| 01/26/2018 |
Yes |
- Mortgage
- Other type of mortgage
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Web |
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This response should be sent to XXXX XXXX, Vice President, XXXX.
My name is XXXX XXXX, age XXXX, senior citizen, XXXX XXXX. On XX/XX/XXXX, I signed a Virginia Purchase Agreement for property located on Lot # XXXX, at XXXX 's XXXX XXXX ( XXXX XXXX XXXX XXXX, XXXX, VA XXXX. I love and want my house, but I have been juggled, confused, and misguided, manipulated throughout this venture with XXXX XXXX. I did not have a realtor to assist me because my realtor was no longer a realtor agent, even though she was my realtor on record from XX/XX/XXXX-XX/XX/XXXX. However, I had no one to guide me through this process and XXXX XXXX and the XXXX XXXX XXXX Lender, XXXX XXXX, do I did not know anything about mortgage procedures.
My complaint is with XXXX XXXX/NVR Inc. and XXXX XXXX, XXXX XXXX XXXX, who will not return my closing cost money of {$4400.00} that I worked hard to get and it was not easy. XXXX XXXX/NVR Inc refuses to return my money, even though XXXX, has the money. On XX/XX/XXXX, XXXX XXXX, Vice President of XXXX XXXX, sent me a default letter. The letter states that I have failed to complete my obligations based on Paragraph 13 of the Purchase Agreement. I feel that XXXX XXXX should return my money because they made an erroneous error. I did everything XXXX XXXX, XXXX XXXX XXXX lender asked me to do. It should have been contingent on financing and not that I failed to complete my obligations. I did everything my lender asked me to do, but it was unsuccessful. Through this mortgage process, I dealth with the following persons : XXXX XXXX, XXXX XXXX, XXXX XXXX, and XXXX XXXX, XXXX XXXX/NVR Inc., and XXXX XXXX, XXXX XXXX XXXX.
I believe I was not qualified in XX/XX/XXXX for an XXXX loan through the XXXX XXXX XXXX at the very beginning of the loan process. I did not receive a pre-qualification letter, spreadsheet, or XXXX findings that showed my original application received XXXX XXXX approval. I started asking XXXX in XX/XX/XXXX at the time of my application to provide me with figures dealing with housing to debt ratio, closing costs, etc ( like XXXX XXXX, NVR Mortgage Lender gave me ( see history below ). Based on lenders from XXXX XXXX, XXXX XXXX, and NVR Mortgage Lenders, who were unable to qualify me for a XXXX loan told me that my ratios were too high to qualify. What did XXXX from XXXX, see that the previous lenders did not? I understand that when you apply for a XXXX loan, they are very tight on their ratios. I believe that I did not qualify and XXXX XXXX Lender XXXX simply missed this.
This has been very stressful and a financial hardship for me. My hair is falling out. I am very XXXX, and can not sleep at night because of all the threats from XXXX and XXXX during this endeavor. I have been waiting to get the house built from XX/XX/XXXX to XX/XX/XXXX. I have moved four times since starting this home process. There is no assistance for the consumer. XXXX and XXXX continuously said that they were trying to help me, but XXXX could not get me a decrease in the purchase price or a lower rate, so how could they possibly help me or than threatening me. I got to the point that I did not want to speak to either of them again, so I started communicating with XXXX and his supervisor from XXXX XXXX. XXXX tried to get a friend from XXXX to get my name removed from the car, but, at that point, my son was tired of contacting dealerships and his credit getting constantly hit. In XX/XX/XXXX, XXXX started threatening me.
XXXX said that I am at default because I added {$6000.00} ( $ XXXX/month ) to my debts ; however, he continued to ask me to get rid of my sons car where I am the co-signer. The XXXX car balance is {$13000.00}. He also said that I needed to come up with {$12000.00} which is the balance for XXXX XXXX XXXX, which is a bill I had prior to completing the application and I was paying $ XXXX/month ( balance {$6000.00} ). I kept asking XXXX why was he asking me to get rid of a {$13000.00} or a {$12000.00} loans when I only added {$6000.00} to my debts.
XXXX and XXXX insisted that I pay appraisal and home inspection fees before I was approved for financing. I asked them should I wait, but they said No!
XXXX scheduled closings on XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX, but he was still asking me to get my name removed from the XXXX and placed in my son 's name. He was also asking me to get {$12000.00} from my family or have my family borrow {$12000.00} from XXXX XXXX XXXX to pay off my debt, but when they get the payment plan, then I would make the payments to XXXX XXXX XXXX.
I had not been approved for financing, yet XXXX kept scheduling closing dates on the house and threaten me with having to pay penalty costs from the closing dates and not getting my deposit reimbursement. The representatives from XXXX and XXXX XXXX put me through a lot of stress, and now they want to keep my hard-earned money that it took me a long time to get ( see payment plan ). XXXX XXXX makes have $ 100s and $ 100s of dollars, but they want to keep this XXXX year old senior citizen, deposit of {$4400.00} after all they put me through since XX/XX/XXXX.
Background History I first visited XXXX XXXX in XX/XX/XXXX to discuss the procedures to purchase a new construction. My house was scheduled to be built in XX/XX/XXXX, and later changed to XX/XX/XXXX and later to XX/XX/XXXX. The house was completed on XX/XX/XXXX. On XX/XX/XXXX, I gave XXXX XXXX my Earnest Money Deposit ( EMD ) in the amount of {$1000.00}.
On XX/XX/XXXX and XX/XX/XXXX, I asked XXXX to send me the name of her lender. On XX/XX/XXXX, XXXX sent me XXXX XXXX, NVR Mortgage, XXXX who is XXXX XXXX Lender. XXXX prepared a spreadsheet which showed a breakdown of cash I would need at closing and calculations from three grant programs that I could apply for with different low down payment options. He also stated that the spreadsheet was based on my income of {$78000.00} per year or XXXX monthly and {$1800.00} for social security. However, my XXXX is now XXXX/month. XXXX said that my credit score would allow me to apply for each program, but he was concerned about my debt-to-income ratio. He explained that my debt to income ratio is a calculation of my monthly debt divided by my total monthly income. He also said that XXXX will allow for a grant but the income limit is {$97000.00} per year. He stated that based on the calculations on the spreadsheet, my income is too high for several grants. He even removed my son 's car payment of $ XXXX/month from the ratios, but he at the first beginning of the loan process said that I needed to pay off some debts to get in other loan programs. His final remarks to me were that I needed to pay {$11000.00} or {$16000.00} for closing cost to purchase a house. On his spreadsheet, he lists the same debts that I had when XXXX XXXX transferred my closing cost of {$5000.00} to XXXX XXXX, XXXX XXXX XXXX. I told XXXX that if I had to pay {$11000.00} or {$16000.00} closing costs, then I would wait to next year to purchase a house. I also asked him to send me my denial letter so I could get my EMD reimbursement. XXXX could not get me qualified so I wanted my EMD returned to me. XXXX said that purchasing a house through XXXX XXXX was contingent on my paying off two to three bills and/or paying down an extremely large down payment, instead of the {$5000.00} on the worksheet, which is the same thing XXXX said to me in XX/XX/XXXX, instead of mentioning this to me in XX/XX/XXXX.
On XX/XX/XXXX, XXXX said that the original calculations that XXXX prepared for the XXXX grant on the worksheet were incorrect. XXXX said the calculations were correct. She said that even though it did not reflect the other debts that was okay because most people can not remember everything that they owe. She told me not to worry because there are multiple other lenders and she wanted me to explore other options before I cancel that there are plenty things that XXXX XXXX could do.
XX/XX/XXXX - Sent email to XXXX because I had been trying to reach XXXX all week and did not receive response.
I wanted him to send me a pre-qualification letter, figures, closing costs, before I moved from XXXX to XXXX.
XX/XX/XXXX - XXXX looking for XXXX to get closing cost transferred to his bank. NVR, her lender, needed a full application from me to issue a denial letter that's how she moved the closing cost over to XXXX.
On XX/XX/XXXX XXXX XXXX, XXXX, XXXX wrote : Yes I did speak to him don't worry everything 's okay. I am trying to get my closing cost assistance transferred over to his bank. My lender needs a full application from you in order to issue a denial letter that's how I move the closing costs over. If you do not want to do the full application to get your denial I understand ... I will work with XXXX to figure out closing costs if you decide not to complete the full application with my bank. It will not mess up your credit to apply through both creditors, they know that you were shopping for a mortgage so it will only count as one hard credit pull. What do you want to do? XXXX can get you financed that's no problem so I don't want you to worry about that. I just want to make sure I get you the most money possible are you willing to finish the app at my bank I believe you can do most of it online. and don't worry they know that you are just completing the app so that I can transfer over closing costs.
XX/XX/XXXX @ XXXX XXXX : Email from XXXX : I just wanted to follow up with you about the loan app so I can get you your closing costs moneyI need you to complete the app with XXXX, I know thats no fun but this way I can get you the closing costs money. Also, XXXX has been trying to reach out to you, can you please give him a call. Let me know what your schedule looks like so we can get this thing wrapped up with XXXX, sorry for all of the back and forth, well get all taken care of.
I do not understand her message above or what she was referring to. I asked for a denial letter and the return of my EMD earlier.
XX/XX/XXXX - Sent my documents for processing to XXXX, XXXX XXXX XXXX.
I sent an email to XXXX on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, I sent an email asking for a denial letter and EMD reimbursement long before XXXX 's Vice President signed the purchase contract and all the other XXXX documents that were sent to me on XX/XX/XXXX.
On XX/XX/XXXX, I received the following message from XXXX XXXX : On XX/XX/XXXX you were outside of your 3 day right of rescission, you signed the contract on XX/XX/XXXX. You were not denied for a loan, you can not request a denial, you must actually be denied for a loan. You can withdraw your application but you can not request to be denied. You never completed a full application either to receive a denial. You must complete an application to be denied. My manager had reached out to you to explain all of this as well but she was unable to reach you. Unfortunately, the earnest money deposit is nonrefundable at this point. Best of luck in your home search.
On XX/XX/XXXX-XX/XX/XXXX, XXXX transferred my closing cost to XXXX and said that I no longer had to deal with XXXX and I was switched over to XXXX XXXX, XXXX XXXX XXXX Bank. XXXX is a close friend of XXXX, so XXXX XXXX gave XXXX authorization to transfer the incentive of {$5000.00} closing cost over to XXXX 's bank.
XXXX, XXXX XXXX Conversation with me In XXXX when I first started working with XXXX XXXX, XXXX told me that there are thousands of banks out there and not all of them have the same rules and it is completely normal I have had people go through three and four different lenders before we got to the best one.
I found another lender in XXXX, but in XX/XX/XXXX, XXXX would not allow me time to complete my paperwork with XXXX to get approved for the house at XXXX XXXX XXXX XXXX. He said that if I did not go with XXXX then they will cancel my contract and send me a default letter and would not return my money. Since XXXX could not get me approved for XXXX with payments being {$2300.00}, XXXX then tried FHA plus loan and my payments would be $ XXXX/month. I did not want to pay the $ XXXX/mo, so I certainly did not want a higher monthly payment, so I told XXXX that I do not want those high monthly payments. XXXX also said that it would take XXXX another 45 days to get me approved and they can not wait that long. They have waited long enough. I have waited for XXXX XXXX since XX/XX/XXXX, almost a year ago, but they could not wait for me to seek another lender 's figures.
