Comments on: Top Wholesale Reverse Mortgage Lenders, MetLife Posts Record Volume

By: Anonymous

Anonymous — Tue, 15 Dec 2009 23:18:00 +0000

ReversePro,rnrnPlease list them.

By: Anonymous

Anonymous — Tue, 15 Dec 2009 21:35:00 +0000

Having just made the switch from Financial Freedom to MetLife I have to say that MetLife has been wonderful to work with. I’ve been with Financial Freedom almost 9 years and this past year has been the worst experience in my life. We had 21 Business Days for a turn time just to get your file looked at in underwriting. Then Conditions Clearing took at least 2 weeks. By the time you got to closing your credit report, comps on appraisal, payoffs and title searches had expired and all had to be re-done. Not to mention their SRP had shrunk to practically nothing. My customer account rep was always rude and talked to me like I was stupid and was always quoting “Company Policy” to me. rnI say good ridance. They were always such a great company to work with and they still have some good folks there, but overall its a very stressful experience getting a loan closed with them.rnMetLife has been courteous and helpful on the phone and their Conditions Clearing department is a “breeze” compared to FF. I for one am thrilled to have made the change and happy they are doing well. 5 of those MetLife loans they closed were mine and I’m damn happy about it.

By: The_Critic

The_Critic — Tue, 15 Dec 2009 21:18:22 +0000

ReversePro,

Please list them.

By: metlifecheerleader

metlifecheerleader — Tue, 15 Dec 2009 19:35:30 +0000

Having just made the switch from Financial Freedom to MetLife I have to say that MetLife has been wonderful to work with. I've been with Financial Freedom almost 9 years and this past year has been the worst experience in my life. We had 21 Business Days for a turn time just to get your file looked at in underwriting. Then Conditions Clearing took at least 2 weeks. By the time you got to closing your credit report, comps on appraisal, payoffs and title searches had expired and all had to be re-done. Not to mention their SRP had shrunk to practically nothing. My customer account rep was always rude and talked to me like I was stupid and was always quoting “Company Policy” to me.
I say good ridance. They were always such a great company to work with and they still have some good folks there, but overall its a very stressful experience getting a loan closed with them.
MetLife has been courteous and helpful on the phone and their Conditions Clearing department is a “breeze” compared to FF. I for one am thrilled to have made the change and happy they are doing well. 5 of those MetLife loans they closed were mine and I'm damn happy about it.

By: Guest

Guest — Tue, 15 Dec 2009 18:37:00 +0000

Wholesale reverse mortgage lending has declined further than direct retail lending, repeating the pattern that manifests itself in the forward mortgage sector: Small-business mortgage brokers are being excluded from the marketplace. In the second half of this year alone, our small firm has lost three reverse mortgage loan officers to the large banks, who assign them branches that feed them leads and offer a salary and benefits that we cannot afford to provide.rnrnI resent that my tax dollars have been used to bail out the large banks, who are using their newly-found capital to achieve hegemony in the marketplace and drive firms like mine out of business.

By: HECM_Dude

HECM_Dude — Tue, 15 Dec 2009 16:37:30 +0000

I resent that my tax dollars have been used to bail out the large banks, who are using their newly-found capital to achieve hegemony in the marketplace and drive firms like mine out of business.

By: ReversePro

ReversePro — Tue, 15 Dec 2009 12:41:04 +0000

Who else has a competative fixed rate product ?

Still interested in knowing what others consider the top 5 companies in terms of customer service ?

By: disgruntled

disgruntled — Tue, 15 Dec 2009 11:29:22 +0000

This is just residual of MetLife taking 3-4 months to close loans. The majority of this business finally closing is when everyone was sending them business because they were the only option. It will be interesting to see how they fair now that there are other lenders in the market offering the low fixed. They have lost me as a customer as they had no respect or regard for thier business partners while business was good. Now they will be paying for it. Good luck to them and it only reminded me of the horrendous processing days of BNY when nothing could get done. I had an AE who I wasn't sure if she existed. No help, no assistance, and occasionally we would get an email apologizing for thier troubles. It's not a tough job getting business when you are the only one's in town. Now will be the true test.