Longbridge Financial, LLC

Price Match Advantage Program Terms of Use and Promotional Rules

Updated: February 21, 2025.

Longbridge Financial, LLC (“LBF”) offers a Price Match Advantage program (“the Program”): if you’re shopping around for a reverse mortgage and we are unable to match or beat a HUD approved competitor reverse mortgage lender’s pricing, we’ll give you a $500 gift card (the “Reward”) after you fund your loan with the competing lender. The Program is subject to the terms, conditions, and promotional rules provided on this page.

Price Match Program Terms and Conditions and Promotional Rules (“Official Rules”):

NO PURCHASE OR PAYMENT NECESSARY TO PARTICIPATE IN THIS PROGRAM: Purchase of a product or service from LBF is not required in order to be eligible.

ELIGIBILITY

In order to be eligible for the Program, a participant must be a legal resident of the 50 United States or the District of Columbia and meet the qualification requirements for a HECM or proprietary reverse mortgage product (the “Participant”). The Participant must meet financial eligibility criteria as established by lender for a proprietary product or HUD for a HECM. Employees, officers, managers and directors of LBF, LBF’s parent companies, contractors, subsidiaries, distributors, sales representatives, retailers, advertising and promotion agencies, and any others engaged in the development, production, execution or distribution of this Program (the “Program Entities”) and the immediate family members (parents, children, siblings or spouse, regardless of where they live, or persons living in same household, whether related or not) of such employees, officers, managers and directors are not eligible to participate. Void outside of the United States and wherever else restricted or prohibited by law. In addition, as part of participation in the Program, if LBF cannot match or beat a competitors Program Offering, a claims form (the “Claims Form”) must be requested, completed and submitted by the Participant per the Claims Form process. Based upon the information provided, eligibility will be further determined. If Participants do not meet the screening criteria, they will be disqualified and ineligible for the Program. By participating, you agree to these Official Rules and all decisions of LBF which are final and binding in all respects.

DEFINITIONS

A “Program Offering,” is defined as the price, including the all-in margin and net closing costs after lender credits. The Program Offering only applies to a similarly structured reverse mortgage from a HUD approved competitor lender. A similarly structured reverse mortgage must be for the same property, term, product type, discount points, mortgage loan amount, and loan to value with the same or lower total closing costs and APR.

“Loan Comparison,” for the Purposes of this Program, a Loan Comparison shall have the same meaning as a Loan Estimate. The terms will be used interchangeably.

“Initial Price Match Documents,” is defined as the dated competing HUD approved lender’s issued Loan Comparison, Amortization Schedule and Total Annual Loan Cost.

“Final Price Match Documents,” is defined as the dated copy of the competing HUD approved lender’s Final Signed HUD1 Settlement Statement, Final Loan Comparison, Final Amortization Schedule, and Final Total Annual Loan Cost.

“Claims Form,” is defined as the dated LBF claims form that must be requested, completed and submitted by the Participant per the Claims Form process.

EXCLUSIONS: This offer:

  1. does not apply to offers from LBF approved Wholesale partners;
  2. does not apply to loan applications that do not meet FHA or propriety product eligibility requirements;
  3. does not apply to loan applications that are canceled prior to funding;
  4. is not available for employees of competing lenders and/or affiliates of competing lenders;
  5. is only valid in states where LBF is currently licensed to originate and solicit loans;
  6. is not available for refinances of loans originated by LBF within 6 months of funding date;
  7. cannot be combined with any other promotion;
  8. is void if the loan terms or conditions on which the price match was based change prior to funding;
  9. is subject to LBF’s right to rescind or modify the terms of this offer without prior notice;
  10. is not a firm offer, it does not guarantee loan approval, nor is it an offer or commitment to lend. A final loan decision cannot be made until a complete mortgage application and supporting documentation is received and verified. Loan approval is also subject to standard underwriting guidelines, investor conditions and receipt of a satisfactory appraisal and title report;
  11. does not apply to LBF’s own rate which cannot be used as the basis for a competitive rate price match;
  12. only applies to a similarly structured reverse mortgage from a HUD approved competitor lender. A similarly structured reverse mortgage must be for the same property, term, product type, discount points, mortgage loan amount, and loan to value with the same or lower total closing costs and APR;
  13. is subject to LBF’s reserved right to verify that the competitor lender’s Program Offering is accurate and will determine the accuracy of the competitor lender’s Programing at its sole discretion;
  14. is available through LBF’s retail channel only.

