Reviews
This profile includes reviews for Longbridge Financial, LLC's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Review Ratings
Average of 59 Customer Reviews
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Review fromLynn R
Date: 03/15/2024
1 starLynn R
Date: 03/15/2024
I spent over $500 and wasted way too many hours obtaining various documents requested by Longbridge; talking with George Mentzelos; the loan facilitator; and an hour being counseled. Just when I thought all documents were provided, Mentzelos requested even more and more documents. He'd assured me FHA had approved my reverse mortgage.
I'd sent in yet another document on March
7, 2024 and received an acknowledgement of receipt from Mentzelos. And then I received a notice in the mail- not a call or email from Mentzelos, but a form letter denying my loan. It was mailed on March 7 with Mentzelos' name at the bottom, meaning he had known my request was denied the same day he'd acknowledged receipt March 7 of yet another emailed document.
Longbridge Financial, LLC
Date: 04/17/2024
Longbridge Financial understands how important and time-sensitive obtaining a reverse mortgage can be, and it's disheartening to hear that the process fell short of your expectations. After investigating the circumstances surrounding your situation and consulting with the Loan ******** ******************************** it has become evident that there were significant challenges in obtaining the necessary documentation from your association for the Single-Unit Condo Approval. Despite our best efforts, unexpected leasing restrictions ultimately rendered the property ineligible for FHA approval. Please know that we take your concerns seriously and share in your disappointment that FHA approval was not ultimately possible due to HUDs guidelines.Review fromJanet W
Date: 02/26/2024
5 starsJanet W
Date: 02/26/2024
Great service and sales person. Everything was first class and professionally done. No question was left unanswered. Agent made the entire process painless and understandable. Recommend firm and agent to anyone interested in this product.Longbridge Financial, LLC
Date: 03/04/2024
*****, thank you so much for your kind words and 5-star review! We are thrilled to hear that you had a great experience with our service and sales team. It's wonderful to know that everything was handled professionally and that all your questions were addressed. We appreciate your recommendation!Review fromJohn N
Date: 12/18/2023
5 starsJohn N
Date: 12/18/2023
It is difficult to know exactly what to say about such an unexpectedly positive experience as the process to obtain my reverse mortgage through Longbridge. I began the process with another company about two years ago, and pulled out of the situation before it funded. That was one negative, and even rude, step after another, so my expectations were low even though a reverse mortgage is perfect for my situation.
From the first phone call, Christina and Tina treated me with not only courtesy and respect, but from the start, I felt like I was working with two long time friends. When we ran into issues with the appraisal and underwriting, these two took charge and resolved the issues with very little involvement on my end. In other words, like professionals representing their client. Like it should be!!
Every question and concern I had was treated with prompt concern and consideration for me. Again, like it should be. Now my mortgage has funded, but the assurance and invitation to call either of them for any reason at all has remained and I am quite sure it will continue. Every contact I had made me feel more like I was speaking to a friend.
Christina and Tina saw to it that I accomplished what I was after. Peace of mind. Like it should be. Heartfelt thanks to you both and Longbridge.
regards,
John NLongbridge Financial, LLC
Date: 03/04/2024
****, thank you for sharing your wonderful experience obtaining a reverse mortgage through Longbridge. We're thrilled to hear that ********* and **** provided you with exceptional service and made you feel like you were working with long-time friends. We appreciate your kind words and are here for you anytime.Review fromIsrael S
Date: 12/05/2023
3 starsIsrael S
Date: 12/05/2023
Julia Braun at Longbridge was available and helpful when we needed her, thank you!
Most loans I've heard of use a discrete, easily verifiable daily index (such as the LIBOR), as a base number for the interest rate. Longbridge uses a "rolling average", the average for one week ("which week?") of the of the One Year Constant Maturity Treasury Note. This may be beneficial insofar as it avoids a one-day blip, but I'm afraid it may lead to some fuzzy math. ("Which week?"; "Which day of which week?") We just signed our reverse-mortgage documents yesterday, which were prepared last week when that rate was higher, "too late to change", apparently take-it-or-leave-it, not nice) and are hopeful that Longbridge will be fair in their billing in the future. I always mistrust a large corporation, but I've found no bad reviews for Longbridge.Longbridge Financial, LLC
Date: 03/04/2024
Hi ******, thank you for taking the time to share your feedback with us. We appreciate your kind words about *****'s assistance. We understand your concerns about the interest rate calculation method and will take your feedback into consideration for future improvements. We strive to provide fair and transparent service to all our customers.Review fromAngela C. M
Date: 11/22/2023
5 starsAngela C. M
Date: 11/22/2023
We are so pleased with Julie from Longbridge. From beginning to the final process, she was pleasant and always available to answer questions. It was very reassuring to have our hands held during the entire process.
