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BBB Accredited Business since
Phone: (800) 218-1415 Fax: (866) 375-9742 View Additional Phone Numbers 10951 White Rock Rd Ste 200, Rancho Cordova, CA 95670 View Additional Web Addresses
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A BBB Accredited Business since
BBB has determined that Liberty Home Equity Solutions, Inc. meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.
BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.
Reason for Rating
BBB rating is based on 16 factors. Get the details about the factors considered.
Factors that raised the rating for Liberty Home Equity Solutions, Inc. include:
- Length of time business has been operating.
- Complaint volume filed with BBB for business of this size.
- Response to 3 complaint(s) filed against business.
- Resolution of complaint(s) filed against business.
- BBB has sufficient background information on this business.
Customer Complaints Summary Read complaint details
|Complaint Type||Total Closed Complaints|
|Problems with Product/Service||2|
|Total Closed Complaints||3|
Customer Reviews Summary Read customer reviews
|Customer Experience||Total Customer Reviews|
|Total Customer Reviews||0|
This business is in an industry that may require professional licensing, bonding
or registration. BBB encourages you to check with the appropriate agency to be certain
any requirements are currently being met.
These agencies may include:
Department of Business Oversight
1515 K St. Suite 200, Sacramento CA 95814
Phone Number: (866) 275-2677
National Mortgage Licensing System- NMLS
Type of Entity
Business ManagementMs. Pamela Rodriguez, Operations Marketing Manager Ms. Melody Craigie, Compliance Team Lead
Mortgage Lender Financial Services Reverse Mortgage
Alternate Business NamesGenworth Financial Home Equity Access, Inc.
Formerly Known as Genworth Financial Home Equity Access, Inc.
Products & Services
Liberty Home Equity Solutions, Inc. provides reverse mortgage services.
10951 White Rock Rd Ste 200
Rancho Cordova, CA 95670 (800) 218-1415 Directions
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BBB Complaint Process
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Additional Phone Numbers
- (916) 384-1825(Phone)
Complaint Trends - Last 3 Years
Customer Review Trends
Read Complaint Details
Complaint: GENWORTH DID THINGS WHICH WERE NOT IN MY BEST INTEREST. I WANTED TO ADD MY WIFE TO MY EXISTING REVERSE MORTGAGE. WE CONTACTED AMERICAN TRUST FUNDING MORTGAGE BANKER,LLC AND THEY SAID THAT THEY DID BUSINESS WITH GENWORTH FINANCIAL. WE PROCEEDED WITH FHA CASE NUMBER XXX-XXXXXXX AND THEN GENWORTH ALWAYS WANTED TO MAKE SOME CHANGES AND THAT CAUSED US TO HAVE TO PAY HECM COUNSELERS 2 TIMES BECAUSE GENWORTH WANTED THE APPRAISER TO MAKE CHANGES TO HIS APPRAISAL AND THEN THEY WOULD NOT ACCEPT HIS CHANGES. AFTER ABOUT 10 MONTHS WE WANTED TO TRANSFER THE CASE NUMBER TO ANOTHER COMPANY BECAUSE GENWORTH HAD REDUCED THE APPRAISED VALUE SO LOW THAT I WOULD HAVE TO PAY ABOUT $30.000 DOLLARS TO ADD MY WIFE AND THE OTHER COMPANY SAID THAT THEY MIGHT BE ABLE TO DO BETTER. GENWORTH ENTERED DATA ON SOME TRANSFER PAPERS THAT BLOCKED THE TRANSFER TO THE OTHER COMPANY UNTIL THE FHA CASE NUMBER COULD BE CLOSED OR RETIRED IN ABOUT 6 MONTHS AND WE COULD GET A NEW CASE NUMBER, WITHOUT GENWORTH BEING INVOLVED. THIS PROCESS WITH GENWORTH TOOK ABOUT 10 MONTHS. GENWORTH SENT A FORM THAT WAS CALLED FHA CONNECTION FOR APPRAISAL LOGGING AND THE FORM HAD CONFLICTING APPRAISAL DATES WHICH INDICATED A APPRAISED VALUE BEFORE THE CERTIFIED APPRAISER HAD COMPLETED AND SUBMITTED HIS FINAL APPRAISAL WHEN GENWORTH PUT IN A DATE OF 2-10-2013 AND THE CERTIFIED APPRAISAL IS DATED 2-27-2013 WHICH IS A 17 DAY DIFFERENCE. ARE THE GENWORTH PEOPLE THAT CHANGED OR CAN CHANGE THE APPRAISAL FROM A CERTIFIED AND LICENSED APPRAISER,CERTIFIED AND LICENSED TO DO APPRAISAL THEMSELVES? IF GENWORTH DID NOT WANT TO DO THE REVERSE MORTGAGE,WHY DID THEY NOT JUST DECLINE? GENWORTH CHANGED THEIR NAME TO LIBERTY HOME AFTER WE STARTED THE PROCESS
Desired Settlement: FIX THE PAPER WORK SO THAT WE CAN TRANSFER THE CASE NUMBER OR GET A NEW NUMBER INDEPENDANT OF GENWORTH /LIBERTY HOME.
