Peggy T. R.
Frustrating
This is a Government program and understandably it was frustrating as it was unnecessarily confusing and no common sense was used in underwriting. Too many duplicate questions. How many times or ways do you have to explain your situation? I needed this loan but felt like you thought I had nothing else to do but answer the same questions over and over again and time was of the essence with my situation. I was beginning to feel as though if you stalled long enough I would give up and not complete the process. Wasn't this program designed to help people in need? My processor was kind and understanding but had to adhere to all the useless regulations imposed. I worked in loan origination for 40 years and my initial feelings about an application would tell me if it was feasible or not and what red flags were to be address in advance, not left to last minute delays. You learn to circumvent delays and avoid last minute disappointments.
Reply from ReverseMortgages.comDec 22, 2015
Thank you for taking the time to give feedback. While it can be frustrating to adhere to the different regulations, we should be able to anticipate red flags. We will take this as an opportunity to go back and train so that hopefully we can prevent these delays in the future. I am glad that your loan did close so we could get it wrapped up for you.