XXXX XXXX, XXXX XXXX XXXX As mentioned earlier, I did not hear from XXXX until XX/XX/XXXX. At that time, XXXX should have reviewed my credit report and noticed that I had incurred an additional debt of {$6000.00} ( $ XXXX/mo ) with XXXX XXXX XXXX before he set up a closing date. In XX/XX/XXXX, XXXX asked me to get the XXXX XXXX car that is in my name and transfer it to my son 's name since I had accrued a {$12000.00}. XXXX did not send me a video on house purchasing until mid-XX/XX/XXXX which stated that I should not have accrued any other debts. I should have been given the information in XX/XX/XXXX by XXXX XXXX XXXX. Starting in XXXX, XXXX would call me after his working hours from XXXX XXXX to XXXX XXXX and say to me that I needed to get the above-named car out of my name by going to dealerships or to my son 's bank. Well, my son and I did all that. We spent almost every weekend in XXXX and XXXX trying to get the name removed from the car, but was unsuccessful. We have about 6 letters from car dealerships banks and XXXX XXXX XXXX XXXX denying my son approval to place the car in his name. I even tried to get my XXXX XXXX car payment lowered by training it in. Both cars have upside down payments, which makes it hard to get rid of the cost.
I had access to the XXXX XXXX from XXXX to XX/XX/XXXX and I could have gotten my name off the car by having my father use the XXXX as a trade in, but XXXX did not contact me until XX/XX/XXXX.
In XXXX and XXXX, XXXX and XXXX would call me after XXXX XXXX at night and threatened me with a default letter if I did not make my son get rid of the car. They said that my family should stick with me and help me get a house. My son is XXXX years old, the car payments were not delinquent, the car was not in my possession, I did not have any control over the car and I kept informing XXXX and XXXX, but they did not listen. They had me crying on the telephone.
I did not know that I was not to add additional amounts to my monthly bills because no one told me. XXXX sent me a video in XXXX which told me not to add additional pills. As I mentioned before, XXXX kept changing the date my house would be built, and by XXXX, I had to move, needed to pay off my income tax, etc. which I will explain later in the history on the additional expense I incurred while waiting for my house to be built.
Supervisor to lower the cost of the house or lower my interest rate so I could close on the house, but she would not hear of that. I ask XXXX the same information since everyone kept saying that we are trying to help you. Often during the evening time, XXXX would call me and merge XXXX in to the call, and they both would threaten me that I was in default because I added an additional {$12000.00} to my debts.I kept telling him that I incurred {$6000.00} w/additional $ XXXX/month, but why was he asking me to get rid of the XXXX car that was {$13000.00} and/or the XXXX XXXX XXXX Debt for $ XXXX/a month.
I need to send my attachments under separate cover because I can not save them. Please send me an email where to send all my attachments.
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| 08/26/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Closing on a mortgage
- Changes in loan terms during or after closing
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Web |
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WHO : XXXX XXXX and NVR Mortgage WHAT HAPPENED : I have been priced out of a new construction loan I signed in XX/XX/XXXX With XXXX XXXX, using their lender NVR.
They are refusing to acknowledge this and trying to strong arm me into a home I can not afford and threatening to make me use my Retirement fund to fundthe loan when I made it clear to them at the beginning that my retirement was OFF the table and not an option.
I told them from the start I wanted to use XXXX XXXX XXXX, a down payment assistance program that would give XXXX XXXX of loan amount towards the down payment. A down payment assistance program was what was making it affordable.
Later I learned about XXXX advantage and preferred programs that also gave up to XXXX XXXX XXXX, but was forgivable. I relayed this information to XXXX and XXXX to see if I would qualify for a XXXX XXXX XXXX w/them, Them being the professionals, I wanted them to look into it see if I qualify. So it was XXXX or XXXX ( Not to be confused XXXX ) XXXX that I would be using.
At the start I was told that there was no locking in the rate w/XXXX b/c I was subject to their rate.
I was told their lender, NVR wouldnt charge me Points ( % ) b/c again, I am subject to whatever rate is set at that time for the HTH program. There was no buying down the rate.
They said they did not put XXXX XXXX XXXX XXXX on the loan estimate b/c they could not request the funds until 60 days before closing.
I told them from the beginning that my retirement was not an option. When I originally spoke to XXXX Marin Loan Originator NMLSR ID # XXXXState License ID # XXXX, I emphasized that NO I was NOT touching my retirement.
In XXXX when the Loan Approval conditions came out and saw they were requesting the Terms and Conditions for liquidating my retirement, I called XXXX XXXX the processor right away and questioned it.
I emphases again that I was NOT comfortable with touching my retirement and that it was off the table from the start, that I already told XXXX this and I was concerned as to why they needed the liquidation terms.
I wanted to know why they were requesting this. XXXX told me she would make a note of it again ( My retirement being NOT an option to get me into the home ) and that she was reaching out to XXXX as we spoke and that she would speak to her to remind her.
I was told by XXXX XXXX the processor, that providing the terms and conditions of liquidating retirement was so in the event I lost my job I still had a way to pay the mortgage each month, implying that this was for an emergency, in the future, when Im already occupying the home and paying the mortgage, NOT as a way to qualify me, pay closing costs and give me the ability to pay the mortgage for a few months b/f the money runs out and I am still in a home that is not affordable which ends up defaulting.
They deceived me into the purpose of having to provide to them the terms of my retirement.
It was their job to responsibly qualify me or disqualify me based off of the documents I provided to them- My pay stubs and my Car loan.
I believe I never actually qualified, they never wanted me to use HTH. It appears that they were going to play with the numbers for their benefit and my detriment to strong arm me into a straight conventional.
With the rates going as high as they have, increasing the monthly mortgage, I dont even qualify for the XXXX program.
It seems that from the start they thought they could set it up where I was faced w/having to use my retirement or loose my XXXX deposit. This is unethical.
My Realtor and myself have reached out to them to resolve this and were only met w/resistance. They Manager, XXXX XXXX XXXX XXXX emailed her, speaking of things she knows nothing about and draws assumptions as to what I was told and conversations that took place with anyone involved in this transaction. She presents them as fact, when they are not fact. It's manipulative and bullish. They never encourage me or even mentioned locking in the rate back in XX/XX/XXXX when the interest rate was XXXX XXXX It wasn't an option w/HTH, again b/c I was told there was no locking in the rate. She also says in the same email that w/the HTH program I could only lock in my rate 45 days b/f closing which is XX/XX/XXXX. It is a flat out lie and it wasn't even spoken about or brought up as an option. She then offers me another home/lot so that my " deposit is not lost ''. How can they get away with this?
I said NO. I dont want to live in another town/community. It seems that they offered this, hoping I would agree so that for sure they would be able to get the numbers to work for them, on a lower purchase price house to approve the loan.
I sent the numbers to XXXX the loan officer showing here my DTI, based off of her own numbers she gave me ( Which is provided in the screen shots uploaded ) when she was running scenarios.
I make around $ XXXX. I work my obligated hours of XXXX, unless they send me home early.
I have an additional $ XXXX clinical ladder that gets applied to hours I work.
It does not get applied to hours of XXXX used to bring my hours to XXXX.
If I worked XXXX hours that week, I get the clinical ladder applied to the hours I worked The XXXX hours taken from my PDXXXX gets paid out at my regular rate of $ XXXX I am on call for XXXX hours once every XXXX weeks. If I get called in then I will get my time and a half for those XXXX hours.
I have car payment that I pay about $ XXXX on. I have included a PDF of my payment history.
I have uploaded my recent paystubs to support this These are the numbers the loan officer gave me herself.
MI XXXX XXXX XXXX +Mortgage XXXX {$3700.00} DTI= XXXX XXXX All of this has made me distrust them and their ability to do honest ethical business. I feel like they will manipulate the data/number whichever way they want, to suit them. They want to intimidate people who are not skilled/educated/trained in how this process works and all the ins and outs. I by no means are an expert but I know that {$430.00}, after taxes, a month to pay livings expenses, utilities ect is NOT affordable and should not be approved.
DETAILS : XX/XX/XXXX I put an EMD of XXXX Days later they called and said that since I was using a government program ( Home Town Heros ) and had the funds, they wanted a full XXXX XXXX down payment. So I paid the difference right away.
Total EMD paid in XXXX : {$21000.00}.
I have never gone through this process b/f so I didnt know any better but my Realtor was alarmed.
I told XXXX XXXX at the beginning that I only had XXXX to put towards this whole transaction. Whether it was now or later I thought, made no difference. So I paid. Which they knew, b/c they saw my bank statements, left me w/bare bones emergency money. They did not care.
The rate on the loan estimate from XX/XX/XXXX was XXXX XXXX the projected mortgage was {$2900.00} ( included P/I ) The rate as of XX/XX/XXXX is now XXXX XXXX, the projected mortgage now {$3300.00} This is a $ XXXX difference!
The closing costs also went up from {$17000.00} to {$21000.00} The {$4400.00} Credit that was to go towards the loan from the builder is now nearly obsolete.
No XXXX amount points were on the XXXX estimate and now they appear on the XXXX estimateXXXX XXXX XXXX = {$3400.00} additional fees The rates have made the mortgage unaffordable. Myself and my realtor sent requests for the loan to be decline since I have been priced out and for my EMD of {$21000.00} be returned to me along with the XXXX fee paid XXXX XXXX and and lender have refused. They are saying that I have my retirement that I can liquidate to make the loan work.
I agreed to use their lender, NVR d/t to the incentive of XXXX toward closing costs.
I told them that I was eligible, since I was a Nurse, to use the XXXX XXXX XXXX XXXX XXXX, who would give an additional XXXX XXXX XXXXf the loan amount toward the 10 % down payment that was required to make the loan work.
Loan amount : {$390000.00} 5 % from XXXX : {$19000.00} The rate at the time XX/XX/XXXX waXXXX XXXX XXXX with a projected mortgage of {$2900.00} My only debt was a $ XXXX {$420.00} car payment a month.
Mortgage : {$2900.00} + Car payment $ XXXX {$3400.00} Total Debt My MI was around $ XXXX {$7000.00} ( I am a nurse so the income varies ) Making DTI XXXX %.
My EMD was {$21000.00} ( XXXX XXXX of the purchase price of {$430000.00} ) + HTH XXXX XXXX of the loan amount $ XXXX Total Down payment of {$41000.00} 10 % down payment on purchase price would be {$43000.00} - My EMD and XXXX The amount I was responsible for to make up the difference at closing was {$2100.00} 10 % down payment {$43000.00} + Closing costs $ XXXX {$60000.00} Subtract the XXXX the builder gives towards closing, minus the {$21000.00}, EMD, minus the funds from HTH {$19000.00}.
They did not name/reflect HTH in the estimates, I was told it was b/c they werent able to request those funds until 60 days b/f closing.
The first loan estimate the Closing Costs were estimated at {$17000.00} XXXX homes applying their XXXX incentive I was told they would give me the difference and credit me {$4400.00}.
This has been the most stressful season of my life. Risking loosing my savings of XXXX by being bullied and intimidated into taking a loan that is going to fail b/c I can not afford it. Having to pay legal fees to get this resolved.
Just having to put together this Narrative of what happened has taken days to prepare.
This is not Ethical.
Myself and my Realtor have reached out to try to resolve this w/o any luck.
I have had to get legal counsel.
Because of this I am jammed up on all sides.
I dont even know where I am going to be living next month.
To Sum it up once again.
My Complaint is with both NVR and XXXX XXXX.
I have been price out of this loan b/c of the Market rates, no fault of my own. My retirement was NEVER to be used to make a house temporarily affordable and get me into the home. I trusted them to be fair and honest with their business practices. My request is for them to rightfully disqualify me for this loan and return to me the EMD of XXXX, the appraisal fee of {$550.00} and the legal fees it is costing to resolve this.
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| 03/08/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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NVR Mortgage XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, OH XXXX | XXXX XXXX XXXX XXXX XXXX XXXXXXXX ) XXXX Fax XXXX XXXX XXXX XXXX XXXX XXXX # XXXX Our loan paperwork originated on XXXX. Our house sale price was listed at {$370000.00}. We were told that NVR would cover $ XXXX of closing costs. We were listed at 2.5 % loan/points.
