I was looking to refinance to pay off credit card and personal debt. I had a credit score in the low 700’s and a high DTI. I was told by a Mortgage Loan Originator from Mutual of Omaha Mortgage (MOOM), that my home's price range came in between $630,000 and $670,000 and set the estimate at $650,000. I had to pay the appraisal fee of over $500 which I could not afford. The MLO told me to put it on one of the credit cards that would be paid off with the proceeds of the refi. The appraiser they sent was unprepared to do what she had been paid to do. She forgot her ladder and asked to borrow mine. I was very hesitant to allow this because if she was injured while using my ladder it would be my liability. But I caved in after she said she would not be able to get into the attic, where the new HVAC system had been installed. I received a copy of the appraisal which was $50,000 under the estimate. There was crucial information on the appraisal that was inaccurate or missing. I contested the appraisal, but the appraiser refused to change any information. I found out through public records that in late 2020 this appraiser settled disciplinary action against her by the state’s Real Estate Division for conduct violations. I brought this to the attention of the MLO and requested a full or at least, partial, refund because I questioned the appraiser’s competency. He refused, stating the appraisal was completed. I approached another company. This rep for this company asked me if I was aware that MOOM changed me from a conventional to an FHA and if I understood the difference. As he was explaining what the implications were, I realized this was not clearly communicated by MOOM. I moved forward with the other company and oddly enough their appraiser valued my home at $670,000. Use extreme caution when dealing with of Mutual of Omaha Mortgage. Question everything.
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The Mutual of Omaha Insurance Company has been helping customers since 1909. Inspired by hometown values and committed to being responsible and caring for each other, we exist for the benefit of our customers.
And, like our customers, we thrive on relationships and building genuine, enduring connections. As a Mutual company our focus isn’t about increasing share prices. It’s helping customers reach their financial goals.
What that means if you’re considering a new home purchase or refinance, you can feel secure knowing Mutual of Omaha Mortgage exists solely to do right by our customers, every time.
We understand that to some companies a loan is a loan is a loan. That’s not us and it’ll never be. Buying (or refinancing) a house is more than a financial decision. It’s the promise of a life you want to build and the memories you want to make. And that’s why before we talk home loan solutions, we focus on you and your needs.See more