Business' Initial Response
BBB's Final Determination: After reviewing the position of all parties, BBB determined that the business made a reasonable effort to address the complaint. However the consumer remains dissatisfied.
Problems with Product/Service
Read Complaint Details
Complaint: Started reverse mortgage w/Liberty, decided to transfer to another company. Difficulty getting appraisal transferred even though procedures followed. Case#XXX-XXXXXXX. We started a reverse mortgage with Liberty Home Equity Soluctions, Inc. but decided to change companies. Signed all papers required to do this. Only thing left was for Liberty to release the appraisal. 2/13/13, instructions received for release: cashier's check payable to Liberty in amount of $400 with invoice was to be sent to attention of ***** ******, Liberty Home Equity, Suite 200, Rancho Cordova, CA XXXXX-XXXX. Per instructions, if cashier's check sent to Ms. ******'s attention, appraisal would be released the same day as received. If not sent to her attention check would likely be forwarded to finance dept which could cause a 3-7 business day turn-time. If personal check sent, there is an automatic 5 day hold. 2/14/13, a cashier's check in the amount of $400 along with invoice was sent as instructed to Ms. ******'s attention via UPS overnight delivery. 2/15/13, verification from UPS shows delivered at 9:09 AM, signed by FINE. A letter dated 2/20/13, was sent from Liberty with invoice requesting the $400 payment for the release. This was received 2/23/13 by us. Monday, 2/25/13, an e-mail was sent to Ms. ****** to find out what was going on. That is when it was found that she was out of the office 2/18/13 thru 2/25/13. Tuesday, 2/26/13, Ms. ****** was called and she stated she didn't know where the check was. Yet, she was not out of the office until the 18th per her e-mail. 3/1/13, Liberty states they cannot locate the check, could we please furnish the check number. 3/2/13, via e-mail a copy of the cashier's check, mailing label, and written verification from UPS as to when delivery was received. Realize 3/2/13 was a Saturday but by end of the day today, Monday, 3/4/13, we have heard nothing from Liberty. Since there are only so many days the appraisal is good, we are working on a time schedule. It is necessary this matter be corrected as soon as possible. Per telephone call with our bank today, Monday, 3/4/13, cashier's check #XXXXXX went thru our bank Friday 3/1/13.
Desired Settlement: First would like our appraisal released to the other company immediately. And second,since we followed all instructions to the letter and it is now the 12th work day since they received our cashier's check, we feel they owe us the $61 it took to overnight the check and invoice to Ms. ******** attention.
Business' Initial Response
BBB's Final Determination: Consumer accepted resolution offered by the business.
Problems with Product/Service
Read Complaint Details
Complaint: Failure to obtain reverse mortgage and reasons why. Poor customer service. After answering a internet add for Reverse Mortgage, we were contacted by Mr. Craig Prentice and agreed to meet with him. On July 26, 2012 my wife and I met with a Genworth Financial Advisor,Craig Prentice,in our home.Our first concerns were: can we get a reverse mortgage for our manufactured home? Yes,was the answer. If it is on a our own lot and sitting on a permanent foundation, it is. We then filled out and signed paper work to obtain a reverse mortgage. It was understood that we had no funds to pay for the appraisal fee, that it would be payed through the reverse mortgage proceeds. About three weeks later,no word from the Advisor, Meanwhile,during those three weeks our manufactured home is appraised. I called Mr. Prentice and asked him, how our reverse mortgage paper work is doing, assuming title companies and such were working on it, he tells me he was on vacation and does not know, he will get back to me. A week goes by and he calls back. He tells me our home is too old by 4 years. What? Our home was built in 1992. According to him, Genworth will not do loans on manufactured homes later than 1996. I say,Mr Prentice should have known that his company does not do loans on manufactured homes older than sixteen years old! It's a deal breaker!We would not have gone through all the paper work. The fee for the appraisal was to come out of the loan proceeds, my wife and I have no monies to pay for the appraisal. Mr. Prentice says he will try something else. Weeks go by of trying to get a hold of Mr Prentice by phone and email. He finally sent us a email on Oct. 5,2012. that he cannot do anything because of the appraisal fee. I then sent him an email offering to find someone to loan us the amount for the appraisal fee ,or he should pay it and we would pay him back with the loan proceeds after it goes through. No answer from him to date. WE ARE VERY CONCERNED NOW! I have sent an email to Genworth Financial on Wednesday,October 17,2012 asking their version of what has happened to our reverse mortgage application and telling them about the poor customer service we have received by Mr Prentice. No response yet. Today, is October 20,2012. I asked for a timely response. I am afraid of identity theft here. Have they processed the paper work to HUD or FHA to get my reverse mortgage loan proceeds for themselves ?
Desired Settlement: I want a full explanation of what has happened to our reverse mortgage application and a written apology .We feel that they should not or will not bring legal proceedings against us to pay for the appraisal fee and the HUD counseling fee. Unless ALL original paper work is returned to us, including the formal appraisal paper work and such.
Business' Initial Response
BBB's Final Determination: Business offered a resolution. Consumer did not pursue further with BBB and the matter was assumed to be resolved