Geneva Financial - Tony Costabile complaints

I appreciate the opportunity to reply the above complaint and to clarify some of the inaccuracies in Ms. Pancini comments. First, Ms. Pancini sadly was not fully approved nor was she ever told she was for the reverse mortgage as she indicated, she did in fact complete and apply a mortgage with myself as the loan originator, which in turn I submitted to the end-lender, Longbridge Financial for approval. At the time of application she provided us with the payment information and signed authorization form needed to order and charge her for the appraisal on her property, which was included with her completed loan application that was provided to Longbridge. Respectfully, Ms. Pancini never requested that anyone contact her before the charge going through for the appraisal, had she done so, I could have relayed that to Longbridge to see if there was a way they could do so. I agree with her that Longbridge should have done their due-diligence reviewing her application and Pre-Approved her before ordering the appraisal, but once again that is something was out of my hands and had no control over. Over the next few months, I diligently worked with both Ms. Pancini and the Lead Underwriter Team at Longbridge to do everything possible to get her loan application approved, but at the end they were unable to do so due to the fact she lacked the required "Residual Income" required to secure the mortgage she requested. As I previously stated, I agree with her that the appraisal should not have been ordered before Longbridge reviewed her application for approval, and I requested more than once to Longbridge to refund her the full amount which they were unwilling to do so. I reached out to Geoff Bench once again after receiving and after forwarding them a copy of this complaint, (who is our Account Manager with Longbridge) and they now agreed to credit her back the remaining $350 for the cost of the appraisal.

Read More

Update: I just wanted to reach out and advise you that Ms. Panici has been reimbursed IN FULL for the cost of the appraisal of $515.00 from Longbridge Financial, at first they only reimbursed her half in the amount of $258.00. After reaching out to them again, they did agree and reimbursed the balance of $257 due to her, which she has confirmed receiving it back from them. As I stated before Longbridge nor myself can be expected to be liable for her over-draft fees as she did not request anyone to notify her when they would be depositing her check – again, this is completely handled by the appraisal company. ***************** I advised Ms Pancini on 07-15-2022 that Longbridge agreed to refund her the remaining $350 for the cost of the appraisal - she contacted you again on the 17th stating she has not recieved the balance due to her yet... Repectfully, please advise her that I believe it will take more than 24hrs for Longbridge to go through the process of getting the check cut and mailing it out to her. I recomend to advise her if she does not recieve her refund within 7-10 business days to contact me and I will put her in direct contact with Longbridge if the need arises.

Read More

I appreciate the opportunity to reply the above complaint and to clarify some of the inaccuracies in Ms. Pancini comments. First, Ms. Pancini sadly was not fully approved nor was she ever told she was for the reverse mortgage as she indicated, she did in fact complete and apply a mortgage with myself as the loan originator, which in turn I submitted to the end-lender, Longbridge Financial for approval. At the time of application she provided us with the payment information and signed authorization form needed to order and charge her for the appraisal on her property, which was included with her completed loan application that was provided to Longbridge. Respectfully, Ms. Pancini never requested that anyone contact her before the charge going through for the appraisal, had she done so, I could have relayed that to Longbridge to see if there was a way they could do so. I agree with her that Longbridge should have done their due-diligence reviewing her application and Pre-Approved her before ordering the appraisal, but once again that is something was out of my hands and had no control over. Over the next few months, I diligently worked with both Ms. Pancini and the Lead Underwriter Team at Longbridge to do everything possible to get her loan application approved, but at the end they were unable to do so due to the fact she lacked the required "Residual Income" required to secure the mortgage she requested. As I previously stated, I agree with her that the appraisal should not have been ordered before Longbridge reviewed her application for approval, and I requested more than once to Longbridge to refund her the full amount which they were unwilling to do so. I reached out to Geoff Bench once again after receiving and after forwarding them a copy of this complaint, (who is our Account Manager with Longbridge) and they now agreed to credit her back the remaining $350 for the cost of the appraisal.

Read More

Update: I just wanted to reach out and advise you that Ms. Panici has been reimbursed IN FULL for the cost of the appraisal of $515.00 from Longbridge Financial, at first they only reimbursed her half in the amount of $258.00. After reaching out to them again, they did agree and reimbursed the balance of $257 due to her, which she has confirmed receiving it back from them. As I stated before Longbridge nor myself can be expected to be liable for her over-draft fees as she did not request anyone to notify her when they would be depositing her check – again, this is completely handled by the appraisal company. ***************** I advised Ms Pancini on 07-15-2022 that Longbridge agreed to refund her the remaining $350 for the cost of the appraisal - she contacted you again on the 17th stating she has not recieved the balance due to her yet... Repectfully, please advise her that I believe it will take more than 24hrs for Longbridge to go through the process of getting the check cut and mailing it out to her. I recomend to advise her if she does not recieve her refund within 7-10 business days to contact me and I will put her in direct contact with Longbridge if the need arises.

Read More