ComplaintsforSouth River Mortgage, LLC
Reverse Mortgage
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Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
02/15/2024
- Complaint Type:
- Order Issues
- Status:
- Resolved
I was urged to complete all of the requested details for an application for a reverse mortgage. On February 6, 2024 I signed the final papers with the notary who said that the papers would be filed that night. My agent at South River mortgage was Austin ********* who assured me that the reverse mortgage would be funded within 4 to 5 business days. It’s now February 14 Valentine’s Day and I have not received any funds.Initial Complaint
05/23/2023
- Complaint Type:
- Customer Service Issues
- Status:
- Answered
I was shopping around for a new reverse mortgage. Got a solicitation in the mail, so I checked out this company. Took forever to get any news and also was deceived with the loan, first of all appraisal is wrong. This house comps over 420k with all work put into it, and these are professional comps. Also 38k in fees to leave me 6000+ for this refi. Sean W***** said I was approved and just waiting for a lady to come in on Monday. I get slammed with 30+ things they wanted. I already gave my personal information and banks statements, etc. Deceptive practices. I have been a loan officer and this is not how you do business. I have been in real estate for 55 years. This company is taking all the equity from senior citizens and leaving them with pennies. I am asking for all personal and confidential information to be destroyed immediately and a refund for the 150 I paid for counseling services. And why would you asked about a property I lived at when I was in my 40s and other irrelevant information. I have dealt with many underwriters and this is ludicrous. Destroy my files and refund my my counseling I did for nothing. Too many deceptive practices .Business response
05/30/2023
BBB Notes the business provided a detailed response marked Confidential and Sensitive Information and it has not been published.Customer response
05/30/2023
Complaint: ********
I am rejecting this response because: Deceptive practices against seniors known as predatory loans, I have have proof there was no knowledge of a life expectancy set aside from Mr. W*****, nor have I approved or known anything about. I want all my information destroyed asap
Sincerely,
**** ****** *** ************Initial Complaint
05/15/2023
- Complaint Type:
- Customer Service Issues
- Status:
- Answered
Ever since I received my reverse no from AAG .. this company keeps sending me letters threatening if I don’t take out their policy I will be in trouble ?? This company has nothing to do with AAG Total deception in scaring people!! I CALLED the company and they were nasty. Name calling and threatening. I want this to stop ??! South River Mortgage 888 709 6350 Donna BellomoBusiness response
05/19/2023
Please see attached "SRM Response ***** *******.BBB.Complaint.ID #****************"
The Business has provided a detailed response marked confidential and the details will not be published.
Initial Complaint
11/03/2022
- Complaint Type:
- Customer Service Issues
- Status:
- Answered
I called this company to get a reverse mortgage. I dealt with an individual, And he is actually the one I want to complain about, his name is Maxwell G******** and that is his number that i put on the form. They had me get an assessment on the house for it's worth and then they had to get a second one that that I wasn't supposed to pay for but I ended up having to pay for both of them, and I had to have the underneath of my house my house make sure it was up to snuff I have call Maxwell and requested a number of times and texted him a number of times asking for those reports I paid for on my have a right to have them he will not send them to me and that's what I'd like you guys to do is force him to send them to me I paid for him I have a right to have him. Thank youBusiness response
11/14/2022
Business Response /* (1000, 5, 2022/11/04) */ Please see attachment entitled "", which was sent to the consumer on October 24, 2022, prior to this November 3, 2022 complaint.Initial Complaint
09/23/2022
- Complaint Type:
- Customer Service Issues
- Status:
- Resolved
They do not return my phone calls, voicemails or emails. They are supposed to be helping with the reverse mortgage process. They constantly say someone should be calling in the next few days, it's been over a month and still no return calls about an inspection.Business response
09/30/2022
Business Response /* (1000, 5, 2022/09/28) */ The business has provided a response that is marked Confidential. BBB has not posted the details of this response. Consumer Response /* (2000, 7, 2022/09/29) */ (The consumer indicated he/she ACCEPTED the response from the business.)Initial Complaint
05/20/2022
- Complaint Type:
- Delivery Issues
- Status:
- Answered
I am trying very hard to get a copy of what I paid for, please HELP! I started working with mortgage broker South River in November 2021, also in November 2021, I was advised that I needed to complete HUD Counseling as required for the FHA ******* Mortgage program, completed on 11/3/2021. In March 2022, South River scheduled an appraisal for my home and I PAID FOR THE APPRAIAL at the time of the inspection. After more than 6 months of trying to work with South River, I was compelled to contact the servicer of my existing reverse mortgage to see if they could help. My existing servicer was ready willing and able to help. The FHA Case number was successfully transferred from *** to my current servicer. When the case was transferred by ***, they advised that the appraisal had never been uploaded to them for consideration. "Hello ******* and thank you for your patience. Please see below. Loan was never submitted and we are not in receipt of any appraisal. Thank you." On 5/18/2022, I called South River again to request a copy of what I already paid for. On 5/19/2022m I called again and received a return call from the management team advising they had already emailed a copy of the appraisal and XML file to the new loan company on May 12th 2022. The email has not been received. I called back to see what email address they sent to but have yet to receive a return call. I called the same manager again and he refused to send the appraisal to me directly and further refused to verify the address they sent it to on the 12th. My HUD Counseling certificate is now more than 6 months old and has expired. If South River continues to refuse to provide what I paid for, I will be forced to go through HUD Counseling again, causing additional financial hardship. Can you please assist in getting a copy of the appraisal and XML file sent to ***********************@**************.com? Please help *******Business response
