About Mutual of Omaha Mortgage

Brief Summary of Services: 

• Reverse Mortgage Loans 
• HECM for Purchase 
• Jumbo Reverse Loans 
• Refinance Loan 

Mutual of Omaha Mortgage Synopsis 

Review Summary: Mutual of Omaha Reverse Mortgage is part of a brand that has been in business for more than 100 years. It has earned high ratings for its financial strength as a company. Its reverse mortgage advisors are top-rated, and it has an A+ Rating from the Better Business Bureau (BBB). Money.com picked Mutual of Omaha Reverse for Best Customer Service in 2022.  

Recommended for: Seniors 62 and older who are looking for ways to access equity in their homes to use to supplement their income, lifestyle, or purchase a new home.  

Pros and Cons of Mutual of Omaha Reverse Mortgage 

Mutual of Omaha Mortgage Reviews 

Mutual of Omaha Mortgage Full Review 

Overview 

Mutual of Omaha Reverse Mortgage offers four main types of loans that seniors 62 or older can pursue. It is currently the second largest reverse mortgage originator in the country.  

The mortgage company provides several loan options and free calculators to assist with retirement planning.  

Mutual of Omaha Reverse Mortgage has a free Reverse Mortgage Guide that clearly explains the entire reverse mortgage process and all the options that are available to qualifying borrowers.  

Mutual of Omaha Mortgage Loan Options 

Mutual of Omaha Reverse Mortgage offers the following loans: 

• Reverse Mortgages 
• Reverse Mortgage for Purchase (HECM for Purchase) 
• HomeSafe Reverse (Jumbo Reverse Mortgage) 
• Refinance Loans 

Mutual of Omaha Reverse Mortgage Application Process 

The Mutual of Omaha Reverse Mortgage loan process is broken down into four steps:  

• Step 1: Meet with a Reverse Mortgage Advisor. In this stage, you will meet with an agent who will work through a financial review of your retirement plan with you. He or she will walk you through the different reverse mortgage options and help you determine the best option for you.  
• Step 2: Complete HUD Counseling. Before the official application can be filed, you must first meet with a counselor from the U.S. Department of Housing and Urban Development (HUD). The purpose of meeting with a HUD counselor is to ensure that you have all the information about reverse mortgages so you can be confident that it’s the right decision for you. This can be done in person or over the phone. 
• Step 3: Submit Your Application and Receive Approval. After you complete the HUD counseling session, you can officially submit your application. During this stage, your application will be processed, and an appraisal will be conducted. Underwriters will then review your application and documents, and make sure everything is ready for closing.  
• Step 4: Close and Receive Your Funds. Once you’ve received approval, a closing date will be scheduled. Once the closing documents are signed, funds will be distributed according to the method of your choosing: one lump sum, a monthly payment, a line of credit, or a combination of all of them.  

Mutual of Omaha Company Information  

Founded in 1909, Mutual of Omaha has been in business for more than 100 years.  

Mutual of Omaha Reverse Mortgage is a part of Mutual of Omaha based out of Omaha, Nebraska. It is a Fortune 300 company that offers a wide suite of products within the financial services industry including Medicare insurance, life insurance, disability insurance, traditional home mortgages, reverse mortgages, and more. 

Its mission is “to help our customers protect what they care about and achieve their financial goals.” Its vision is “for every customer . . . a financial future imagined, planned and secured.” 

Mutual of Omaha began offering reverse mortgage products in 2018 when it acquired Synergy One Lending and its subsidiary, Retirement Funding Solutions (RFS). RFS was rebranded as Mutual of Omaha Mortgage in 2020. 

Mutual of Omaha Reverse Mortgage offers the following tools on its website: 

• Reverse Mortgage Calculator 
• HECM For Purchase Calculator 
• Social Security Benefits Retirement Estimator 
• Social Security Benefits Calculator 
• Detailed Social Security Calculator 
• Reverse Mortgage Guide 

It is a member of National Reverse Mortgage Lenders Association (NRMLA) and an approved lender of the U.S. Department of Housing and Urban Development (HUD). 

As a company, Mutual of Omaha has a strong focus on community service and charitable giving. In 2005, the Mutual of Omaha Foundation was created to provide support for programs that are working to break the cycle of poverty. 

Mutual of Omaha Mortgage created the Patriots Charity Initiative to provide support to organizations that serve military members and veterans.  

All Mutual of Omaha employees are expected to adhere to a strict code of ethics that outlines the legal, ethical, and practices they are expected to follow.  

States Serviced by Mutual of Omaha Reverse Mortgage 

Mutual of Omaha Reverse Mortgage is currently licensed in 48 states and the District of Columbia. It is not licensed in New York or West Virginia.  

Office Locations 

How to Contact Mutual of Omaha Reverse Mortgage 

Mutual of Omaha Reverse Mortgage can be contacted in the following ways: 

• By phone: (800) 578-0283 
• Online: Fill out the form on this page  

Read More About This Topic:  

• A Guide to Reverse Mortgages in 2022 
• Reverse Mortgage Loan Calculator 
• Top 10 Reverse Mortgage Lenders 

All reviews updated as of 11/1/22.