We locked our rate in at XXXX on XX/XX/XXXX and our documents state they would still over $ XXXX in closing costs. We were then listed at 2.875 % loan points. Sale price is now {$370000.00} On XX/XX/XXXX we met with the project manager and the realtor. She mentioned the $ XXXX we had put down and another {$5600.00}. I told her we could pay that the next month and was told " not a worry at all. We'll just do an addendum that you're putting down $ XXXX '' at no point were we told we would be penalized if we did not put down {$5600.00} more on the loan. Bringing the total down payment to {$22000.00}. I offered to pay that additional {$5600.00} twice and was told not to worry about it.
XX/XX/XXXX rate is locked at XXXX. Our sale price went to $ XXXX. Loan officer said she needed to roll $ XXXX in closing to the loan- explanation as " the feds require ... '' and some information that made no sense, but we didn't want higher closing costs so I agreed. We are still at 2.5 % loan/points. XXXX XXXX is now buying down our interest for the first year at {$8500.00}. We are no longer getting the $ XXXX in closing costs they promised. It's reduced to {$1900.00} when questioned I was told they could not do both- however ; no one told us that. I had to ask and inquire. At this point I questioned why are closing costs were {$19000.00}. I was told it was because we did not put down the full {$22000.00}.
I mentioned I had offered to pay the additional XXXX many times and was told I did not need to. I asked if we paid that amount if our closing costs would decrease- the loan officer said yes. I sent an email to the realtor on XX/XX/XXXX stating that we wanted to put down another {$5600.00}. She told me that they were under construction and could not take funds. I could bring them to closing. I forwarded that email on XX/XX/XXXX to our loan officer. She replied with " Ok, no worries. '' On XX/XX/XXXX I received closing disclosures. Our cash to close was listed at {$17000.00}. 2.5 % loan/points. Our deposit was listed at $ XXXX. Our loan officer called me on Saturday XX/XX/XXXX at XXXX. and we went over the closing costs again. I asked why it was listed at {$17000.00}. Shouldn't it be XXXX transactions? One for the {$5600.00} towards and one for the closing costs. She indicated it was all together. But that the closing costs were near $ XXXX and the rest would be the {$5600.00} towards our deposit/loan. I sent an email to our loan officer on XX/XX/XXXX at XXXX XXXX " Just to confirm the other {$5600.00} is going to the loan and the remaining amount is our closing fees. Which brings our down payment to {$22000.00}. correct? She replied on XX/XX/XXXX at XXXX XXXX " Yes that's correct ''.
On XX/XX/XXXX at XXXX XXXX I emailed the loan officer again- asking if the cash to close was still {$17000.00} and if that included the {$5600.00} we wants to bring to closing. '' she responded on XX/XX/XXXX at XXXX that our cash to close was still that amount and when to wire transfer, because we were closing on a Monday.
On Friday, XX/XX/XXXX at XXXX XXXX our loan officer called to let me know my husband needed to login to NVR 's portal and sign a document. I again then asked her about the closing costs. She indicated she just walked in the door and needed to restart her computer. She called me back and we discussed the closing costs and she brough up " you guys didn't do the full {$22000.00} in the beginning. '' I reminded her of the emails and the confirmation that we could pay the extra {$5600.00} and wanted to pay that in XXXX and were told to bring it to closing. '' she was very short with me and had no real answers. She said she could call underwriting and see if we could bring another {$5600.00} on Monday- which I told her was not happening. I had already indicated we wanted to do the extra {$5600.00} multiple times and I had her emails saying we could and that they would be applied. There was no resolution. She basically had no real answer and was very annoyed that I was questioning her. She also indicated- per the documents we received in our closing paperwork. Our payment would be XXXX We closed on XX/XX/XXXX at XXXXXXXX XXXX XXXX. During the closing our documents only noted a $ XXXX deposit. When I told the notary that it was incorrect she told me to call the loan officer. We also were told our house payment would be {$2700.00}.
We signed the documents. Quite frankly we had movers coming in less than 24 hours and our home was sold. I felt like we had no choice at that point. I left very upset and confused, but we received the keys to our new home. As I've had time to process and look back through emails and documentation I feel like NVR was completely misleading. They did not cover the closing costs they initially said they would cover- and never indicated when that changed. When asked it was simply " we can't do that anymore. '' They added $ XXXX to our home loan for reasons I never understood and they did not appropriately allocate funds the way I asked to be over and over again and had confirmation of. I feel like we were mislead and overcharged. We also locked in the rate at XXXX on XX/XX/XXXX and then in the next document it was changed to 7.35 %.
There are a few documents in the NVR portal that say " error won't load '' that I can not even retrieve at this point.
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| 12/20/2016 |
Yes |
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- Credit decision / Underwriting
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Web |
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On XXXX 2016, I applied for a mortgage loan. I did not have the funds required to close, so the salesperson suggested I set up a payment schedule assuring that the funds would be available at the time of closing. During this period, I submitted deposits of {$4000.00} towards the closing costs and {$420.00} for the appraisal. I complied with everything the loan officer requested, submitting the final documents needed by XX/XX/XXXX,2016.
On XX/XX/XXXX2016, I received a call from the loan officer advising me that " we needed to lock in a rate '' On XXXX XXXX, 2016 ( the next morning ) I received a call from the loan officer requesting another credit authorization.
I complied and submitted the authorization the same day.
On XXXX XXXX, I also received a letter of Declination stating my loan was " declined due to excessive credit obligations '' I was disappointed and surprised due to the fact the loan officer gave me the impression the loan was in process. After I received the declination letter, I decided to revisit purchasing a home after resolving " credit issues '' at a later date. When I contacted NV Mortgage regarding my refund, the lender and builder said my loan was NOT declined due to the reason stated on the declination letter but because I failed to maintain the payment schedule.
I stated that the declination letter does NOT state that reason and I requested a refund of my deposit and appraisal fee.
I was then contacted by the salesperson who informed me that unless I allow NV Mortgage to resubmit my loan, the builder would keep my deposit and perhaps hold me liable for loss of sale. I asked the question why do I have a legal document that is being disregarded? No acceptable reason could be given. The sales person further stated, my deposit would be refunded if declined a second time. Reluctantly, I agreed, due to the fact nothing had changed except for the fact, I now have a car payment.
I purchased a vehicle after receiving the declination letter.
On XXXX XXXX, 2016, a second application was submitted.
I spoke with the lender, who informed me that my " debt ratio was fine even with the new car payment! I find it odd and questionable that a month later, my " excessive credit obligations '' are no longer an issue! I informed the builder and the lender that I have moved on and perhaps will revisit the possibility of purchasing a home at a later time.
I then received a call from the VP of NV Homes in an attempt to encourage me to purchase a home in a development that has not sold any homes! XXXX XXXX XXXX XXXX XXXX XXXX informed me that my deposit would not be refunded but he could guarantee me a home loan. When I asked about the rate and mortgage payment, XXXX XXXX could not answer the question.
It is obvious, that the builder can not sell these homes and would do whatever it takes to make a sale before the end of the year. I am also interested in how I could be approved so easily now after being declined a month ago.
I am not interested in a high interest sub loan that would create huge debt and hardship.To this day, I have NOT received a letter regarding the default of the payment schedule nor any additional documents referring to the loan process. I feel that I have been more than patient with XXXX only objective is to sell a home and not taking into consideration the customers ' needs and or concerns. I entered the payment agreement with the understanding that if my loan was not approved, I would get my money back. Furthermore, as a consumer, I feel that NV 's deceitful practices should be evaluated and memories of the mortgage crisis several years ago are brought to mind.
are brought to mind.
that lead to foreclosures and or bad loans.
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| 01/03/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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Here is a quick background on the case : 1. Purchaser, entered into a contract to build and purchase the home from XXXX XXXX XXXX XXXX referred to as Seller on XX/XX/XXXX.
2. The contract was for the purchase of the above home by the Purchaser for the purpose of primary residence, as indicated in the contract. 3. The P
urchaser worked diligently with the Lender, NVR Mortgage Finance , Inc., referred to as NVRM within the contract and secured a loan approval for the above purchase. NVRM and Seller are both owned by one larger corporate body. Therefore, as stipulated in the contract, the Purchaser had secured a loan approval 45 days within the date of the agreement signed on XX/XX/XXXX.
4. Purchaser worked with NVRM and responded to all information requests as well as met all conditions set forth for securing a loan on the above purchase.
5. Furthermore, Purchaser was transparent and kept NVRM and Seller informed of all status changes, specifically, the change in the employment starting XX/XX/XXXX During this time, the Purchaser certified their intent to occupy the above residence as their primary residence. NVRM requested a certification to this effect which was provided as well.
6. The Settlement Date communicated to Purchaser was XX/XX/XXXX in preparation for which, the Purchaser met with the Construction Project Manager on XX/XX/XXXX in good faith for a final walk-through of the home.
7. NVRM communicated to the Purchaser onXX/XX/XXXX that they would be unable to secure financing on the property as a primary residence due to change in employment.
Based on the above, the Purchaser has 2 options as explained by NVRM representative, on XX/XX/XXXX : O
ption 1 : Seek financing on the above property as an investment home which entails higher interest rate and substantially higher down payment requirement. This is not financially viable and would put severe financial stress on the Purchaser. Option 2 : Purchaser terminate the contract due to lack of financing as a primary residence and lose the ~ $ XXXX in hand money.
With reference to option 2, the Purchaser has been in compliance with the conditions set forth in the purchase agreement and has done everything in good faith to purchase the home. The inability of NVRM to secure a loan as a primary residence for the Purchaser does not constitute a breach of contract by the Purchaser.
As outlined in section 12 ( b ) of the contract : 12 ( b ) Default-Seller. We will be deemed to be in default upon Our failure ( 1 ) to complete Settlement as required hereunder ; or ( 2 ) to perform the obligations required to be performed by Us hereunder prior to Settlement, unless You are in default. Your sole and exclusive remedy if We default shall be to recover Your Deposit ( as defined in Paragraph 2 and to the extent previously paid to Us ) plus interest on Your Deposit at the legal rate since the date of Our breach or default, plus the sum of XXXX XXXX Dollars ( {$1000.00} ) as liquidated damages and not a penalty ( which sum is a reasonable estimate of actual damages which can not be forecasted with certainty ), in return for which You and We shall be automatically released from this Agreement and You would have no further rights to the Property.
Based on the facts of the case listed above, the Seller, its agent ( NVRM ) or its representatives were requested to cancel the contract and refund the hand money to Purchaser.
The Seller called they Purchaser after XXXX XXXX on XXXX and pressurized the seller to seek another mortgage after being denied mortgage from their lender of choice. This is predatory practice of sales as well as lending and intimidatory tactics deployed by the firm are deplorable.
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| 06/26/2015 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
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- Loan modification,collection,foreclosure
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Web |
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I am writing because I am currently about to be foreclosed upon because I am unable to sell a home I purchased in XXXX XXXX. I am unable to sell the home because of a fraudulent note provided by NVR Homes Settlement Company on XXXX XXXX, XXXX and a XXXX year interest only note I was provided by XXXX XXXX XXXX as a result, also on XXXX XXXX, XXXX. Here are the circumstances that led to my signing the note : On XXXX XXXX, XXXX when I signed my contract to purchase my home from NVR Homes, the contract had a cost estimate evaluation for a XXXX Interest Only ARM ( see enclosure ). After the contract was signed, NVR Homes Mortgage company was unable to procure this ARM and offered me a sub-prime loan, which I refused. My credit score was well over XXXX. After I found my own financing, NVR produced a HUD 1 statement with a XXXX year fixed mortgage at a 6.5 % interest rate. At the closing table in XXXX XXXX, I read the settlement paperwork and instead of a fixed rate of 6.5 %, the interest rate was stated as prime plus 1 %. I was told by the NVR settlement staff that the numbers were the same and it was just worded differently. I even called the NVR mortgage agent, ( redacted ), at the table and she assured me the numbers were the same. I left the settlement table and went directly to a local XXXX XXXX XXXX to confirm the loan I signed was the same as the NVR HUD 1 statement. The XXXX XXXX XXXX banker said it was not and that he would fix it. He produced a note that had the same interest rate and monthly payment as the HUD 1 and I simply was n't knowledgeable enough to notice it was a XXXX year interest only loan ( see enclosure ). I did not learn it was an interest only loan until a XXXX XXXX XXXX representative who was looking into a loan modification for me in XXXX wondered why my principal balance had not changed after XXXX years of paying my mortgage. I never missed a single payment in XXXX years until XXXX XXXX XXXX forced me not to pay for XXXX months in order to qualify for the loan modification. In XXXX, XXXX XXXX XXXX gave me a XXXX year mortgage at 6.5 % interest with a XXXX year ARM at 3.5 % interest ( see enclosure ).