HOW TO PARTICIPATE

In order to participate in the Program, the Participant must have requested a price match from an LBF Mortgage Loan Originator and presented the competitor’s completed Loan Comparison (Estimate), Amortization Schedule and Total Annual Loan Cost (the “Initial Price Match Documents”). Participants requesting a price match must obtain the Initial Price Match Documents from the competing lender that are dated no more than seven (7) days prior to the date they are presented to their LBF Mortgage Loan Originator. Written confirmation from LBF as well as a dated LBF issued Loan Comparison will serve as documentation that LBF was not able to match or beat the Program Offering of a competing HUD approved lender when the price match request was made along with the completed competitors Initial Price Match Documents. Alternative documentation used to show competitor’s Program Offering. will not be accepted. The Initial Price Match Documents from a competitor are required to be provided to LBF. In addition, to be eligible for a Reward in the event LBF cannot match or beat a competitors Program Offering, a claims form (the “Claims Form”) must be requested, completed and submitted by the Participant per the Claims Form process.

Participants that successfully complete and submit a verified Claims Form in accordance with these Official Rules as determined by LBF will result in Participants becoming “Qualified Participants”. Only Qualified Participants are eligible to receive a Reward. Failure to complete the necessary steps and provide the required information in their entirety will result in Participants being disqualified from the Program. If a Participant is found to be ineligible or otherwise not in compliance with these Official Rules, or if the Reward is returned as undeliverable, that Qualified Participant’s Reward will be forfeited.

TIMING

A price match request must be presented in the form of a competitor’s Initial Price Match Documents issued by a HUD-approved lender within seven (7) calendar days of the date LBF receives your application for a reverse mortgage loan. LBF’s Program is subject to change or cancelation at any time and without notice.

Participants requesting a price match must obtain the Initial Price Match Documents from the other lender that is not older than seven (7) days when presented to their LBF Mortgage Loan Originator. The Lender Information section on the Loan Comparison must be fully completed by the competing financial institution in order to have a valid Loan Comparison. Incomplete Loan Comparisons will not be considered for the Program.

To be eligible for the Reward if LBF is unable to match or beat a competitor’s Program Offering, a Participant must first request a Claims Form from LBF on the date LBF elected not to “match or beat” a competing lender’s Program Offering and then submit a completed Claims Form to LBF within seven (7) days of funding a loan with the competing lender in accordance with the Claims Form Process described below.

CLAIMS FORM PROCESS

Please reach out to the LBF Price Match Advantage Program Administrator at pricematch@longbridge-financial.com for a copy of the Claims Form. If you have any questions regarding the Claims Form process, you may contact LBF at the above email address.

  1. If LBF is not able to match or beat a competing lender’s program offer, you can request and then submit a completed Claims Form with supporting documentation, which must be returned to us after funding your loan with a competing lender.
  2. You have to file your claim for the Program Reward within fourteen (14) days of funding your loan with a competing lender. The following documents must be submitted together and included in your claim request:
    • A dated copy of the completed Claims Form requested by you on the date LBF elected not to “match or beat” a competing lender’s Program Offering.
    • A dated copy of the competitor’s Initial Price Match Documents.
    • A dated copy of LBF’s Loan Comparison along with written confirmation from LBF that they were not able to match or beat the Program Offering of a competing HUD approved lender.
    • A fully executed copy of the Final HUD1 Settlement Statement from the competing lender that is signed by the closing agent and all parties to the transaction.
    • A dated copy of the of the competing HUD approved lender’s Final Signed HUD1 Settlement Statement, Final Loan Comparison, Final Amortization Schedule and Final Total Annual Loan Cost (the “Final Price Match Documents”).
  3. You may email submissions of your Claim Form, Initial Price Match Documents, and Final Price Match Documents to pricematch@longbridge-financial.com or you may mail those documents to the following address:

    Longbridge Financial, LLC
    Attn: Price Match Advantage Program Administrator
    945 Bunker Hill Suite 500
    Houston, TX 77024
  4. If the Final Price Match Documents are accurate and prove that the loan funded with the product and terms previously quoted by the competing lender in the Initial Price Match Documents, we will send you a Reward within 6-8 weeks of receiving your complete and verified Claims Form.
  5. All communications relating to the claim must be writing.
  6. LBF will not be responsible for system failures, website downtime, undelivered mail, or any technical malfunctions that prevent your information from reaching LBF.
  7. All documentation submitted by you to LBF will not be returned.
  8. It is the sole responsibility of the Participant to provide a valid mailing address for distribution of Reward.  LBF is not liable for failure of the Participant to provide valid contact information.
  9. No phone calls regarding Reward claims will be accepted. All inquiries regarding Reward claim should be directed to the following email address: pricematch@longbridge-financial.com.
  10. LBF is not responsible for lost, late, or mutilated Rewards.
  11. LBF will make all determinations and decisions as to eligibility and qualification for issuance of the Reward. All LBF decisions are final.

