Mutual of Omaha Reverse Mortgage Reviews

I would have given the process we went through a negative rating! We started the process on 3/22/24. Our agent Brett out and out lied to us several times. We questioned him many times about the roof needing replaced and well as the spare bedroom ceiling. He always assured us that a lot of people get this mortgage for home improvements. We submitted paperwork on 3/22, 25, 26, & 27/2024. Friday 4/5/24 Brett called to say everything look great. When asked about how long it would take to receive the check he said about a month. What! When we started the process he said it should take about a month, you CAN NOT TRUST ANYTHING THA HE SAYS!

Great experience! I was always able to get my questions answered, and they walked me through each step of the process. I would definitely recommend Mutual of Omaha to others looking at getting a reverse mortgage

It was just about the worst experience of my life. Two appraisals with the second being $40k lower than the first. The title company could not figure out how to handle a JTWROS transfer with my mom's death certificate. The title company out and out lied to me at least four times and eventually decided I needed two affidavits of heirship. They were trying to charge $7000 for title insurance.

I applied for this mortgage as a tool to supplement my fixed disability income, and as a solution for improving my cash flow until I'm of retirement age. I wanted ease my fear of losing my house. The loan officer assured me time and again that I didn't need to worry, that my application was very "straightforward" and he could not see or anticipate any problems. I told him that my situation had changed and that I I needed to pay off creditors. He said, no problem, you're going to like what I can do for you, we're just waiting for the underwriter to sign-off. Finally, after 2 1/2 months I am told that everything is approved and we're scheduling the closing. 'I'll close on 06/26/23 and get funded on 06/30/23.

I helped my parents take out a reverse mortgage on their home. The loan officer was very helpful and I would recommend using them. I had a great experience. They responded to me quickly, and they had a lot of information to give.

My wife and I applied for a reverse mortgage. We started out in beginning of May and it went on for 5 months. Eva ** who was our processor never submitted all of our documents for earnings. We were denied because she never submitted all of our documents and it fell short of income. We had to resend those documents which took another 7 weeks.

Promised the world, bad mouthed other lenders, just wanted my certificate, then took six months to close and never provided an accurate closing cost statement. They started with a $6000 origination fee that they waived when I pressured them to not charge me. Poor communication with underwriters and closing was a joke. Random attorney showed up unannounced at door for closing and could not answer any questions. He was too busy texting his next stop. GO ELSEWHERE....BUT GOOD LUCK. The entire industry is a shame. Closing cost were over 20K at first and I only needed a 10K cash and line of credit. Nothing like taking advantage of the elderly.

I had a very good experience with Mutual of Omaha for our reverse mortgage. We used MUOM because of the highest rating on internet. We started with one agent and then we had Andrew. He was very informed and kept us up the date on everything. I would highly recommend this company to anyone asking.

Reverse mortgages are the best thing since sliced bread. The mortgage industry is astoundingly unfair to many home buyers but the reverse mortgage is the right idea, for a change, allowing many homeowners whose major asset is their home to access their own hard earned money that is otherwise locked up in their home. My reverse mortgage application process was sometimes confounding because of an unhelpful HOA, among other things. Cheryl **, for Mutual of Omaha, had the patience and good grace to help me with tasks that went above and beyond and to reassure me that it would all be worth it in the end.

My case manager, Rodney ** was great, however the service by the other staff members was not. I became frustrated when calls were not returned and after receiving emails that seem to infer that I had done something wrong. The long process was terrible. And finally the kicker was to receive a check for over $6000 where I was overcharged!! How does that happen?

Very helpful staff. The Process went quickly and helped me immensely. Always kept me updated on the process. I would highly recommend this company to anyone thinking of doing a reverse mortgage. I was very happy with the whole process.

Our experience was Amazing from the Start. We Felt Comfortable with our Representative from Day One. The other Companies we talked with were pushy. And could've cared less about us. She gave us all the positives and negatives upfront. We knew we definitely were doing the right thing for us. Any problems we had she was patient with us. She went above and beyond many times, to the end. We Would recommend them to anyone thinking about doing this.

Overall found the experience to be easy and painless with the exception of the appraisal process. In the end two were required and the results were alarming to me. A difference of 30k just seems incorrect and something should be done about the difference in values. I have a hard time believing this occurs on a regular basis and wasn't pleased the lower of the two was the one used for value. I was pleased with Barbra's handling as she made the experience as seamless as possible given the current situation with vendors, contractors etc.

Oh my Gosh. I cannot believe how incredibly easy and honest these people were at Mutual of Omaha. We handled everything over the telephone and in the beginning I was skeptical. But they came through with each and every step of the way, just like they had promised me. Chris ** was my loan officer and he was so professional and honest with me about everything. Thank you. Mutual of Omaha I love my new loan and totally trust you!!

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.

Greg ** was my agent. This was not my first reverse, but it was the best. Greg educated me on what a reverse mortgage was and its benefits and encouraged me to ask questions before making a decision. Communications were ongoing, and I was kept informed through each step and what to expect next. Emails or phone calls were responded to quickly, which takes the stress away when dealing with this big of a move.

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.

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.