I have submitted all of the paperwork I can find regarding the statements I made above. In XXXX, the XXXX banker kept the HUD 1 and original settlement paperwork from NVR Homes but the note I have attached was notarized by a XXXX notary public, ( redacted ), and not XXXX at the NVR Settlement office. I called the NVR Settlement Office to obtain a copy of the mortgage paperwork with the prime plus 1 % information but they said NVR Settlement Services , Inc. destroys all records after XXXX years. To add insult to injury, out of the XXXX homes NVR sold on my block, the only XXXX families in the neighborhood ( I am XXXX ) are in XXXX adjacent houses.
My credit score for XXXX years has been well over XXXX because I pay all of my bills on time. The only time my credit score was lower than XXXX was when I was forced by XXXX XXXX XXXX to miss loan payments for the loan modification and now my credit score is well below XXXX because my income is substantially lower and I am unable to sell a home in XXXX of the hottest markets in the country. I inquired about the huge national mortgage settlement in XXXX ( see enclosure for CFPB case XXXX ) but I do not qualify because ironically, my loan was serviced by XXXX but is owned by XXXX XXXX, a bank responsible for paying settlements to homeowners. Because of the lack of equity in the home and the fact that I owe {$250000.00} more than it is worth, I am unable to refinance or sell the home nor do I qualify for the HARP or HAMP programs, because my loan is not owned by XXXX XXXX or XXXX.
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| 02/05/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Older American |
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In XX/XX/XXXX I purchased a home from XXXX XXXX, in XXXX, Tn XXXX. In order to be pre approved I had to go through NVR Mortgage own by XXXX XXXX.
I agreed for them to pre-approve me and submitted an application. It was approved on XXXX for {$600000.00}. The house is to be finished on XXXX. I gave a {$30000.00} down-payment for the home.
After having been approved they told me that I had to pay off a car which I owe ( {$20000.00} ). I never agreed to do it. I told them no unless they removed the 25 % downpayment. This was communicated via XXXX. They started placing many demands, like paying for an appraisal months before the home was even started. It is still in a cement foundation they just poured on XXXX.
I told them that I wasn't going to pay for the appraisal until the home was built.
I told XXXX XXXX XXXX from NVR, XXXX, XXXX XXXX XXXX, XXXX XXXX, that I was probably going to use XXXX loans and not to do anything further in my account. Not to bill me for the appraisal and not to do anything else. I even asked him to stop calling me. I felt that they were harrasing me.
XXXX XXXX would ask me what I was buying with my debit card or credit card. I told him gift for my son. That I paid a doctor 's visit. He asked what for. I told him to stop that it was ridiculous and offensive. That I don't have to tell him what I buy my children or why I went to the doctor or write it on paper. That was a violation of my privacy. That is why I told him to stop calling me XXXX to stop everything.
Without my concent or permission. On XX/XX/XXXX, I found out through a credit agency that NVR ran my credit. I confronted them and asked them to remove the unauthorized credit check. XXXX XXXX XXXX, XXXX # XXXX, licensed in Tennessee is refusing to contact the credit bureaus to remove my unauthorized check.
Since the begining of the pre approval, which was ONLY to begin construction because I told them that I had other companies that I would use they have kept pushing me to use them and changed things.
I believe that it is a conflict of interest for them to force their mortgage company and insurance of choice on a person buying a home. To be requesting every single months bank statements and interrogating me as to what I buy or do even for amounts of {$9.00}.
Additionally, I am requesting for them to remove the credit check they did after I told them to stop and have even ignored their messages. This is hurting my score and ability to finance my home.
XXXX XXXX feels that she can run my credit report without asking when ever she or NVR decide. I sent various emails advising her to stop.
The address of the home is XXXX -- XXXX XXXX, XXXX, Tn XXXX. It is XXXX and it is still a concrete slab. I am including the contract in the report.
XXXX XXXX also told me that NVR locks interest rates for 180 days free of charge. During the contract she told the lock in period was 90 days never XXXX.
I would like to see the form that they lock the applicant for XXXX or that she offered that. She did say that I could extend for about XXXX months if I paid extra. That we could disclosed that at a later date.
My house was to be finished on XX/XX/XXXX, I would have taken that interest rate. It would have Fallen within the 180 days. She is misrepresenting.
I sent them a letter on XX/XX/XXXX, letting them know that I was thinking of using XXXX. That I had not decided yet who I was going to finance with. This is in writting. They still pursued the credit check without my consent. It will be attached.
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| 02/10/2023 |
Yes |
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Web |
Servicemember |
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I am XXXX XXXX in the XXXX. NVR ( Doing Business as XXXX XXXX ( XXXX ) ) has a new development in XXXX, XXXX. I saw on their website move-in ready homes. I contacted the office, viewed the completed property, then signed the Purchase Agreement with a Settlement date of XX/XX/XXXX. The Senior Sales Representative ( SSR ) said that we could do a quick close before XXXX using my VA Loan, because it was already finished and I wouldn't be able to select my own finishes. I was never told that permits were not approved nor that it was not a VA approved property by XXXX I did my part by sending in the documentation required by the VA. I continued to ask about the closing date. The SSR told me XXXX has up to 2 years to settle this contract even if the settlement date expired. I had to find a rental home for my family to move into so I could work. I was moving three hours to a new location. The loan officer and underwriter began pressuring me to write a letter of motivation/ testimonial of why I wanted to live in a XXXX. She didn't like my statement and said that it's required by the VA, when it's not, along with redundant requests. She said the letter of motivation was required to ensure investors were not buying the property, when there are 2 properties secured by investors using conventional loans ( see attached XXXX XXXX VA Building approval ). Furthermore, the Loan Officer was pressuring me to move forward with a different address, that is a smaller square footage to get me approved.
I was never notified NVR was awaiting VA approval of the building to give me the option to move forward or not to move forward before signing the Purchase Agreement. NVR saw and still sees me as a number to reach their goal to obtain veterans using VA Loans to occupy the building only. Veterans Affairs building approval was not approved when the Purchase Agreement was signed on XX/XX/XXXX. NVR did not apply for building approval until XX/XX/XXXX. The Condo Review was not completed until XX/XX/XXXX. NVR continued to operate unethically, by knowingly pursuing the contract without VA approval. Per the Page Four ( 4 ), titled " Pre-Sale Certification '' within the Condo Approval Submission, signed by XXXX XXXX, Vice-President and XXXX for XXXX XXXX XXXX XXXX XX/XX/XXXX, is used to document ... " the required agency minimum presale requirements of 30 % for FHA, 50 % for Conventional, and 70 % for VA. '' XXXX XXXX ' intent is to lock military and veterans into the homes by any means necessary, to include unethical business practices, such as their actions with me. At the time I signed the Purchase Agreement, there was no intent for NVR to close the contract by the dated Purchase Agreement of XX/XX/XXXX. As stated by their Loan Underwriter, XXXX XXXX, XXXX XXXX, XXXX, NVR had an internal date to close as XXXX.
Under a VA Loan, I would be required to occupy the property within 60 days of closing. I would still be required for the rent and current mortgage on my current home that I moved from. I asked if they would do an addendum for me to use a conventional loan, but was denied by NVR. I couldn't use the condo as a potential investment property. I received a Letter of Default and retention of all funds until I decided to go with a different lender. I still don't have a closing date and can't afford to pay rent, my current mortgage, and an additional mortgage if forced to close.
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| 05/01/2015 |
Yes |
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- Application, originator, mortgage broker
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Web |
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1. On Friday, XX/XX/XXXX XXXX we sent an inquiry to the CFPB regarding XXXX XXXX ( NVR ) steering us into a loan from their mortgage company, XXXX XXXX Mortgage ( XXXX ) under the guise of incentives while their XXXX loan originator steered us into their most expensive loan with exorbitant rates, fees and junk fees. That inquiry contains more than the XXXX characters that the CFPB Complaint Submission form allows. We would like to incorporate that document. We also have supporting documentation.
Since XXXX XXXX, NVR has attempted to " terminate '' the sales contract that we have fully complied with simply because we refused to continue with XXXX without a new GFE. XXXX 's exorbitant fees more than outweighed the financial incentives they offered. We have already provided NVR with XXXX copies of the " pre-approval '' that NVR sales agents specifically requested from us to comply with the mortgage clause in our sales contract. This " pre-approval '' meets the stated and written requirements of NVR 's sales agents, the NVR sales contract and the accompanying NVR " Homeowner Documents '' binder, it is also the only " approval '' that may be obtained without a completed build and an appraisal of sufficient value. We also have several other lenders awaiting the completion of our build to quote our end loan, which may only be approved once the build is complete and the appraisal comes in at or above the sales price. Contrary to all of NVR 's prior communications, immediately after we informed NVR that we would not obtain our loan through XXXX, NVR breached our contract. NVR also delivered a WORTHLESS CHECK to us as part of NVR 's attempt to justify selling our lot to someone else, while we have a valid sales contract and a {$10000.00} deposit with NVR. We made our initial deposit to reserve our lot back in XX/XX/XXXX. Even so, NVR has just begun building a house on our lot that is not the house that we have spent four months, making selections, mortgage applications and other plans for. NVR is building on our lot while there are several surrounding lots adjacent to it.
To make matters worse, when I attempted to notify the President of XXXX ( NVR ) of the unethical and illegal practices of NVR 's employees here in the State of XXXX, NVR employees continuously lied to me and ultimately refused to put me through to the President 's office. Instead, this is the last response that we received from NVR and XXXX.
" XXXX, As you should know from prior correspondence, I serve as Vice President and General Counsel of NVR , Inc. XXXX XXXX XXXX. The issues you have raised have been fully discussed in multiple emails and other correspondence. We are not going to continue to debate these issues. If you have a claim, file it. Any other communications should be addressed exclusively to me but as noted above we are not going to engage in an ongoing debate. End of story. XXXX XXXX XXXX, XXXX. The XXXX XXXX Firm P.C. XXXX XXXX XXXX XXXX XXXX XXXX, VA XXXX Telephone : ( XXXX ) XXXX Facsimile : ( XXXX ) XXXX Email : XXXXXXXXXXXX '' XXXX XXXX considers my contacting XXXX regarding their sending us a WORTHLESS CHECK, and other NVR errors and omissions as well as NVR unethical and illegal activities, to be an ongoing " debate. '' We certainly do n't consider our attempts to enforce our sales contract or to recover our funds " to be an ongoing 'debate. ' ''
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| 03/06/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
Servicemember |
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I purchased a new construction home. The homebuilder is NVR IncXXXX, XXXX XXXX XXXX. I used NVR Mortgage Finance, a related company to the homebuilder by common ownership. The appraisal ordered by NVR Mortgage appears to violate several independence and USPAP standards and gives the appearance of inpropriety. I contacted NVR Mortgage several times with my concerns, but they indicated they reviewed the appraisal and confirmed it was an appropriate appraisal. The mortgage was sold to XXXX XXXX post-closing.
The concerns I have with the appraisal are : - The primary comp used in the appraisal is a related transaction. The comp was the homebuilder 's model home that was sold to an investor. The homebuilder and the mortgage company who ordered the appraisal are related by common ownership. The appraisal indicates this was the PRIMARY comp.