06/14/2022
Business Response /* (1000, 5, 2022/05/31) */ The business provided a response via PDF document that is marked "confidential". The details are not published.Initial Complaint
03/01/2022
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
My parents are over 90 and we're solicited by South River Mortgage by mail. My 95 year old dad came very close to giving away whatever equity he had in his condo to these people. They got personal information out of him. What seems really off is the solicitation letter was sent to the wife who is an invalid and not on the current mortgage. This company and the sales reps are not answering the phones. I don't even know if this business is legitimate and am very concerned.Business response
03/08/2022
Business Response /* (1000, 7, 2022/03/07) */ ***********, Thank you for taking your time to express your concern. South River Mortgage, like many other companies, uses public record information when gathering data for marketing purposes. South River Mortgage in no way intends for our marketing pieces to be a burden but an opportunity. We can remove your parent's information from our marketing system to ensure that no additional pieces are received. If this is agreeable, please provide the name that appeared on the letter. Thank you. Consumer Response /* (3000, 9, 2022/03/08) */ (The consumer indicated he/she DID NOT accept the response from the business.) I understand the explanation of the mass mailings to solicit for a reverse mortgage. What is not acceptable is that once they found out that ************** was 95 and his wife ******* (bedridden and with dementia) just a few years younger they proceeded nonetheless to try and get them to do this deal which would have been extremely unfavorable for them. The mailer was to ******* ******, which ******* did not notice and they did not ask to speak to the person they actually solicited. They got personal information out of my dad and ran a credit check on him, which is a ding on his credit rating. I tried calling the phone number on the solicitation offer and the number did not work. , Once I spoke to Bennet at South River myself by calling his cell, he said he was doing this as they had a balloon payment in 400+ months. Not only was that wrong, but why would someone who is 95 be concerned about a balloon payment when he would be over 120 years old? None of what he represented to me made any sense for these very elderly people. Furthermore as they do not operate in Florida, they are not familiar with the borrowing rules there and their offer would not be allowed in the state, Companies such as South River that prey on the elderly with diminished capacity as well as hearing issues, need to realize that they are predatory. Bennet from South River was very disingenuous I have already put ******* ****** and ************** on the Do Not Solicit national list.Initial Complaint
02/10/2022
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
Received this letter and others from South River Mortgage. I'm not interested in what they are offering, they are persistent. It would be very nice if they could be stopped from contacting us. Is this possible?Business response
02/23/2022
Business Response /* (1000, 7, 2022/02/16) */ Mr. ******, Thank you for taking your time to express your concern. South River Mortgage, like many other companies, uses public record information when gathering data for marketing purposes. You have now been placed on our "Do Not Mail" list. You may receive an additional mail piece as it takes time for the adjustment in our marketing. Respectfully, Elyse J******Initial Complaint
01/14/2022
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
I received a "FHA HECM" Notice from South River Mortgage today. I have never had any contact or interaction with this company. After reading multiple descriptions of their unethical business practices, I refuse to directly contact the group. Although I have never had an HECM, the intended purpose of the sender was immediately identifiable. The notice contains inaccurate personal financial information, and the contents are purposely vague, false, and misleading. Since your website contains documentation of SRM's long history of sending unsolicited notices and mistreating the intended victims who have requested removal from their files, I am asking the BBB to notify SRM, request removal of all of my contact information from their files, and to be included in their "do not contact/send mail" list. The phone number provided in the notice requesting a response is 888-709-6350. Thank you.Business response
01/25/2022
Business Response /* (1000, 5, 2022/01/19) */ To Whom It May concern: This letter is in response to a customer complaint from Ms. *************. Ms. *******, Thank you for taking your time to express your concern. South River Mortgage, like many other companies, uses public record information when gathering data for marketing purposes. I have consulted with our marketing department and confirmed that you have been placed on the Do Not Mail list. Thank you, Anna G*****Initial Complaint
01/14/2022
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
Like other complainants, I have received now two letters from South River Mortgage. The letters confused me. But I decided to call the number after I got the 2nd letter. I waited on hold for a very long time, during which I decided to look up this company online. The first result was regarding a scam, linking to the BBB site. I hung up the phone and wrote this complaint. This company is sending disingenuous marketing letters.Business response
01/25/2022
Business Response /* (1000, 5, 2022/01/19) */ To Whom It May concern: This letter is in response to a customer complaint from Leslie G*****. Thank you for taking your time to express your concern. South River Mortgage, like many other companies, uses public record information when gathering data for marketing purposes. I have consulted with our marketing department and confirmed that you have been placed on the Do Not Mail list. Thank you, Anna Greene
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Contact Information
Customer Complaints Summary
13 total complaints in the last 3 years.
5 complaints closed in the last 12 months.