Longbridge Financial alleges that Mutual of Omaha Mortgage's websites are deceptive and violate RESPA and FTC guidelines, seeking restitution and an injunction.
Longbridge claims that Mutual of Omaha's associated companies mislead consumers into believing they are independent, when in fact, they serve as a lead generation tactic.
The lawsuit emphasizes the alleged false ratings given to Mutual of Omaha, stating they are based on skewed criteria, misleading consumers in the reverse mortgage market.
The legal dispute highlights significant ethical concerns in the reverse mortgage industry, where marketing practices and transparency are under scrutiny, potentially affecting consumer trust.
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