- There is an undisclosed and ongoing financial relationship with the homebuilder and the investor who bought the model home. The investor currently leases the model home back to the homebuilder who uses the home as a model for the subject subdivision. Sale-leaseback relationship was confirmed by NVR Mortgage employee XXXX XXXX XXXX
- In addition, the investor who bought the model home in this subdivision has bought other XXXX model homes and likely has a similar sale-leaseback relationship in at least one nearby subdivision. This was confirmed by a county records search. The investor owns the model home in the XXXX XXXX at XXXX XXXX development as well as the development my home is located.
- The investor is an out of state buyer who was able to buy a model home from a homebuilder without the home being publicly marketed for sale. I lived in this development prior to and after the model home was sold. In addition to the ongoing financial relationship the homebuilder and investor has, there is the appearance of an undisclosed relationship outside the sale-leaseback arrangement whereby the investor is made aware of model home sales by the builder.
- Due to the undisclosed financial relationships between the homebuilder and investor, there is the possibility and appearance the homebuilder is using the model home sale to manipulate valuations of future home sales in their developments. The parent company of the homebuilder and mortgage company has a financial incentive to use manipulated valuations.
- It is possible, the XXXX either knowingly or unknowingly is confirming manipulated valuations by not disclosing the related transactions, as described above. Disclosing the relationships between the homebuilder, investor and mortgage company would certainly raise professional standards concerns and potentially render the appraisal inappropriate in consumer transactions.
Appearances are everything. The above undisclosed relationships between the homebuilder, mortgage company and investor does not give me confidence consumers are being treated fairly and ethically. I also question conformance to federal consumer mortgage regulations.
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| 05/01/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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I am having a house built by XXXX XXXX and using their preferred in-house lender NVR Mortgage to be able to take advantage of the closing cost credit they are offering of {$10000.00}. This company has done nothing but shady stuff the entire mortgage process, such as telling me they'd beat or match an offer from another company and then I literally had to work my way up the ladder to managers to get them to beat that offer. Now the latest shady thing, probably unethical and predatory thing they've done is for the past 7 months, the property taxes on all my loan estimates have been {$180.00}. 1 week before closing they issue a new loan estimate with property taxes of {$290.00}. That is a 61.1 % increase in property taxes. When I reached out to my loan officer, XXXX XXXX XXXX, he advised that the county increased their taxes. I said OK, I will contact the county and see if they did. I contact the XXXX XXXX tax collector 's office and they advised me of the opposite. They had lowered taxes from XXXX to .XXXX, and the city tax for XXXX of XXXX had not changed recently at all. When I spoke to XXXX about this last Thursday, he said that their attorneys provide them with this tax information and that they were using that information. But when you do the math out ( ( XXXX [ original tax amount ] x 12 [ months ] ) XXXX [ price of the home ] ) x 100 [ to get the percentage or mill rate = XXXX. That mill rate is very close to the previous mill rate of the COUNTY alone which was XXXX in XXXX. This is very deceptive of them to be doing when I have fought like XXXX to get my payment down to where it was and then a week before closing they issue new loan estimates with a payment now {$110.00} more than it was. This makes no sense to me. The tax rates have been the same since XXXX, the home building process started in XXXX of XXXX. A lender should not be able to do this. This is deceptive lending and unethical at the least. They've stated that, on the loan estimates it says this amount can change, which yes it can, and I understand that. However, I don't think when that text was put there that they meant it can go up by 61 %. Furthermore, they now want me to be paying the property taxes of {$290.00} a month for the rest of the year even after I've CONFIRMED with XXXX from the XXXX XXXX tax assessors office that the remaining taxes for this year are set at {$730.00} and that they will reassess the property either in XXXX of this year of XXXX of XXXX. Once the property is reassessed my taxes will then go up. In the meantime though, the seller/builder is trying to force me to pay an amount that hasn't even been decided yet, because a new assessment has not even been done yet. If the house is reassessed in XXXX, the taxes for XXXX through XXXX will be due in XXXX. Which if I'm making monthly payments to my escrow account, then common logic would dictate that there is enough in the account for the taxes that are due in XXXX
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| 01/09/2020 |
Yes |
- Mortgage
- Other type of mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Client entered into contract with XXXX XXXX on XX/XX/2019 to purchase a new construction home with USDA financing. The customer was given a {$8000.00} credit towards closings cost if they used the home builder 's financing team, NVR Mortgage Finance , INC . Customer submitted a deposit in the amount of {$3500.00}, on the contract date of XX/XX/2019.
On XX/XX/2019, customer submitted required documentation to NVR through client portal. NVR then notified that the clients did not qualify for the USDA loan program. NVR has since notified the clients that they could qualify for a 5 % conventional or a 3.5 % FHA loan which is not the loan type, nor the interest rate that they initially applied for. USDA offers zero percent down payment and a lower interest rate. The loan programs NVR is offering the clients, not only require down payment but also have a higher interest rate and higher monthly mortgage commitment. Client does not have the required funds to continue with a 5 % conventional or 3.5 % FHA, which was outlined to the home builder representative on contract date of XX/XX/2019.
Customer and real estate agent have contacted the home builder representative and manager multiple times to initiate the deposit refund process and have been told numerous times that the deposit of {$3500.00} will not be refunded back to the client, due to the fact that permitting process has already been initiated. Clients and real estate agent have both researched the new property address within the XXXX County Permitting Department and no records show that permitting has been initiated for that lot, which differs from the information clients were given on reasoning for denied deposit refund.
Clients and real estate agent have requested the loan break out / cost estimates from NVR for the 5 % conventional and 3.5 % FHA and have yet to receive the information but have received the loan application through their client portal. In addition to not receiving this requested information, the seller ( XXXX XXXX ) credit of {$8000.00} was not reflected in the conventional Uniform Residential Loan Application that NVR sent to the client. Instead, the credit outlined was only {$7400.00}.
Both NVR and XXXX XXXX have used intimidation tactics to ideally force the clients into using NVR Mortgage and obtaining a mortgage with a higher interest rate and more money required for down payment. The clients feel forced into moving forward with a loan they could potentially not afford, since the home builder will not refund their deposit. The clients do not wish to move forward and have notified XXXX XXXX numerous times. XXXX XXXX has expressed that the deposit will not be refunded.
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| 01/05/2022 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Hi I believe I haven a victim of boycotting in 3 different morgate brokers I have trying get a home loan approval submitted my pay stuff and talking to the loan processor at those 3 companies and they all denied my loan.they never provide me with a denial letter stating the reason for it. Only orally they state that I don't qualify because my income is low and the have to high iloan to income ratio.
Attached you'll find my pay stuff. I even calculate the loan to income ratio myself and in 48. Stay low and I can qualify for FHA.Even my son was suppose to be my cosigner and they state isn't approved.
The firts company is NVR Mortgage The name of Loan processor XXXX XXXX.
Date XX/XX/2021 to present. I had a contract with XXXX XXXX signed in XXXX 2021.He pre-approved me for it. I got unemployed XX/XX/2021.
I called explained. They let me get another job. I stater to work on XX/XX/2021. 2 jobs.
One at sesalons pay with w2. And XXXX XXXX pay 1099.
All paystuff submitted by email to him.
Even my son pay stuff.
I haven received the declined loan letter.
Just a phone call by him saying he only use my base salary he can't use 1099.
And he just called me today again XXXX XX/XX/XXXX at XXXXXXXX XXXX to confirm he didn't approved it I asked him again if he use my whole pay stuff amount he said yes. When he told me he couldn't. The loan amount was suppose to be XXXX.
I had putted XXXX in down-payment. Wich XXXXXXXX XXXX refunded to me.he also said I'll be getting the declined loan letter in 10 days.
Second company I applied to is The XXXX XXXX of XXXX XXXX.
I firts apply with XXXX XXXX then XXXX XXXX was in contact with me. Her assistant I believed. Then a 3er person stating was the loan coordinator manager called me and stated it we won't qualify because the loan to income ratio was to high. And he can only use my base salary not my whole pay check amount. And neither my son whole pay check. Wich is absurd. That is the proved of income and we pay taxes to whole amount. I requested her the declined letter that by RESPA I'm suppose to get with the reason of the denial and she said she is not use to it to send any because it has the names and head names of the company.
Yes I have been a victim of boycotting and racism..
XXXX XXXX license XXXX Loan number XXXX And XXXX XXXX XXXX she/her/hers Branch Manager XXXX # XXXX OfficeXXXX Cell : XXXX Fax : XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, NC XXXX Attached you'll find the paystuff and contract.
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| 03/31/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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XX/XX/2022 I locked in a rate XXXX with NVR had my loan estimate signed and completed. my loan officers plan was to use part of my down-payment to pay off my lease to keep me under 50 % debt to income ratio. XXXX I get contacted my the loan officer with an issue with his plan. The paying off the lease would not change my debt to income ratio. so eventual he got back to me saying they would get me to 2.75 % and that would work. I said ok. The lender then sent me a revised loan estimate on XX/XX/XXXX which supposedly brought my mortgage down. cost of home is XXXX, loan amount is for XXXX closing cost total XXXX, down-payment XXXX, already paid XXXX, seller credit XXXX and total owed at closing XXXX so today I recieved my closing disclosure total cost/loan amount I'd the same down payment total is XXXX less, seller credit is now XXXX. total due at closing now is XXXX the lenders excuse to why they were different were because he was playing with the numbers to get me where I needed and just said the XXXX was an error. but him and I had a conversation on the phone when I received the loan estimate and asked if this was the correct amount I will be paying at closing he stated yes. never did he say this was just him playing with the numbers. I never recieved another loan estimate after the one on the XXXX with any changes that he claimed he was playing with. now less than a week before closing I get a closing disclosure XXXX more than the last loan estimate my original rate at XXXX was matched to XXXX XXXX XXXX with just a fee of XXXX matching them. when they dropped my rate the amount went to XXXX but the XXXX seller credit squatched it. now there claiming that it was not XXXX on any of the other documents and I examined because the rate charge was only the XXXX we agreed on. NVR lender messed up causing the issue and the reason for the rate charge. that's what I assumed the XXXX was for. now they are tryi.g to get put of it and have me pay for their mistake. I told the lender these are all legal documents I signed the last loan estimate because it was exact to what I will be paying otherwise if he was just playing g with number I should have recie Ed an exact document with the correct information. not a completely different document 6 days before closing.
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| 05/28/2019 |
No |
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Web |
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In XXXX of 2019, we received a loan estimate detailing how much we'd owe for down payment on a conventional loan. We decided to switch to a FHA loan after selling our condo to lock in a lower fixed interest rate and reduce cash to close. In early XXXX, we received our first FHA loan estimate stating we needed XXXX cash to close. Given this amount, we decided to finance some of this amount to get to a lower cash to close amount of XXXX. Unknowing to us, the loan officer made a mistake to the amount of the seller credit and had been showing the incorrect amount to us since early XXXX. We are scheduled to close on XX/XX/XXXX and just found out XX/XX/XXXX of the error and are being asked to bring XXXX cash to close with only 6 days notice. We feel this is completely unfair to us and had we known in advance, we could have planned differently and might have made difference decisions.
At this point, NVR Mortgage/XXXX XXXX is recommending a 5/1 ARM FHA loan to return the amount of money we were paying to lock in the interest rate. Of course this comes with a {$40.00} increase in payment per month because of the interest rate differences and we'd still have to come up with roughly XXXX more than what was on the estimate. This is definitely better than XXXX but the company doesn't appear to be assisting in an error they created and we are being asked to pay for their mistakes by taking a higher interest rate, paying more money cash to close, losing a fixed interest rate, definitely needing to refinance, etc.
