Complaints

This profile includes complaints for Longbridge Financial, LLC's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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• 

  Longbridge Financial, LLC

  61 S Paramus Rd Ste 500 Paramus, NJ 07652-1262

  
• 

  Longbridge Financial, LLC

  4601 Park Rd Ste 500 Charlotte, NC 28209

• 

  Longbridge Financial, LLC

  293 E Front St Ste F Burlington, NC 27215

• 

  Longbridge Financial,LLC, Richmond, VA Branch

  15080 Broadwater Way Chester, VA 23831

• 

  Longbridge Financial

  16604 SE Harold Ave Portland, OR 97267

  

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:03/11/2025

  Type:Order 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.

  Company denied the borrower a pay off quote and access to online account witch wasn't set up by borrower

  

  Business Response

  Date: 03/23/2025

  This was sent directly to the consumer. 

• Initial Complaint

  Date:11/15/2024

  Type:Service or Repair Issues
  Status:

  ResolvedMore 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 applied for a HECM line of credit with Longbridge Financial. I paid for the required HUD counseling session on May 21, 2024 ($125) plus $450 for the property appraisal. On July 9, I received an email from Stephen C***** that my loan had been approved. I received a follow-up email that we would be clear to close the following week. Based on that information, I ordered replacement windows through my general contractor and scheduled installation plus house painting for October. I knew the windows would take about 8 weeks to come in and wanted to ensure installation would take place before winter. In the meantime, I had no contact from Mr. C*****. I reached out later in July to find out when we would close. He then revealed that HUD had a problem with my homeowner's association rules and would not underwrite the loan. Mr. C***** knew about the association, as I had to provide proof dues were paid and I was a member in good standing. At no time during the application process did he disclose potential problems with association bylaws. He stated that my loan had been approved and we would be closing within days. His supervisor, Vanessa W****, made an effort to remediate the problem to her credit. But I was left in the position of scrambling to find funds to pay for home repairs that I had planned to use the HECM LOC for. If Mr. C***** had not told me my loan was approved, I would not have scheduled the repairs. I ended up $30K in the red, incurred bank transaction fees, and have had to return to work to pay off this debt. At the very least, the company should compensate me for the bank fees I incurred because Longbridge failed to perform their due diligence regarding my HOA and misinformed me about the status of my HECM loan.

  

  Business Response

  Date: 11/19/2024

  Longbridge understands your frustration with this situation.  We have refunded $300.00 to the credit card you used to pay for the appraisal deposit. We will also be sending you a check in the amount of $125.00 for reimbursement of your counseling fee.   

  Customer Answer

  Date: 11/19/2024

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********* and find that this resolution is satisfactory to me.
  
  Regards,
  ***** ********

• Initial Complaint

  Date:05/28/2024

  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.

  Longbridge Financial LLC claims they have the reverse mortgage that was on my biological mother's house when she died. I am not one of her heirs. She left everything to her adopted daughter. I have no interest or claim to anything she may have owned or owed, at the time of her death Nov 2021.I have explained this to them numerous times. I have provided their lawyer (********************* OSB ******) a copy of the will and a signed statement that I have no claim on anything to do with the estate. They keep calling and sending me things that look like bills. I am tired of the harassments.I used to call them back and they wanted the account number, which I don't have because I have nothing to do with the situation. I just got large envelope with a lot of legal documents including "Total fee and Cost: $3,173.31" I have spent way to much time, and money consulting a lawyer and having them write up the document stating I had no claim, when this has nothing to do with me. I do not actually have a business relationship with this company but they keep sending me things.

  

  Business Response

  Date: 05/29/2024

  Please provide your mother's name so that we may review the account.  Thank you. 

  Customer Answer

  Date: 05/29/2024

  
  Complaint: 21772100
  
  I am rejecting this response because it is just an request for more information.  

  Here is more information regarding the case.

  Biological mothers name ***************************.

  Address of property:  *********************************************************

  Case No for the county of Clackamas that I should not be involved in 22CV21239. 

  
  
  
  
  Regards,
  
  ***********************

  

  Business Response

  Date: 06/07/2024

  *********************
  ****************************
  *********, OR 97222

   

  Re: ********** of *************************

  
  Dear **************:
  I am writing in response to your letter that the ********************* received on June 4, 2024, regarding
  the above-referenced account. I appreciate the opportunity to respond to your concerns.
  We have received your correspondence advising that you have no interest or claim to the estate of *******
  *****. A priority note has been added to the account to advise of this, and a request has been made to
  remove your contact information from the account.
  If you have any additional questions, please contact us at **************. We are available Monday
  through Thursday 8:00 a.m. to 7:00 p.m., and Friday 8:00 a.m. to 5:00 p.m. Eastern time.

• Initial Complaint

  Date:05/09/2024

  Type:Service or Repair Issues
  Status:

  ResolvedMore 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.

  On Nov/Dec timeframe I applied for a Reverse Mortgage for this company. **** and *************** reps made me get an appraisal before 'all my deeds were pulled on my property'. I paid the appraisal fee of $300 and understood part of the loan. In December ***** via **** demanded that I call my home insurance State Farm and get a policy of 1.3million were as before it was for $250. I went ahead and called State Farm and requested the increase believing the loan was going to go through. A month later the loan was denied. I immediately called ********** and cancelled the increase. State Farm refused to credit my account although they did not think it was fair. am looking to get reimbursed for a fee that could have been avoided. Thank you.

