Complaints

This profile includes complaints for Mutual of Omaha Mortgage's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Mutual of Omaha Mortgage

  1 E 22nd St Ste 401 Lombard, IL 60148-6159

  
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  Mutual of Omaha Mortgage

  960 North Shore Drive unit A Lake Bluff, IL 60044

  
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  Mutual of Omaha Mortgage

  1375 South Main St North Canton, OH 44720

  
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  Mutual of Omaha Mortgage

  401 S Old Woodward Ave Ste 457 Birmingham, MI 48009

  
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  Mutual Of Omaha Mortgage

  400 Galleria Pkwy SE Ste 1500 Sandy Springs, GA 30339

  

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:07/28/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I started the process of refinancing my home on 2/25/22. The first part of the process went OK, we were conditionally approved and signed our disclosures. Then we got to the inspection process, we paid for the inspection and Mutual of Omaha chose their inspection company and setup the date for the inspection. This is where things started to go bad. The inspector came and made notes of issues that needed repaired, which is fine, we addressed those issues. Now the reason we were doing a refinance was to get cash back to build and replace an existing detached garage that we already started tearing down and that was all known by the loan originator from the beginning. Well the home inspector included the repairs to garage (that we are replacing with the refinace) in our list of items that needed addressed after we had communicated to both him and our loan originator that was our reason for even doing the refinance. We also needed to have some testing done on our Well water which the home inspector that Mutual of Omaha setup and I paid for **** he didn't do that and that I had to find a second home inspection company to do that. So being that we are a approaching the month of April, I did pay for another home inspection to cover the water testing. Meanwhile when we addressed the garage issue with the Loan originator he instructed me by email, "to just patch up the parts of the garage for the inspector to pass it" so I did that also. So now it's July, I have stopped hearing from Mutual at all, and I am out of several thousands of dollars spent on repairing a building I am tearing down and on having to get 2 different home inspection companies. I spent money I didn't have to get this done and this could have been avoided if for one, the loan originator would have been sure to tell the inspector about the garage not to be included in appraisal, or have them fix the issue and re appraise the home after their error. They also should have used a inspector that do it all.

  

  Business Response

  Date: 08/10/2022

  Mutual of Omaha Mortgage, *** ("MMI") received your complaint and completed its investigation.  Your loan was started in February 2022 with the goal of paying down revolving lines with large balances and using the leftover money to renovate the garage.  Appraisal Independence Requirements dictate that no person shall or shall attempt to directly or indirectly cause the value assigned to the consumer's principal dwelling to be based on any factor other than the independent judgment of an appraiser.  To ensure that the valuation is independent, MMI orders its appraisals through 3rd party appraisal management companies that are responsible for selecting the appraiser for a given transaction.  When the appraiser evaluated your home, he noted several issues that needed to be repaired before the property could satisfy program guidelines.  Your loan officer emailed pictures of the required repairs and indicated that the repairs didn't need to be perfect, they just needed to pass the appraiser's reinspection.  Unfortunately, the repairs were not completed in time and MMI had to take a new application.  When MMI pulled credit in connection with the new application, a late payments were discovered, which made you ineligible for an FHA loan. 

  Per FHA guidelines, if a home's water source is a well, spring or cystern, then the water must meet local minimum water quality standards if application per township.  If there are no local requirements then the water must meet minimum standards set forth by the EPA.  An independent water company must conduct the 2 test and test results must be provided.  The appraiser who inspected your home was unable to conduct the required test; therefore, MMI had to have a qualified individual perform the test.  

  MMI regrets to learn of your frustration with the loan process.  As described above, the appraiser was selected by the appraisal management company and we had no influence over his report findings.  Since he wasn't qualified to perform the required water tests, a separate inspection had to be ordered.  Unfortunately, your property did not satisfy FHA guidelines without completion of the required repairs and your loan couldn't move forward due to the discovery of late mortgage payments.

  We hope this response resolves your complaint to your satisfaction.

  Customer Answer

  Date: 08/12/2022

   
  Complaint: 17639105
  
  I am rejecting this response because: The assigned inspector did take pictures and explained what needed repaired, those repairs were made but it wasn't until the second inspection that he informed us that we also needed to have the garage inspected by another party because he wasn't able to that. So again we had to pay for your inspector which we paid for, then had to pay for another inspector to do the well water testing, then after repairs we then found out we had to get another inspector to come and inspect the roof of the garage. If you note in the first inspection the inspector also stated we needed to add CO detectors to the home after he already knew all we have is electric appliances and the garage is not attached to home, which we went and had them installed throughout the home and later found out they were not needed so they was extra money and time that was put out regarding this.

  I have had 3 prior mortgages before trying for this one and i can honesty say this was the worst experience. The incompetence of the inspection process was a complete joke, I have wasted months of time and resources on this working with Mutual on something that in past went so smooth with other lenders. i would like my money returned for the inspections. I can not in good faith let this go.
  Sincerely,
  
  *****************************

  

  Business Response

  Date: 08/24/2022

  As detailed in MMI's initial response to your complaint, appraisers are selected by third-party appraisal management companies to ensure that their evaluations are  independent.  Our review of the appraisals on file indicate that the appraisers requested repairs to ensure that your property conformed to FHA guidelines.  There is no evidence that any unnecessary repairs were required.  The appraiser was not qualified to inspect your water system and a specialist had to be sent out.  Mutual of Omaha Mortgage, Inc. is sorry to learn of your frustration with the home inspection process; however, for the reasons stated above, it is not recommending further action in connection with your complaint.