Limit of one (1) claim per person/household for the Program. Any attempt by any Participant to enter more than one (1) Claims Form by using multiple/different addresses, identities, logins and/or any other methods will void all of that Participant’s submissions, and that Participant will be disqualified. Late Claims Forms will not be accepted. LBF is not responsible for lost, late, mutilated or incomplete Claims Forms. All Claims Forms shall become the exclusive property of LBF and will not be returned. LBF and Program Entities have no obligation to acknowledge receipt of or to return any Claims Forms received. Claims Forms that: (a) are determined by LBF in their sole discretion to be indecent, offensive, inappropriate or morally objectionable, (b) illegal or are otherwise unfit for use; (c) incomplete or (d) violate these Official Rules will not be eligible.

By submitting a Claims Form , the Participant: (i) warrants and represents that he/she has read these Official Rules, is eligible to participate in the Program and agrees to be bound thereby; (ii) warrants and represents that all of the information provided in his/her Claims Form is accurate, (iii) warrants and represents that the Claims Form is the original work of the Participant and does not violate any third party’s legal rights (including without limitation rights of copyright, trademark or other intellectual property right, privacy and/or publicity), and/or any applicable law; (iv) agrees that Participant will be solely responsible for any and all resulting tax consequences for participating in the Program; and (v) consents to allow LBF to use any information contained in the Claims Form materials for the purpose of providing Participant with information about available products or services in accordance with applicable law.

REWARD CONDITIONS

The Reward is not transferable and no cash redemption or substitution is allowed. LBF reserves the right to award no Reward, at any time. Qualified Participants are solely responsible for all matters that may become due in respect to the Reward, including, but not limited to, any expenses not stated herein and all applicable federal, state and local taxes.

REWARD

Limit One (1) Reward per Qualified Participant: Qualified Participants will receive a Reward with an approximate retail value of $500 subject to the terms and conditions of the applicable third party. The Reward will be mailed via USPS to Qualified Participants within 6-8 weeks from receipt of a completed and verified Claims Form.

It is the sole responsibility of the Qualified Participant to provide a valid mailing address for distribution of Reward. LBF is not liable for failure of the Qualified Participant to provide valid contact information. LBF is not responsible for lost, late, or mutilated Rewards.

GENERAL RULES OF PARTICIPATION

This Program is subject to all applicable federal, state and local laws. By participating, Participants agree to be bound by these Official Rules and the decisions of LBF and waive any right to claim ambiguity in the Program or these Terms and Conditions. LBF is not responsible for lost, late, misdirected, undeliverable or incomplete Claims Forms, whether due to system errors or failures, faulty transmissions or other telecommunications malfunctions, Claims Forms not received resulting from any hardware or software failures of any kind, lost or unavailable network connections, failed, incomplete or garbled computer or telephone transmissions, typographical or system errors and failures, faulty transmissions, technical malfunctions, or otherwise. LBF may prohibit a Participant from participating in the Program or receiving a Reward if, in its sole discretion, it determines that said Participant is attempting to undermine the legitimate operation of the Program by cheating, hacking, deception, or other unfair playing practices (including the use of automated quick entry programs) or intending to annoy, abuse, threaten or harass any other Participants, LBF, or Program Entities. If for any reason this Program is not able to be conducted as planned, including, but not limited to, by reason of infection by computer virus, bugs, tampering, unauthorized intervention, fraud or any other causes beyond the reasonable control of LBF and Program Entities which corrupt or affect the administration, security, fairness, integrity or proper conduct of the Program, then LBF reserves the right at their sole discretion to cancel, terminate, modify or suspend the Program and choose from those Claims Form received up to the cancellation/suspension date. CAUTION: ANY ATTEMPT BY A PARTICIPANT OR ANY OTHER INDIVIDUAL TO DELIBERATELY DAMAGE OR UNDERMINE THE LEGITIMATE OPERATION OF THE PROGRAM MAY BE IN VIOLATION OF CRIMINAL AND CIVIL LAWS AND SHOULD SUCH AN ATTEMPT BE MADE, LBF AND PROGRAM ENTITIES RESERVES THE RIGHT TO SEEK REMEDIES AND DAMAGES (INCLUDING ATTORNEY’S FEES) FROM ANY SUCH PARTICIPANT TO THE FULLEST EXTENT OF THE LAW, INCLUDING CRIMINAL PROSECUTION.