  

  Business Response

  Date: 05/10/2024

  Please provide documentation showing the additional $111.62 premium due to the increased coverage requested by Longbridge.  Thank you. 

• Initial Complaint

  Date:02/02/2024

  Type:Billing 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.

  My wife and I are trying to pay for an appraisal that was conducted on our property, a fee we need to pay due to the fact we turned down Longbridge's reverse mortgage after giving it much thought. We asked them to bill us and they charged our Credit Card for over $900 and we didn't have that much credit available. So we contacted them again and asked them to reverse the charge (Because we called our ************ and they said give them a chance to make it right). LongBridge will not work with us and said it was the appraisal company that took out the charge. But the charge on the Credit Card listing on the website of our ************ says "LongBridge Financial". You know all along it was difficult for us to truly weigh the reverse mortgage because as we told our loan officer I have cancer and need to go to Mayo. So it just didn't seem to be the right time. But now we can't use our Credit Card to go to Mayo and LongBridge doesn't understand that we have a lot of irons in the fire right now-- and now they have run our card over the limit. We have stated more than three times - we will send them a check. That will help us take care of the billing for the appraisal. They know people get reverse mortgages in the retirement years and we are on a fixed income. Now that they have already taken $250 without warning we are afraid they will take the full $900 if we clear the CC.

  

  Business Response

  Date: 02/13/2024

  At the time you submitted your loan application,  you were provided with loan discloses outline the requirements for payment of the appraisal fee. By signing the disclosures, you agreed, in advance, to cover the appraisal cost using your credit card in the event that the loan does not close. All necessary disclosures were provided and acknowledged at the time the application was submitted by you to Longbridge. Additionally, the loan officer communicated this arrangement ensure transparency and understanding of our policy. Longbridge understands you are frustrated with our process, however, the information about how the appraisal fee would be collected was provided to you at the onset of the process.  

  Customer Answer

  Date: 02/13/2024

  
  Complaint: 21239975
  
  I am rejecting this response because:  This is the response you get. You didn't read the fine print. In my profession, mental health there is such a thing as informed consent. A simple "And you saw that you will have to pay $---- this amount if you choose to not get a reverse mortgage. We were never informed about the cost of the appraisal or the 50% fee attached. " Not saying it isn't in the fine print.

   

  We are so glad we decided not to get a reverse mortgage with your company. You in our opinion, are not "taking care of people" and making their lives better.
  
  
  
  Regards,
  
  *************************

• Initial Complaint

  Date:08/16/2023

  Type:Delivery 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.

  Date of transaction was 7/26/23 ************* ***************)for the amount of $356.95 Documents for a Reverse Mortgage Was unable to get this Reverse Mortgage due to being a condominium Was told I would get a refund I have not received this refund.I have tried calling numerous times. They do not answer my phone calls nor do they call me back as I have requested. I have no tracking number.

  

  Business Response

  Date: 08/28/2023

  As noted in the initial responds, the payment for the Condo Questionnaire went to the homeowners association, and not Longbridge Financial.  Unfortunately, Longbridge has no control over a refund due from a third party. 

• Initial Complaint

  Date:09/12/2022

  Type:Order Issues
  Status:

  ResolvedMore 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.

  Notice of Mortgage Withdrawal, Cancellation or Denial: Acknowledgement In reference to your notice of cancelation and withdrawal. The decision to not going through with this loan was due to the result of your withholding the need of us to obtain wind insurance at the 11th hour. The cost of the wind insurance where I live is prohibitive. The cost of the mortgage with wind insurance would be too costly for me to proceed with the loan. As you are aware when I applied for the loan, I submitted all required paperwork which included my homeowners insurance policy in early July, which did not include wind coverage. You never mentioned to me the need for such insurance. If anyone is responsible for denial of such mortgage, it is not me, it is you, ********************************I believe you intentionally withheld the requirement of wind insurance after, you several times assured me the loan was approved and I would receive my Proceeds within less than 30 days. Therefore, the invoice you sent me is not valid because you assured me that $1000 would be credited to my proceeds of the loan. Therefore, the invoice you sent me is invalid and I would expect a cancelation of said invoice. I am sending a copy of this letter to the Better Business Bureau to protect other senior citizens like myself from this happening to them in South *******. Sincerely,*********************

  

  Business Response

  Date: 09/23/2022

  Wind insurance is most often included in standard homeowners insurance policies.  It is very unusual to find a policy which excludes wind.  The loan officer working with ************** did not intentionally withhold this requirement from ***************   Withholding this type of information does not benefit Longbridge or ***************  Please be assured that the loan officer worked in good faith with ************** throughout the process.  Longbridge certainly understands the frustration felt by ************** when he learned of the insurance requirement and acknowledges we do not expect ************** to pay any additional fees to Longbridge. 

• Initial Complaint

  Date:06/17/2022

  Type:Order Issues
  Status:

  ResolvedMore 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 applied for a reverse mortgage loan and it has been a terrible experience. But I finally signed all loan papers and the loan was to fund on 6/17/22. It has not funded. I have left messages with loan officer. No response. There is no other number to call to get answers. I want them to fund the loan as agreed asap. If they were not going as per the agreement someone should have notified me of that and explained why.