Consumer complaint received 2016-02-11
Product: Mortgage — Reverse mortgage
Issue: Loan servicing, payments, escrow account — 
Company: Reverse Mortgage Solutions, Inc. (MN)

Dear XXXX or XXXX XXXX XXXX, XXXX I am contacting you at the suggestion of MN Attorney General XXXX XXXX. I contacted the MN Attorney General 's office XXXX XXXX, XXXX because of grave concerns regarding Reverse Mortgage Solutions ( RMS ), ( subsidiary XXXX XXXX ) business practices and how they use stalling tactics coupled with poorly trained customer service reps who loose paperwork, are rude, tell me I have done something wrong, etc., to keep me from purchasing my family property at 95 % of current market value. 
In XXXX, XXXX my mother was coerced into signing a reverse mortgage on a house that had been paid for many years. Mom was thinking this was some how the end to her financial worries, as promised, because like her and so many elderly victims of this kind of abuse, she had more dollar value in property than she had in liquid cash. This mortgage company and others like it prey on the weak and elderly. These companies operate with little to no over-site by state and federal government and steal equity and property from occupants and heirs. If RMS was playing by the rules set forth by HUD XXXX, I would not be writing to your agency. 
The FHA case number to the loan is : XXXX. It is my understanding that as her heir, daughter, I am entitled to purchase the property for 95 % of market value as stated in her closing papers from " XXXX XXXX XXXX '' and the paper work that was delivered to my dead mother 's mailbox dated XXXX XXXX, XXXX from RMS. I am a cash buyer so I did not require loan approval or funds. 
I have clearly stated to RMS I am interested in purchasing the property several times over. 
My mother passed away XXXX/XXXX/XXXX, was buried XXXX/XXXX/XXXX, and Reverse Mortgage Solutions ( RMS ) was notified of her death XXXX/XXXX/XXXX by my sister. She called the RMS the customer service number noted on Mom 's monthly statement. 
A condolence letter dated XXXX/XXXX/XXXX was delivered to my dead mother 's mailbox via US mail even though RMS knew she was dead and I was listed as the contact person for my mother 's RMS account. Every year, mom had to sign a paper stating she was still living in her house ( occupancy ) and clearly state who to contact if RMS needed to do so. That was my first red flag with this company - many, many more were to come as I continued to deal with RMS. 
I called RMS general customer service number only after leaving several messages with XXXX XXXX, my POC who was suppose to guide me through the process. I only talked to XXXX 's voice mail, never to her in person. Her VM stated she would return calls within 48 hrs. Well, that NEVER happened!! I have yet to talk to XXXX. Plus, the extension to the telephone number listed on the paperwork never did work!! Any time I attempted to call XXXX, I would go through the customer service number - the same XXXX my sister used. 
I was told by RMS customer service to state my intentions of what I want to do with the house. I clearly marked the box that stated the 95 % pay off option ( which was explained to me by RMS that meant current market value ) and Faxed the letter back. I kept the cover sheet from the Fax transaction clearly stating the Fax was indeed sent and received correctly. Additionally, I hired a probate attorney on XXXX/XXXX/XXXX to represent the estate through the probate process. 
RMS has illegally accelerated foreclosure proceedings on the property. According to HUD guidelines, I had 9 months before that was to begin. RMS has made a complete mess out of this seemingly easy transaction and with no legal oversight by state and federal regulators, RMS continues to conduct business in an injurious manner. 
( in order to continue this form I checked Making Payments, does not fully apply )