The other option is to stay with the same fixed rate and they reduce the loan amount ( points ) we pay in half from XXXX to XXXX. This will save us XXXX but we are still looking at paying roughly XXXX more than what was on the estimate. I understand that estimates are not perfect but you dont expect them to be XXXX off and we feel completely blindsided by this. I even shared with the loan officer that something similar happened to me before and he assured me that his estimates are never off this much yet I find myself in the same position. Its not so much about the money than it is about doing what's ethical. If you make a mistake, you should do what you can to resolve the problem and I dont feel NVR Mortgage/XXXX XXXX cares to do that at this point.
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| 01/03/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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I purchased a new construction with XXXX XXXX in XXXX, MD and used XXXX XXXX in-house lender, NVR Mortgage, as my mortgage lender. However, due my loan officer and NVR Mortgages negligence, they failed to provide me with the information that I needed to properly submit an application for the Maryland HomeCredit Program, which offers eligible first-time home buyers an annual tax credit of {$2000.00} for the life of the loan. I first inquired with my loan officer during our initial meeting on XXXX XXXX, 2017 and had submitted several follow-up inquiries regarding the application process for the Maryland HomeCredit Program to her over the course of the 5-months that my home was under construction. Despite the 8 e-mail and phone inquiries during this period, my loan officer only responded to me once and told me that the application would be provided to me at settlement, which would still be sufficient time. However, I was not provided with an application at closing, and it would be another 3 weeks after settlement that my loan officer would share an application for the XXXX XXXX XXXX which was not the Program that I had been seeking. When I finally received the Homestead exemption application, I immediately notified NVR Mortgage of the problem. They researched the issue for several weeks and was found that I would no longer qualify for the Maryland HomeCredit Program because the application needed to be submitted by the lender prior to closing. So it was too late. As a result, I suffered a potential loss of {$51000.00} in tax credits over the course of my 30-year mortgage.
While NVR Mortgage has acknowledged that they were fully at fault for not responding to my inquiries in a timely fashion before closing, they had determined that, despite the fact that my loan officer had recommended that I put down a smaller down payment than what I could have offered and for which, I could have adjusted if I was provided with the correct information before closing. As a result, my loan exceeded the eligibility criteria for the Program, and NVR Mortgage 's corporate office does not feel that they need to take any action or responsibility for this negligence.
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| 08/23/2017 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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XX/XX/XXXX : Signed contract with builder XXXX XXXX to build new house in XXXX, VA. Paid {$5000.00} earnest money deposit at this time to begin process. XX/XX/XXXX : Spoke with NVR Mortgage, who is XXXX XXXX 's lender, to start pre-approval process for VA home loan based on military XXXX pay. XX/XX/XXXX : Met with XXXX XXXX of NVR Mortgage to sign documents to start the pre-approval loan process. XX/XX/XXXX : Received job offer from XXXX XXXX XXXX XXXX due to XXXX from XXXX XXXX on XX/XX/XXXX. This job results in over {$30000.00} pay cut. Previously not aware this high of a pay loss was going to occur during transition from XXXX XXXX military to the civilian sector as a XXXX XXXX, XXXX. XX/XX/XXXX : Accepted job offer with XXXX XXXX XXXX XXXX to start XX/XX/XXXX. Gave notice to XXXX XXXX, XXXX XXXX, stating I am receiving pay cut from {$97000.00} to {$60000.00} and do n't believe I can afford a home of this XXXX come time to close on house XX/XX/XXXX. I do not believe I will be approved for a home loan with this yearly income. I plan on joining the XXXX XXXX XXXX XXXX, however, do not have orders stating this will occur as of yet. XX/XX/XXXX : Spoke with XXXX XXXX XXXX, XXXX XXXX, regarding loan approval. Lender stated unlikely approval would occur with projected yearly income. XX/XX/XXXX : XXXX XXXX, sales representative with XXXX XXXX, stated I had to submit a letter of reason stating why I wanted to end the contract with XXXX XXXX and submit a letter of " termination '' from my employer in order to receive the earnest money deposit back and cancel the contract. I submitted this statement of reason to XXXX XXXX as well as my XXXX stating end of XXXX XXXX service with the United States XXXX on XX/XX/XXXX XX/XX/XXXX : Received a notice of Default of the Purchase Agreement from XXXX XXXX, XXXX XXXX, stating I 'defaulted ' on the contract and would not receive my earnest money deposit back of {$5000.00}. XX/XX/XXXX : Submitted statement to XXXX XXXX, XXXX XXXX, serving notice I do not agree nor accept the terms and conditions of this termination letter.
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| 10/14/2022 |
Yes |
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Web |
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I put a contract on a newly construction around XX/XX/2022 for a townhouse with XXXX home. I was assigned to a loan officer named XXXX XXXX who worked for NVR Mortgage. I wanted to apply for the USDA program in which XXXX XXXX didnt recommend. He stated that I would enter into a mortgage upside down which was confusing to me. During the whole 6 months process XXXX XXXX sent me on a wild goose chase, had me so confused to the point my realtor and I complained several times seeking to use a different lender but was told that I had to use XXXX XXXX. My main complaint is XXXX XXXX insisted that I had to purchase a car under XXXX from the money I used for the down payment to prove that I had transportation in order to get to and from work. XXXX transferred the money I gave them in The beginning back into my bank account. On XXXX XXXX at XXXX XXXX XXXX told me to start looking for a car. I was rushed and was given until the end of their business day to find a car get to my bank to get a cashiers check, and submit the the proof to XXXX. The day after I purchased the car I received a call from XXXX XXXX that he did a soft pull and saw that my credit score dropped XXXX points and I could not get the USDA loan. This whole process caused me to have XXXX and XXXX, which ended me in a XXXX XXXX XXXX. Thus whole situation put me in an extremely bad financial burden, I believe this was discriminatory. And because I was rushed to buy a car before the end of NVR business hours I ended up with a car that had lot of issues to which I had to put more money that I didnt have into. I had to start another loan process all over again with another lender with a FHA program, higher interest rate and higher mortgage payment. This was the worst experience that I ever had to endure in my entire life. NVR Mortgage showed no concern nor did I receive an apology or phone call from them. I worked long and hard hours hoping to get my dream home. I did everything I was told to do by NVR Mortgage I feel disappointed and felt this was a racist behavior and something needs to be done.
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| 02/12/2019 |
No |
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Web |
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My wife and I began the process of purchasing a new home with XXXX XXXX in XX/XX/XXXX. During our initial and consequent visits, we made it clear to our sales representative XXXX. XXXX that it clear that we not in a rush to move but we loved the development. We eventually decided to purchase to get ahead of the process with an expected closing date of after XX/XX/XXXX around XX/XX/XXXX. The day we picked the house, it was casually mentioned to us that we have to make a down payment based on 5 percent of the selling price instead of a preapproval letter as a way to get our skin in the game.
When we got home that Sunday evening, we received a email to make a {$6000.00} payment that was due in 24 hours and to XXXX some paperwork which we did. Next we realized we were expecting a baby and decided it will not be prudent to make a huge financial commitment with a baby on the way and my wife expected to work less. Our saleswoman XXXX.XXXX gave us a hard time even though at that point her manager did not sign the sales contract yet. She was convieniently off grace period for us to cancel the contract was over. My wife lost our baby on the same day. After which we decided to continue purchase the home. Fast forward, in our excitement, we signed other documents that moved our closing date to XXXX. We explained to Sister company ( NVR finance ) that we needed a later closing date so we not have to pay a {$2000.00} rent for our apartment since our lease is over in late XXXX. We have not received a response but we expect huge financial implications.
In this day and age, I am surprised to see a notable business take advantage of your trust and excitement. So far, the process has been a nightmare. The lack of compassion, manipulative culture is pervasive in both the XXXX XXXX and NVR mortgage. I hope our example can help others. Hardworking educated people like my wife and myself who work 10-12 hours a days, 6 days a week would not have thought it will happen to us but it did.
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| 03/07/2023 |
Yes |
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Web |
Servicemember |
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On XX/XX/XXXX, my wife and I applied for a mortgage loan through NVR mortgage. Shortly thereafter we were conditionally approved, and by XX/XX/XXXX of XXXX we had received an email that confirmed a closing date of XX/XX/XXXX. The email says, " this date is considered firm ''. The email also reads that any delay on the BUYER 'S part will result in additional fees. After moving across the country and paying to store our belongings, we reached out to NVR the day before close to confirm what we needed to bring to settlement. It was then that NVR told us our close had been moved to XX/XX/XXXX. This was never communicated to us at any point. Both online portals we had been using to submit documents still indicated a XX/XX/XXXX close. We had done our walk through of the home on XX/XX/XXXX, and the project manager on site also confirmed to us a close date of XX/XX/XXXX. Obviously he was unaware of the changes as well. NVR has told us they will " see what they can do '' about paying for our storage but refuse to honor the original close date. They claim the only thing holding up the process is for my wife to begin her new employment, instead of honoring the offer letter she has provided multiple times stating her salary and guarantee of full time work. Our commitment letter reads that the only thing required is verbal verification of employment within 10 days of closing. My wife has already been through her drug screen and employee health physical at this new place of employment but again, they are delaying until her first actual day of work. Both my spouse and I strategically took time off work, organized a move, set up utilities, etc., for a date that had been changed in XXXX that NO ONE communicated to us. We have our mail forwarded to a mailbox we don't have keys for for another 23 days. It is unacceptable that the buyer would have to pay a penalty for delaying close but all NVR has done is give us vague answers about how they plan on fixing this.
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| 08/18/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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On XXXX/XXXX/2015 I went to XXXX XXXX to consider purchasing a new house. The realtor XXXX XXXX told me that I would qualify for AT LEAST a 3.5 % interest rate. She even said that she was being " conservative '' and put it in writing. I asked how could I find out for sure? XXXX told me I had to sign a purchase agreement and talk to their sister companyNVR. I spoke with NVR Loan officer named XXXX as their normal loan officer XXXX XXXX was on vacation. I told XXXX that I did NOT want him to run my credit unless he could absolutely assure me that my rate would be below a 3.75 %. I did not want him to ding my credit. XXXX assured me that he absolutely thought that 3.75 % or even lower was possible as XXXX had put on my good faith estimate. Given his oral agreement ( prior to anything being signed XXXX XXXX ran my credit with understanding in place. On Monday XXXX/XXXX/2015 I went in to meet XXXX XXXX the usual loan officer that works with XXXX at XXXX XXXX. Loan officer XXXX XXXX XXXX XXXX is # XXXX. My wife and I sat down and I immediately said to XXXX XXXX, " XXXX, as you probably know we talked to XXXX at NVR while you were on vacation and he promised us that he would not run my credit unless you could hit at LEAST the percentage rate I gave him that all other lenders are currently offering. So we can make this a really fast yes or no if you tell me the interest rate. '' XXXX just said to just " sit down and we would review things first ''. As it so happens after 90 minutes of her blathering she pulled out a pre-printed sheet that had a completely different interest rate than what was said both verbally and on paper by either XXXX or XXXX XXXX. I was told I would get 3.5 % and I even said I would allow them to come in up to 3.75 % the price every other lender was offering. As you can see by the letter they put 3.5 % and said " that 's being conservative given your credit history ''.
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| 04/26/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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Good Afternoon.
I am in the process of closing on a home, and have switched over from NVR Mortgage, to XXXX XXXX XXXX. NVR was unable to complete my loan, and XXXX has me almost to my closing in a timely fashion. We are waiting on one document to finalize, which is a transfer letter of my appraisal from NVR Mortgage.
NVRM did not pay for the appraisal, I did. They are expressing to my new lender, that they wont give a transfer letter ( the only remaining item ) because its not XXXX compliant per XXXX XXXX XXXX. My new lender has sent them countless documentation that it is in fact compliant. From my understanding, XXXX XXXX XXXX has gotten a transfer letter from NVRM in the past, it just seems like the team I am dealing with is uneducated in their profession, and discriminatory towards their clients by not having their best interest in mind. They also are not allowing my lender to speak with their XXXX Department directly, who is the one making the final decision about this. They keep going in circles.
