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Freedom Mortgage Structured Settlements Review


ConsumersAdvocate.org Rating: 4.6 / 5 (Excellent)
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Freedom Mortgage is a leading diversified consumer financial services company with over twenty five years of experience. They focus on mortgage lending, personal and business lending, and purchasing structured settlements. Freedom Mortgage is a BBB-accredited business with an A- score. The company was founded in 1990 and is based in New Jersey.
 
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How is Freedom Mortgage rated?

Breakdown

4.8/5
Company Reputation
0.0/5
Customer Support
0.0/5
Educational Resources

Overall Rating: 4.6 / 5 (Excellent)

Freedom Mortgage has recently acquired J.G. Wentworth's structured settlement purchasing programs. As far as options, few companies provide more in terms of payout choices and types of settlements purchased. Concomitant with their market position comes conflict as well. And several employees representing the company have been the subject of lawsuits over the years for questionable business practices and aggressive sales techniques. However, customer sentiment remains largely positive and the majority of those annuitants selling their settlements through Freedom Mortgage continue to represent the company favorably online.

Freedom Mortgage Financial Stability

Financial Stability - 4.5 / 5

Before J.G. Wentworth was bought by Freedom Mortgage, the company had purchased over $4 billion of future payments from over 50,000 customers. It was one of the largest and most recognizable names in structured settlement purchasing in the US. In November 2017 J.G. Wentworth filed a Joint Prepackaged Chapter 11 Plan of Reorganization as basically a maneuver to restructure the company's debt. The process was completed in January 2018 and business operations were not interrupted.
Year Founded
1990
Company Type
Direct Funded
Place of Registration
USA

Freedom Mortgage Services

Services - 5 / 5

J.G. Wentworth has some of the most flexible buyout options and choices for additional services in the structured settlement marketplace. Annuitants can sell their payments in a variety of fashions, choosing all, some, or a portion of each. Other services are just as flexible as the company can offer pre settlement payouts, and also buy other types of structured payments like lottery winnings, pensions, and in some cases workers comp income.
Structured Settlement Buyouts
Some Payments
Portion of Scheduled Payment
Entire Settlement
Other Services
Pre Settlement Payments
Buy Workers Comp Settlements
Buy Lottery Winnings
Pensions
Annuities not the Result of Structured Settlement
Inheritance
Disbursement Method
Prepaid Debit Card
Direct Deposit
Estimated Processing Time
60-90 days
Customer Service Hours
8:30 AM to 8:00pm (EST) Monday through Friday
Modes of Communication
Phone
Email
Chat

Freedom Mortgage Reputation

Company Reputation - 4.8 / 5

Freedom Mortgage maintains its membership as a licensed lender with the Nationwide Mortgage Licensing System, (ID number 2767). The company has 13 regulatory actions with the NMLS and 2,309 registered complaints with the Consumer Financial Protection Board for all mortgage classifications in total. The organization also has an A- grade with the BBB.
BBB Rating
A-
Date Collected
2019-10-16

Litigation and Regulatory Actions

Before being purchased by Freedom Mortgage, J.G. Wentworth's structured settlements division has been the subject of several lawsuits over the years. Most recently in September 2017 it was alleged a lawyer representing the company was involved in "annuity fraud enterprises," getting rubber stamp approval on unfavorable structured settlement sales with the help of a judge in Virginia.

Company Profile

Full Name
Freedom Mortgage Structured Settlements
Company Website
https://www.freedommortgage.com/
Headquarters
907 Pleasant Valley Avenue, Mt. Laurel, NJ, 08054

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Customer Comments & Reviews

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K
Kody A
6/12/2018
Having a great experience with JG through this whole process. I'm not paid to write this review and I get nothing from it. Just wanted to say John Agovino has been awesome and i recommend him. Always encouraging me to get other options then coming back and beating them. No pressure. I was having bad experience with veronica avella at peachtree and I'm going with jg. Hope this helps! Always get multiple offerings!

Top Rated
  • Provides numerous examples of structured settlement valuations
  • Website includes text of structured settlement sales laws from all 50 states
  • Free quotes
  • "No spam" pledge to those seeking quotes
  • Calls encouraged from people with quotes from other companies
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