole process. She was dependable, professional, courteous, friendly and a really exceptional person to deal with. Other companies were horrible.
Going through the Reverse Mortgage procedures is always more involved than standard home buying with a mortgage. Ms. ** walked me through the complete procedures (yes, there is more than one!) to completion. Also, I needed to call her several times about questions and concerns. She was always so very helpful. I highly recommend her.
Very helpful throughout the entire process. Keep me posted on all aspects during process. Bonnie ** was great to work with. I will recommend Mutual of Omaha to friends and family that are considering a reverse mortgage. Thanks for the great work.
She was Professional but courteous. Responding promptly to our questions. Lisa kept her appointment and arrived on time and was available to answer all our questions and made us feel like we were important to her and not just another statistic.
At signing you’ll be get 1/3 or 1/4 of what they promise you. Of the total money you be getting. And are trying desperately to get much older citizens because are easer to sign what’s being put in front of them. Predatory loan officers from Mutual “Denise **” and co worker Mike. By Esperanza ** and son.
Mutual of Omaha Reverse Mortgage Company Information
- Company Name:
- Mutual of Omaha Reverse Mortgage