When I first spoke with XXXX XXXX about a transfer letter, she had asked me if it needed to be in a certain format, making me believe that she is unfamiliar with this practice, and is not communication correctly what is actually needed from them. The same woman who told me I was unable to get a denial letter because it " not in their practice '', which I did eventually receive from my loan officer NVR has been taking things out of context, and communicating misinformation since XX/XX/2022, and our original closing was XX/XX/XXXX, until last minute they were unable to complete my loan.
XXXX XXXX XXXX has been nothing but helpful, professional, and very educated in their profession. I would recommend them to anyone looking to buy a home, especially as a first time home buyer. NVRM on the other hand are a headache and then some.
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| 12/04/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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When building our new home my husband and I decided to work with the mortgage company recommended by our builder, NVR Mortgage. Overall the process was not smooth but in the end we closed on our dream home in XXXX 2015. Immediately after closing our mortgage was sold to another company. Last week we received notification that we had an escrow shortage of {$10000.00} and that our monthly payment was going to increase by over {$500.00}. After reviewing our closing documents and discussing with family and friends we discovered that the good faith estimate of our property taxes provided to us was fraudulent. Our property taxes were estimated to be only 1 % of our home value. Upon further research, standard in the business is an estimate of 1.5 %. Our actual property taxes are 2.12 % -- this information would have taken less than a minute to obtain by anyone preparing a good faith estimate. When making the decision to purchase our home we trusted the numbers that were quoted to us and were not told that this was an estimate. We were told that this will be your payment.
I work in the medical field and make decisions on a daily basis that affect people for the rest of their lives. This is not something that I take lightly. The grossly inaccurate good faith estimate that NVR mortgage presented to us will affect us for the next 30+ years. Medical malpractice is an act or omission by a healthcare provider which deviates from the expected standards of practice in the medical community and causes injury to the patient ''. NVR mortgage clearly deviated from the standard of practice when providing our quote on property tax. We would not have purchased this home if we had known what our actual payment would turn out to be. We now owe {$10000.00} and our monthly payment will be increasing by over {$500.00} per month. We are devastated.
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| 11/15/2023 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
- Application denials
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Web |
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I applied for a mortgage with NVR Mortgage Inc to purchase with their sister company XXXX XXXX XX/XX/2023, I received an initial disclosure and made mention to the sales agent XXXX XXXX for the sister company I would not be able to come up with the funds disclosed in that initial disclosure, she then had XXXX XXXX reach out to have a conversation with me about this where I made note to him I would not be able to accomplish what the initial disclosure was requesting he assured me that was not accurate and he would get things to work. On XX/XX/2023 i received another loan disclosure from XXXX XXXX the loan officer to which I needed to sell my car and/or pay off a loan to be able to qualify for the loan, I made attempts to get quotes on my car to which was too expensive and I further realized I would need my car for medical purposes. We then discussed trying to add a coborrower to try and qualify to which we did try to add XXXX XXXX on XX/XX/2023, on XX/XX/XXXX we switched from a ready to build home to a ready to move in home, and the process sped up, on XX/XX/2023, we received a further disclosure which again required me to pay off debt and bring a certain amount to closing to which I again told XXXX I was unable to meet, we notified NVR Mortgages and XXXX XXXX of this on XX/XX/2023. At this time after speaking to my realtor, we decided to terminate purchase since I was unable to meet qualifying/closing terms of the loan. NVR Mortgages inc in partner with their sister company refused to provide me with a loan denial letter per federal law which would state i was unable to meet loan requirements ( lower DTI and bring closing funds ). This therefore has allowed their sister company to state I defaulted on contract to purchase home in termination of the contract thus keeping my earnest money of {$7700.00}.
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| 05/21/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
Servicemember |
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Agreed to switch to NVR Mortgage contingent on all fees being waived. NVR said that they would have to charge me {$100.00} for appraisal but would refund me after closing. I called loan processor day before and day of closing to confirm this was still the case. On my closing documents I ended up being charged {$150.00} for appraisal. Waited a month for refund and still nothing. Eventually asked what problem was and they didnt even know a fee had been left on at closing. After looking into it they finally realized appraiser charged {$150.00} for a rush fee. Not sure how that is relevant to the original agreement of no fees on my end. Received the following explanations from NVR through email.
XXXX When you and I spoke the day before, I was not made aware of the fee that the appraiser added to the invoice. So what you and I discussed of the appraisal being refunded was completed. They have the ability to add that additional charge if they are turning around the report in under 24 hours. In this case they did. I am not directly involved, nor is XXXX with the ordering of the appraisals so neither of us would have been made aware of this till after the fact.
With what I confirmed with our Operations Director, yes we are not able to override our system and refund the rush fee that was applied to closing. Let me know if you have any other questions.
Thank you, XXXX XXXX, That is correct we can not reimburse the rush fee the appraiser charged. We covered all of your fees and provided you with an excellent deal. We also closed your loan in record time. I appreciate you giving us the opportunity to win your business and congratulations again on the closing.
This is either gross negligence for not informing me beforehand or they just straight up lied to me.
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| 05/06/2015 |
Yes |
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- Settlement process and costs
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Web |
Servicemember |
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We began a new home build, VA funded, with XXXX XXXX on XX/XX/XXXX. We agreed with them on XXXX on a interest rate and signed a Float/Lock Agreement and a Truth-In-Lending Statement and a Cost Analysis Worksheet agreeing on all finances for the new home : price, interest rate, and a return of {$890.00} due to us at closing. We were originally due to go to settlement on our new home at the beginning of XXXX. This was delayed to XXXX XXXX. Late in the afternoon of XXXX XXXX, we were notified that the closing would be delayed for an unknown time period while NVR Mortgage awaited receiving tax forms that we signed off to be ordered on XXXX XXXX. While we waited for the tax forms, they also contacted us requesting other forms, some of the forms had already been sent previously. We finally got word that the tax documents had bee received on the XXXX XXXX, BUT they still needed more copies of bank statement, to justify the paying off of bills with the proceeds of our sold home, and other forms in order to complete the process and go to underwriting and the a XXXX hour audit. On Tuesday, XXXX XXXX, we were finally contacted that we would be closing on XXXX XXXX at XXXX and an email stating that we needed to bring with us to closing a certified check for {$6500.00}. We have done a lot of research on this process and this is a standard practice of NVR Mortgage XXXX, VA office. Many other customers have dealt with this occurrence of changing the agreement at the last minute trying to squeeze us knowing that the move out date of our current house is XXXX XXXX, in 9 days. It seems that by questioning us on our funds at such a late date that they are seeing how far they can push us for the funds that they think we have available.
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| 03/29/2017 |
Yes |
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- Application, originator, mortgage broker
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Web |
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NVR INC, - XXXX. The sales and marketing folks located within the XXXX who are in some cases liscensed Real Estate Agents are not liscences mortgage loan brokers or originators. The Sales Rep quoted my wife and I mortgage interest rates, closing costs, financed MI, FHA premiums and monthly MI. They even estimated our interest rate without knowing our credit. In this case we ended up buying in a community that had a tax pilot. The Tax pilot was completely misrepresented in our Mortgage payment provided by our sales rep. They required us to use their lender by threatening contractually to raise our purchase price and to take away closing assistance provided to us by utilizing their NVRM company. We never wanted to use this mortgage company but they make it impossible to use another lender when they will make you pay almost XXXX more for not using them. There is no negotiation when it comes to this. Lastly, we are required to meet with their mortgage company, but that does n't happen timely and our attorney review period is over. The estimates being provided by the sales team do not even come close to what was shown to us by our lender. We were grossly misrepresented from the taxes, interest rates, FHA premiums etc. A complete bait and switch. The sales rep was using mortgage payment to encourage us to buy. On our estimate they even wrote, this is what your payment will " feel '' like after energy savings and tax benefits. I 've come to also learn that they are not accountants and the projected savings are just a tactic used to get you to buy. Watch out. this is scary stuff. We visited several other builders. None of them offered these financing options while buying ... very weird and sketchy
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| 12/07/2015 |
Yes |
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- Application, originator, mortgage broker
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Web |
Servicemember |
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My husband is in the XXXX and recently found out that due to military cutbacks, he will lose his job this summer. Knowing this, we contacted XXXX ( XX/XX/XXXX ) to let them know we would n't be able to purchase their home. The VP of XXXX said we were under contract and since he had a job now, we had to purchase the home. I explained to him ... as per our purchase agreement, I had to proceed with good faith and let NVR Mortgage know that our financial situation had changed. He said I did n't have to let the lender know because my husband was currently employed and that I had to close on the home. But I had a legal responsibility to let the lender know as well as a financial responsibility to our family not to incur a mortgage debt knowing we had no means to pay for it. I contacted NVR Mortgage to let them know of the situation. The NVR Senior Processor asked for a letter from my husband 's place of employment that verified his last day of work ( XX/XX/XXXX ). I provided this letter to her via email attachment on XX/XX/XXXX. Since then, neither the NVR Senior Processor nor anyone at XXXX has returned our phone calls or emails. I called other mortgage companies to make sure we were following the correct procedures. We were told that based on my husband 's employment ending this summer, we would not qualify for a loan and the lender should have provided us with a denial letter. The denial letter would then go to the builder so we could get our deposit back. We are so heartbroken over this situation. The military cutbacks are a hard reality to deal with alone. But now this lender is ignoring us because they work for the builder. Your help would be greatly appreciated. What can we do?
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| 05/17/2017 |
Yes |
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Web |
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I signed an agreement in XX/XX/XXXX to buy a XXXX home ( XXXX XXXX XXXX XXXX va XXXX ) Lot # XXXX . Community name is XXXX XXXX . At that time they told me that the house will be completed by XX/XX/XXXX , but it is still not completed as of today. Anyways meanwhile i started working with NVR mortgage for my loan approval and this is their own mortgage company. The loan officer send me an loan estimate on XX/XX/XXXX . According to that my interest rate was 3.50 %, loan amount XXXX , and cash to close was XXXX . Then he sends another estimate and then finally on XX/XX/XXXX they send me a closing disclosure, according to which my interest rate has increased to 3.875 % and closing costs to {$12000.00} and loan amount remains at XXXX . I tried to call the loan officer XXXX XXXX XXXX several times but he never answers the phone or calls back to clarify about the increase in interest lead that ultimately lead to an increase of {$35.00} in my monthly payment. In this whole process they approved my loan two times and pulled up my credit scores XXXX times because of their own mistake of delaying the house construction. Recently they scheduled my closing on XX/XX/XXXX which they again changed to XX/XX/XXXX and i am still not sure about that. I am very disappointed with he whole process. No one in the entire process from the project manager, loan officer to the settlement person knows that whats going on and what will be the right dates. I have saved all my communication and documents with them and i will attach the loan estimates and disclosure with this complaint.
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| 12/08/2017 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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In XXXX XXXX, my husband and I applied for a mortgage through NVR Mortgage ( NVRM ). In the application process, my husband indicated he had just become self-employed in XXXX XXXX. With our application, we deposited {$5000.00} for the new build. Our contract stated that in the event NVRM terminates the loan due to circumstances beyond our control, our deposit would be returned.
On XXXX XXXX, XXXX, my husband and I were preparing to close on our new home when we received a phone call from NVRM stating that they have " more conservative lending rules '' and would require at least 2 years of self-employment status in order to approve us for a loan. NVRM referred us to a different lender to try to get an exception to the 2-year rule, however, the new lender never provided a determination on the exception. We were later turned down for the loan, but NVRM based the denial on low credit scores. I contend that credit check was performed subsequent to NVRM 's inability to qualify us due to the short length of self-employment.
Following that discussion, my husband and I met with other lenders, talked to mortgage brokers, and conducted independent research to learn that there are no exceptions to the 2-year self-employment status.