NO LIABILITY

By participating, Participants agree to release, discharge, indemnify and hold harmless LBF, Program Entities and each of their respective officers, managers, directors, employees, representatives and agents (“Releasees”) from and against any claims made by Reward recipients, Participants, or any other third parties, related in any way to the operation of this Program as well as any other claims, damages or liability due to any injuries, damages or losses to any person (including death) or property of any kind resulting in whole or in part, directly or indirectly, from acceptance, possession, misuse or use of any Reward or participation in any Program related activity or participation in this Program. In all events, the sole maximum liability of the Releasees shall be limited to the cash value of the Reward or Five Hundred Dollars ($500.00), whichever is less.

PRIVACY

By participating in the Program, LBF will collect your name, address, phone number, age, e-mail address and any additional information provided by you (if any). LBF will use this information to administer your participation in the Program and in accordance with LBF’s Privacy Policy. Information that Participants provide to LBF will be used to evaluate the price match request and the Program and to communicate with Participants regarding the LBF Program and otherwise as set forth in these Official Rules. By submitting either a Claims Form or the Initial Price Match Documents and or Final Price Match Documents issued by a HUD approved competitor lender to LBF, all Participants acknowledge and agree that the personal information that they have provided will be maintained as confidential information in accordance with LBF’s Privacy Policy and all applicable Federal and State laws, regulations and requirements. At the time you are participating in the Program, you are providing your signature and express “written” consent to be contacted by or on behalf of LBF, its affiliates and/or its agents at the telephone, email or mailing address that you have provided for purposes of participating in the Program, to send you future information about reverse mortgages and/or LBF’s products or services, even if you have previously registered on a “do not call” government registry or requested LBF to not send marketing information to you by email and/or direct mail. You agree that LBF may use automatic telephone dialing systems and prerecorded voice messaging in connection with calls or texts made to the telephone number you provide even if the telephone number is assigned to a cellular or mobile telephone service or other service for which the called party is charged. You understand that you are not required to consent to receiving autodialed calls or texts as a condition of any reverse mortgage and/or purchasing any LBF products or services. If you do not wish to authorize LBF to contact you in this manner, you can call 855-523-4326 to complete your request. You understand that you can revoke this consent at any time. LBF is dedicated to protecting your privacy. Participants may view LBF’s Privacy Policy located at https://longbridge-financial.com/privacy-policy/.

Participants may contact LBF regarding privacy issues by contacting LBF at:

Longbridge Financial, LLC
61 South Paramus Road, Suite 500,
Paramus, NJ 07652
Attn: Compliance Department
1-855-523-4326

CONDITIONS AND CONFIDENTIALITY

By submitting either the Claims Form or the Initial Price Match Documents and or the Final Price Match Documents issued by a HUD approved competitor lender to LBF, you understand and agree that the information contained therein will be treated as confidential information, will be used for purposes related to the Program, to send you future information about reverse mortgages and or LBF’s products or services, and will not be distributed, sold or otherwise transmitted outside of LBF. 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 Claims Form, Initial Price Match Documents and or the Final Price Match Documents submitted by you will not be returned. The Participant further agrees to release LBF, from any and all claims related to such use by LBF, including any commercial advertising presentation, web content or any other material subsequently produced, presented and/or prepared by or on behalf of LBF.

CHOICE OF LAW

Except where prohibited, participants agree that: (1) any and all disputes, claims, and causes of action arising out of or connected with this Program, or any Reward, or the determination of a Qualified Participant, shall be resolved individually, without resort to any form of class action, and exclusively in federal or state courts located in Kent County, Delaware, USA, and (2) any and all claims, judgments and awards shall be limited to actual out-of-pocket costs incurred, including costs directly associated with entering this Program but in no event attorneys’ fees; and (3) under no circumstances will Participant be permitted to obtain awards for, and Participant hereby waives all rights to claim, punitive, incidental and consequential damages and any other damages, other than for actual out-of-pocket expenses, and any and all rights to have damages multiplied or otherwise increased. All issues and questions concerning the construction, validity, interpretation and enforceability of these Official Rules, or the rights and obligations of Participants and/or Releases or to in connection with the Program, shall be governed by, and construed in accordance with the laws of the State of Delaware, without regard for the conflicts of law doctrine of that State or any other jurisdiction. Should any term of this paragraph be determined by a court of competent jurisdiction to be void, unenforceable or contrary to law, such term or provision shall, but only to the extent necessary to bring this paragraph within the requirements of law, be deemed to be severed from the other terms and provisions hereof, and the remainder of these Official Rules shall be given effect as if it had not included the severed term herein.

NO REIMBURSEMENT OF FEES OR REFERRALS

LBF receives no compensation, reimbursements or referrals of mortgage loan business from any third party in connection with the Program.

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