The Liberty Iron Clad Guarantee
At Liberty Home Equity Solutions, Inc. (Liberty) we are committed to delivering exceptional client service and value.
- You will receive fair and competitive pricing — every time. As part of our PRICING PROMISE, if we cannot match or beat a competitor’s program offering, we will issue you a $100 VISA® GIFT CARD.1
- You can expect to close your loan within 60 days or less from the date we receive your loan application and HUD Counseling Certificate. As part of our Closing Commitment, we will issue you a $500 CREDIT TOWARD YOUR CLOSING COSTS if we cannot close your loan in 60 days or less. Our CLOSING COMMITMENT applies to eligible property and product types only.2
- You can reach a live person rather than voicemail during business hours (9AM-5PM PST) who can answer all of your questions in a knowledgeable and courteous manner.
- You can complete the entire loan application process in the comfort of your home if you choose.
- You can expect to work with a dedicated team of experts who will provide weekly updates throughout our easy, 5-step loan process.
- You can change your mind or stop the process at any time prior to the funding of your loan.
- We will always safeguard your personal information.
1 Pricing Promise Details:
Liberty Home Equity Solutions, Inc. (Liberty) is committed to providing fair and competitive rates and terms for our customers. When you apply for a reverse mortgage loan with Liberty, we promise that our program offering will be competitive with other reverse mortgage product offerings in the marketplace. Program offering is defined as the combination of the interest rate and Net Loan Origination Fee (the Loan Origination Fee minus any Lender Credits). We are prepared to match or beat the program offering of any HUD approved reverse mortgage company.
If we cannot match or beat a competitor’s program offering, we will issue you a $100 VISA® Gift Card (“Gift Card”). Please allow 4-6 weeks for delivery of the VISA® Gift Card.
2 Closing Commitment Details:
We are committed to closing each and every loan as quickly and efficiently as possible. If we cannot close your loan within 60 days or less of receiving your loan application and HUD Counseling Certificate, we will issue you a $500 credit toward your closing costs.
This offer applies to clients who use “best-efforts” to provide the necessary documentation in a prompt manner to allow us to complete the underwriting and funding process on a timely basis.
- Does not apply to HECM for Purchase products per regulatory requirements.
- Does not apply to loan applications that do not meet FHA eligibility requirements.
- Does not apply to loan applications that are cancelled prior to closing.
- The $500 credit cannot exceed total closing costs and cannot be used to pay for HECM Counseling.
Program Terms/Conditions (“Official Rules”)
- NO PURCHASE NECESSARY. No purchase of a product or service from Liberty is required in order to be eligible. Void where prohibited. Subject to all federal, state, and local laws.
- ELIGIBILITY. You must be a legal resident of the 50 United States or the District of Columbia and otherwise meet the qualification requirements for a HECM reverse mortgage product. Must meet financial eligibility criteria as established by HUD. Employees and immediate family members (parents, siblings, children and spouse) of employees of Liberty or its affiliates are not eligible.
- DEFINITIONS. A “Program Offering” is defined as the combination of interest rate and Net Loan Origination Fee (Loan Origination Fee minus any Lender Credits).
- TIMING. Competitive pricing quotes must be presented in the form of a legally binding Good Faith Estimate issued by a HUD approved lender within thirty (30) calendar days of the date Liberty receives your application for a reverse mortgage loan. The Liberty Pricing Promise is subject to change or cancelation at any time and without notice.
- CONDITIONS AND CONFIDENTIALITY. By submitting a legally binding Good Faith Estimate issued by a HUD approved lender to Liberty, you understand and agree that the information contained therein will be treated as confidential, will be used only for purposes related to the Liberty Pricing Promise and will not be distributed, sold or otherwise transmitted outside of Liberty. You further understand that your name may be listed (together with your pricing results) for statistical and/or regulatory requirements without further compensation to you or review by you. The Good Faith Estimate submitted will not be returned to you. Participant further agrees to release Liberty from any and all claims related to such limited use by Liberty, including any commercial advertising presentation, web content or any other material subsequently produced, presented and/or prepared by or on behalf of Liberty.
- Exclusions: The Liberty Pricing Promise excludes the HECM for Purchase product and offers from Liberty –approved partners.
- RELEASE OF LIABILITY. Each participant, by receipt of the Liberty pricing offer or the Gift Card (in the event Liberty is not able to match or beat a competitor’s “Program Offering”, agrees on behalf of him/herself, his/her heirs, executors, representatives, assigns, administrators and next of kin to indemnify, hold harmless and release Liberty and its affiliated businesses and each of their officers, directors, shareholders, employees, advisors, assignees, agents, representatives and any other person or entity associated with the Liberty Pricing Promise from any and all liability, claims or actions of any kind with respect to or in any way arising from the Liberty Pricing Promise, participation in the Liberty Pricing Promise activity; and/or deliver or misdelivery, acceptance, possession, use, or misuse of any information provided. Liberty is not responsible for any incorrect or inaccurate information, whether contained on the Liberty Web site or program materials associated with or used in the Liberty Pricing Promise or caused by any technical or human error that might occur in the processing of Liberty Pricing Promise Rules. Liberty assumes no responsibility for any error; omission; interruption; deletion; defect; delay in operation or transmission; communications-line failure; or theft, destruction, unauthorized access to, or alteration of program materials. Any activities intended to disrupt or interfere with the proper implementation and operation of the Liberty Pricing Promise or to defraud Liberty in any way will be prosecuted to the fullest extent of the law. Participants who engage in any of the foregoing activities will be disqualified and will forfeit any benefits obtained. If, for any reason, in the sole opinion of Liberty, an event occurs which could corrupt or affect the administration, security, fairness, integrity, or proper conduct of the Liberty Pricing Promise or otherwise jeopardize the privacy of the information obtained, Liberty reserves the right, at its sole discretion, to cancel, terminate, modify, or suspend the Liberty Pricing Promise. Liberty is not responsible for any typographical or other error in the printing of these Official Rules or any materials associated with the administration of the Liberty Pricing Promise. In all events, the sole maximum liability of Liberty and its affiliates shall be limited to the cash value of the Gift Card or One Hundred Dollars ($100.00), whichever is less.
- CHOICE OF LAW. Except where prohibited by law, all issues and questions concerning the constitution, validity, interpretation and enforceability of these Official Rules, or the rights and obligations of the participant and Liberty in connection with the Liberty Pricing Promise, shall be governed by, and construed in accordance with, the laws of the State of California in the U.S., without giving effect to any choice of law or conflict of law rules (whether of the State of California, or any other jurisdiction), which would cause the application of the laws of any jurisdiction other than the State of California in the U.S.