Longbridge Financial review: Reverse mortgage

Dear CEO Christopher Mayer,

I was told several times just before closing that I would receive $6,357.96 after one year of closing. My closer set in my house and said a few times to watch for the year payout. I ask him if I had to call to get it or would it come automatically. He said I would have to call Longbridge closer to the year end date, which is Sept 2, 2023. I have called 5 times to get a straight answer about a payout that I was told several times that I would receive at the first year anniversary of the closing of the loan. The first time I talked to a supervisor she said yes she could see that and that if I went to their website I could see it too. I did not go to the website because I trusted what she said. But I did decide to call back Wed. Aug 23th 2023 to see if it would automatically come or do I have to fill out a form.

I was told by another supervisor, Trish, that she could see it too but she had to do some checking as to how the payout would need to be handled. I ask Trish why the regular agents could not ever see that I was to receive this payout. She said,"agents are not allowed to see that info." While she was looking up the info. I ask if she could repeat the payout amount again. She tried to find it again but never could. Finally she said I will call you back for sure by Monday, the 28th. I never got a call. I called late evening Monday and talked to an agent. He was very hard to understand because a few children were laughing and playing very loud near the phone. TV or movies were also playing in the background. This concerned me greatly! He could not help me at all. He said supervisors were already gone for the day. I called back the next day, Tues.Aug 29 2023. I did speak to a supervisor, Cheyenne, (not sure of spelling) she said that she had spoken to me a few weeks ago and told me there would be no payout. If she is the one I spoke to a few weeks ago, she is the one that told me there would be a payout and told me I could see it on line. Her voice was not at all like the woman I spoke with several weeks prior.

I read a page of my closing papers to her that seemed to say something about the payout. She said she knew nothing about how to interpret what I read to her. She was nothing like the first time we spoke, very kind and caring. This time she was abrupt from the first hello. She said she could read the notes from a few weeks ago and that she had written that she could find no payout. That was a lie if indeed she was the first supervisor that I spoke with. Do these supervisors have the capability to change notes? If so I want to hear the recorded phone calls. So many questions are left unanswered. The agents and supervisors are not trained with all of the info they need. This is the most unprofessional mortgage company that I have ever been exposed to. I feel like this type of mortgage to seniors is certainly dangerous for the customer. The original loan officers at Paramount mortg. do not know the information for the loans especially as it approaches closings. They just do not understand how to interpret the closing documents. Then they hide behind the fact that we are old and we just do not remember what we have been told. That is not acceptable behavior at all. I greatly resent it. The same seems to be true for the Longbridge agents and supervisors. My memory is excellent and I know what I was told. I have talked to Paramount Mortgage and it appears that my loan papers were misunderstood by the loan officer when he told me I would get $6357.96 after one year of closing. He is not the age of a senior citizen. What is his excuse for making this so called mistake? Your agents and supervisors made the same mistakes interpreting what ever they were looking at on my loan. Two of your supervisors told me YES! I would receive a payout distribution one year after closing, which should have been Sept. 2, 2023. Are these agents so old that they cannot read or perhaps remember what their training on how these mortgages work. I do not care who is at fault, but Paramount and Longbridge are being held accountable for giving out misinformation. You can not misrepresent a legal loan document verbally or any other way. I am sending this information with other documents to the Attorney General of Oklahoma. I plead with you, CEO, Christopher Mayer to investigate what is going on with your staff. They are not trained properly and give out wrong information that is hurting the Senior Citizen community. Then they are lying about it. I certainly regret getting this loan. I am helping other seniors to be aware of what a horrible choice it is. This whole process leaves a lot of room for deception. I was deceived . Now I am cheated out of $6357.96 that I was repeatedly told by Paramount Mortg. and Longbridge Mortg. that I would receive.

Paula D Wright

Account number: 3290305

1817 Sunflower Rd NE

Piedmont Ok 73078