Consumer complaint received 2024-01-13
Product: Mortgage — Reverse mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: Longbridge Financial, LLC (LA)

In reference to original complaint XXXX and letter received on XXXX. 

Thank you, for the reply and included information. The sudden inclusion of the notice of the right to rescind is appreciated. It is curious that your letter says the end of the rescission period is the XXXX but the forms included said the XXXX. The only reason I don't call XXXX. is that the very bottom of the page says it was originally printed XXXX. The closing statement signature page was printed out on XXXX and signed on XXXX. The previous pages with the actual disclosure of the amounts being transacted show the date of original printing was XXXX. No where could I find mention of escrow account in the closing document. Also, federal laws also extend the right of rescission involving real estate for three years after consummation not three days. 

The mention of documents referred to being from another loan is confusing. I agree that it is an escrow from another loan. However, the documents I mention are documents signed XXXX and are regarding the transaction with Longbridge. Please take a look at the first page of the contract that shows the recording requested by Longbridge Financial , LLC with the title, " ADJUSTABLE RATE HOME EQUITY CONVERSION DEED OF TRUST. '' Above the " FHA Case No. '' is a line that says " Space Above This Line For Recording Data, '' on the left side of that line is a hand written alpha numeric sequence. There is no indication of what it means. Now please find the affidavit of death of joint tenant. You will see in the heading of that document after " ESCROW NO. '' the same alpha numeric sequence as the one that was handwritten on the first page with the recording information. Then please find the " GRANT DEED '' which also has the same alpha numeric sequence under " RECORDING REQUESTED BY : '' and that is the only information until the section saying that when recorded return to my parents. I do not believe that an account was hand written on the front of the reverse mortgage for no reason. I don't believe that it is included in the affidavit of death by mistake. I definitely don't believe that it was included on the grant deed from my stepdad and his deceased wife to my stepdad and my mother because there was no account to be disclosed. If it was included in the transaction it should have been disclosed in the closing statement. I will attach a copy of the California Escrow Law for your information and reference but it most certainly includes any financial information that was part of a transaction is to be disclosed and included in the closing statement. I can find no disclosures of the escrow account, its purpose, its contents, or any other mention of the account except in the two documents mentioned and then written after the fact on the first page. I have been asking for information on this account for six months. Please produce actual information as to the status and activity of the escrow account that is part of this reverse mortgage contract. 

The inclusion of the repayment agreement, dated XXXX, is also appreciated. However, I have a signed document, dated XXXX, stating that I am the authorized agent. The offer could have been utilized had it been sent to me. I never received a notice of the sale in XXXX. I also offered to pay the taxes when I knew how they were actually paid. Forgive me, but I can't keep up with who is actually handling this contract. It was Longbridge last we were aware. Reverse Vision, is on the Notice of Right to Cancel. Apparently, XXXX is who responds to all of my inquiries. But when a pay off statement was prepared XXXX XXXX  handled it. I guess it doesn't matter who has access to my parents information. I thought there was such a thing as privacy. Not sure how any one is supposed to keep that straight. 

RECAP : - escrow hand written on reverse mortgage contract, typed in the affidavit of death and XXXX deed signed XXXX - violations to HAMP - violations to TILA- violations to Ca Escrow Law