We cannot thank Longbridge and Julie enough. If you are in need of a reverse Mortgage, Longbridge is the way to go.Longbridge Financial, LLC
Date: 11/27/2023
Hi ******! Thank you so much for taking the time to leave us this glowing review and recommendation. We are thrilled to hear you had such a positive experience. It was our pleasure to serve you!Review fromPatricia V
Date: 11/18/2023
1 starPatricia V
Date: 11/18/2023
During the initial conversations with Longbridge we disclosed that we may have an issue with the distance of our septic system to our well. We were repeatedly assured that waivers were routinely granted. He confirmed that our situation had been discussed with his boss. Based on that assurance we paid the application fee and $300.00 toward the appraisal. We additionally paid for the certificate that was required. William, the underwriter, then proceeded to request a water quality test for which we paid over $200.00. William then requested a licensed septic inspection be performed. Which we did at an additional expense. William somehow missed the inspectors state license number in the letterhead and rejected the report. We were then informed that William had an issue with our Riparian rights. The title insurance company listed riparian rights as an exception. William wanted riparian rights insured. NO title insurance companies insure riparian rights! William then insisted on a very expensive survey of the property as two lots had been combined by our town. We provided town documents that were dated and stamped by the town clerk confirming that the town had combined our two lots after our purchase of the property. William rejected those documents. We refused to pay for a second appraisal or a $2600.00 survey until a HUD waiver was submitted. That was done and we ultimately did not receive the waiver concerning the well location. Now we receive a bill from William stating we owe an additional $350.00 balance for the first appraisal. I understand the minutia required during the processing (William also required a letter stating why we moved from an address 20 years ago). However, we would not have proceeded with all the out of pocket expenses if we had not initially been repeatedly assured that our well situation was not unique and they were confident about exceptions being granted.Longbridge Financial, LLC
Date: 11/22/2023
Longbridge is in receipt of the information above and will review the matter before responding.Longbridge Financial, LLC
Date: 12/06/2023
Longbridge continues to review the information submitted and review or files. Response is forthcoming.Longbridge Financial, LLC
Date: 12/22/2023
Longbridge Financial, LLC (Longbridge) reviewed the complaint you filed with the Better Business Bureau and the communications between all parties involved with your loan application. We believe it was explained that a HUD waiver would be required to move forward. A Mortgage ****************** cannot guarantee a loan will meet all requirements when a waiver is required to be submitted and approved by HUD. However, our MLOs make every effort to review each customers situation and provide guidance throughout the application process. The processor reviewed your loan and requested information from you as required by FHA/HUD guidelines for origination of a Home Equity Conversion Mortgage (HECM). Due to the unique circumstances regarding your property, additional documentation was required. The documentation you submitted was reviewed, and in some cases, did not completely satisfy the loan requirements. In these instances, additional requests were made to attempt to document and qualify you and your property in accordance with underwriting guidelines. A Home Equity Conversion Mortgage requires an appraisal and counseling certificate; both are at the expense of the consumer and the fees associated were disclosed during the application process. The appraisal requires an initial down payment of $300 and prior to making the initial down payment, you were required to agree to the terms of this appraisal agreement. A second appraisal was required per FHA, and it was noted that the order for the second report request would not proceed until the results of the waiver were returned. Your loan application could not move forward since the distance between your well and septic did not meet HUDs minimum property requirements and the waiver requested from FHA was declined. Unfortunately, due to FHAs rejection of the waiver request, Longbridge was required to deny you loan application.Review fromTerri M
Date: 11/08/2023
5 starsMr. Michael Osgood has helped me through the entire process and has answered all of my questions, been very knowledgeable about everything I asked about and has a super friendly and warm personality. I have enjoyed working with him to get my loan processed and appreciate all of the help he has provided to me. Thank you so much for making the decisions and the process so much easier!!! I do highly recommend working with Mr. Osgood!!!Review fromLarry J
Date: 11/01/2023
4 starsLarry J
Date: 11/01/2023
Long process for an old man with limited technology experience, Monica was wonderful and very patient. No complaints on Longbridge Financial. Thank you for the help.Longbridge Financial, LLC
Date: 11/03/2023
Thank you for taking the time to leave us a review! We understand the process has its challenges, but we're thrilled to hear ****** took good care of you throughout. Have a wonderful day!Review fromSheila G
Date: 10/24/2023
5 starsSheila G
Date: 10/24/2023
I couldn't be happier with my experience working with P***** ******* at Longbridge. She was always informative, helpful, available, and kind throughout the process of obtaining my reverse mortgage. Thanks to her, everything went smoothly to completion and she continues to address my questions and concerns promptly. The process of documentation itself can be a little frustrating but that is to be expected in any such major transaction. I highly recommend Longbridge!Longbridge Financial, LLC
Date: 11/03/2023
Thank you so much for the review and recommendation! We are thrilled to hear you had such a great experience.Review fromTerresa S
Date: 09/30/2023
5 starsOnly a positive outcome with funding in just a month from application to closing. We did our part in a timely manner and so did Longbridge. Every step went according to schedule and we were at closing pretty quickly. Excellent experience with this company and would highly recommend Longbridge Financial.
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