On XXXX XXXX, XXXX, I sent an email to NVRM, requesting that our {$5000.00} deposit be returned in full, on the basis that my husband would never have been pre-qualified for a loan because he did not meet the 2-year minimum requirement and that their claims that an exception could be made seem false. NVRM has not agreed to return the {$5000.00}.
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| 10/09/2015 |
Yes |
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- Credit decision / Underwriting
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Web |
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I signed a contract with XXXX XXXX to purchase a new home in On XXXX XXXX, 2015, with the understanding that I would receive $ XXXX in closing if I " only '' use their mortgage company NVR Mortgage Financing. I was fully approved for the loan and my closing date has been set for XXXX XXXX, 2015. However, over the last few weeks, there is a back-and-forth conversation with NVR Mortgage Finance in regard to deferring my student loan. I told them in the beginning of this process and repeatedly thereafter that XXXX, my student loan servicer, will only defer my loan twelve ( 12 ) months at a time, but they want to extend it to 13 months. I was told by another lender that the reason for this is deceptive practices and that NVR Mortgage Financing plans to sell the mortgage loan as soon as possible. Three years ago, I experienced the same issue with NVR Mortgage Financing, whereas, after I applied for a twelve ( 12 ) month deferment, they wanted to me to push for 1 more month. Because I was unable to do so, they did not honor their agreement and I was not able to purchase the home. This time I want a resolution to this deceptive practice. You are held hostage by NVR Mortgage Financing with no other options until they decide that you are not worthy of their funds. They have accessed my credit report numerous times ( only XXXX of which I approved ) through XXXX, XXXX XXXX XXXX, XXXX XXXX XXXX, since I applied for the mortgage only to lower my score so that I would not be able to apply with another lender.
|
| 06/04/2015 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I signed house purchased contract with NVR Home in XX/XX/XXXX and got approved loan from NVR Mortgage in XX/XX/XXXX. At the time the expecting delivery date is between XXXX and XX/XX/XXXX. I decided 20 % down payment. However real settlement date is XX/XX/XXXX and I was able to save more money for down payment. On XXXX XXXX, I email Sr. Loan Processor XXXX XXXX XXXX that I want to increase down payment. He referred me to Loan Officer XXXX XXXX XXXX. XXXX XXXX called me, so I do n't have written record, that I have to extra processing fee in thousands by rough estimation. The better option is to recast afterward which is free in XXXX times. I took the offer.
In XX/XX/XXXX, my loan was resold to XXXX XXXX.
After I sold my old house, I call XXXX XXXX, XXXX XXXX XXXX for recast.
She said that I have to {$500.00} fee. I told her that this is my XXXX recast and it should be free. She said that she had to check with previous mortgage and asked contact information. So I forwarded NVR Mortgage loan officer contact information.
Several days later, she emailed me that I have to pay {$500.00} and asked me contact NVR Mortgage. I emailed XXXX XXXX and he said the charge is at discretion of mortgage company and denied he said it 's free.
I had no idea what is recast until he mention it. Had he said it 's not free, would n't I chosen pay higher down payment?
I feel being deceived. Both mortgage companies are benefit of charging me more.
|
| 07/07/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
|
|
My husband and I recently applied for a loan with NVR mortgages for our XXXX.
In our loan estimate ( attached ), we were charged a full year 's worth of property taxes at closing in addition to being asked for nine months of taxes to be held in escrow. My husband and I thought that the 21 months ' worth in taxes was excessive and asked the loan officer XXXX XXXX to only hold 2 or 3 months in escrow. She refused to change it but did ask the NVR settlement company to confirm 9 months was correct. The settlement company she was wrong and only 2 or 3 months was needed but XXXX only said it was a " computer issue '' and still never sent an updated estimate.
NVR and XXXX XXXX offer an incentive for using their preferred lender of {$15000.00} towards closing cost. The 21 months in taxes we were being charged totaled {$13000.00}, so it seems as if they were trying to exasperate charges to recoup for the incentive.
XXXX XXXX also ran our credit to determine our loan eligibility but did not disclose to us our actual scores. We asked her several times for the written scores and her response was " give me a call. '' We declined to pursue a NVR but still asked for the incentive and complained to XXXX XXXX ( XXXX 's superior ), but she told us NVR did nothing wrong.
NVR also did an unauthorized credit check on my husband and I around XXXX XXXX, long after we asked for our files to be shredded.
|
| 01/17/2019 |
No |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
My husband and I settled on a XXXX XXXX new construction on XX/XX/XXXX. During settlement we were told our mortgage will be sold within 30 days. On XX/XX/XXXX we received a letter from NVR Mortgage that our mortgage was sold to XXXX XXXX XXXX. On XX/XX/XXXX NVR reported our mortgage loan to the credit bureaus. Even though our loan had already been sold, and payments were supposed to go to XXXX XXXX. NVR Mortgage reported the loan as Open and current status. Again our loan had already been sold. on XX/XX/XXXX XXXX XXXX report the loan to the credit bureaus as an open account and current status with them. on XX/XX/XXXX NVR Mortgage reported the loan to the credit bureaus again. When my husband and i pulled our credit reports, we now have two open mortgage loans on our credit report ( one loan {$470000.00} and {$470000.00}. This is totaling a loan debt of {$950000.00} ). Both of our credit scores have dropped a combined 59 points. I have contacted our loan processor and settlement processor via email and voice message, and they have not responded. I have one mortgage loan, not two. My mortgage loan is with XXXX XXXX XXXX not NVR Mortgage Company. I have requested for NVR to report to the credit bureaus that my loan account with them is closed and they no longer have my loan. Nothing has been done.
|
| 01/22/2019 |
No |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
|
|
My husband and I settled on a XXXX XXXX new construction on XX/XX/XXXX. During settlement we were told our mortgage will be sold within 30 days. On XX/XX/XXXX we received a letter from NVR Mortgage that our mortgage was sold to XXXX XXXX XXXX. On XX/XX/XXXX NVR reported our mortgage loan to the credit bureaus. Even though our loan had already been sold, and payments were supposed to go to XXXX XXXX. NVR Mortgage reported the loan as Open and current status. Again our loan had already been sold. on XX/XX/XXXX XXXX XXXX report the loan to the credit bureaus as an open account and current status with them. on XX/XX/XXXX NVR Mortgage reported the loan to the credit bureaus again. When my husband and i pulled our credit reports, we now have two open mortgage loans on our credit report ( one loan {$470000.00} and {$470000.00}. This is totaling a loan debt of {$950000.00} ). Both of our credit scores have dropped a combined 59 points. I have contacted our loan processor and settlement processor via email and voice message, and they have not responded. I have one mortgage loan, not two. My mortgage loan is with XXXX XXXX XXXX not NVR Mortgage Company. I have requested for NVR to report to the credit bureaus that my loan account with them is closed and they no longer have my loan. Nothing has been done.
|
| 08/04/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
I paid {$33000.00} down payment for a mortgage on a townhome in XXXX to NVR mortgage. My fiance purchased a unit two doors down. Last week after closing. I was told that me and my fiance were living in the same building and they wanted to make sure I wasn't going to rent out my townhome and delayed my closing. They assumed I was going to this even though we told them that this was going to be my primary residence. NVR mortgage wanted me to sign a motivation document that said I was not going to rent out the property because of this. I asked where other people told to sign this paper or was my fiance told to sign this paper. The answer was no. I did not sign the paper because it wasn't a required document. I have not been approved or denied my mortgage for the townhome that I tried to get as of today. My home today on XX/XX/XXXX was listed on XXXX as up for sale. I have still not been approved or denied from the lender. If I was denied I should have the right to go find other lenders as NVR was the preferred lender. I assume the lender told XXXX XXXX that I was not going to get the property and they could put it up for sale on XXXX. I feel like I have been discriminated against due to my marital status and black balled from getting the property due to the connection NVR and XXXX XXXX have.
|
| 05/05/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
|
|
I signed an agreement to purchase a new construction loan from a builder. The builder has an associated lending company. I decided to shop around for a better mortgage and found a great rate with the same bank that services my checking and savings accounts. However, the builder claims to provide a significant incentive to use their lender. On the associated lender 's GFE for the loan, it shows that I would be responsible for the traditional XXXX % of transfer taxes and then shows a much lower seller credit than the claimed incentive. When I asked about this, the associated lender explained that the majority of the incentive is applied to the portion of the transfer taxes traditionally paid by the seller, then the remainder is applied as a seller credit. I took this as a marketing tactic and brushed it off. When I presented the builder with the loan estimate from my bank, they said that it was a bad deal and that I would miss out on the incentive and would have to pay the full transfer taxes if I proceeded. I think that this is a very deceptive practice and I do n't feel comfortable being strong-armed into paying more by using a different lender.
|
| 09/15/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
On XX/XX/2020 I signed a Loan Estimate with NVR Mortgage Finance for a 15 year mortgage at 2.5 %. On XX/XX/2020 I was sent paperwork to lock in at 2.65 % with no discussion on the large interest rate change. I questioned the increase and was told that the original Loan Estimate was not correct and NVR Mortgage said it was their secondary that made the mistake. I requested that this be escalated as I didnt think I should pay for an error made by NVR Mortgage or their secondary. NVR Mortgage refused and said I would have to pay 0.625 % points ( {$1800.00} ) to get the rate to the percentage they erroneously quoted me. In the interim, NVR Settlement sent me notification that I could not change my mortgage provider. I had no choice but to either pay the higher percentage or pay the points for the lower percentage. NVR Homes had given me an incentive of {$18000.00} to use their mortgage arm. So if I walked away I would risk not meeting my closing date of XX/XX/XXXX and I would no longer get the {$18000.00} incentive. NVR Mortgage actually eluded that the {$18000.00} would defray the {$1800.00} mistake and I would still be left with {$16000.00}.
|
| 05/31/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
On Monday, XX/XX/XXXX, I purchase a new built home from XXXX XXXX and NVR Mortgage at XXXX XXXX XXXX XXXX XXXX, XXXX XXXXXXXX. XXXX XXXX and NVR Mortgage have engaged in predatory lending practice by selling me a home that was originally appraised for {$520000.00} from one of their contractor 's companies, XXXX XXXX XXXX XXXX, XXXX, XXXX XXXX XXXX XXXX, XXXX XXXX XXXX by XXXX XXXX XXXX. On Monday, XX/XX/XXXX. XXXX XXXX conducted another appraisal for {$570000.00}. Lastly, on Friday, XX/XX/XXXX, XXXX XXXX sent XXXX XXXX and NVR Mortgage a final appraisal for {$580000.00} for which I paid {$580000.00} for the purchase of this house and NVR approved it. There was a {$59000.00} difference from the first appraisal and the last one XXXX XXXX and NVR Mortgage charged and approved me for the purchase of my house. This is a clear example of predatory lending. XXXX XXXX did not provide any justification as to why 3 appraisals all have inconsistent data and price increases less than 3 months. XXXX XXXX manipulated this data as it pertains to the appraisal of the sellers XXXX XXXX and NVR Mortgage benefits and profit.
|
| 11/05/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
|
|
I built a new construction home in XXXX XXXX, TN with the home builder NVR, INC., operating under their Tennessee XXXX XXXX XXXX XXXX. I was promised {$4500.00} in closing costs which was arbitrarily reduced to {$1500.00} when I did not use their affiliate mortgage company and title company. I was pressured with a week left before my closing to sign documents altering the contract reducing their contribution of closing costs by {$3000.00}. I did not plan for this and was forced to tap into my XXXX retirement savings account and pay the penalties associated. I was also forced to sign other documents a week before closing related to my use of an independent lender and title company. The pressure and steering to use the affiliated companies were extremely discouraging. I thought XXXX XXXX were to represent the TRANSACTION between buyer and seller? How can I be forced to use a title company affiliate. I did shopping for my mortgage with several lenders and I feel confident that the rates and junk fees quoted by NVR 's affiliate did NOT represent averages for the industry.
|
| 05/27/2020 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
I applied for a mortgage loan with NVR Mortgage Inc on XX/XX/2020 and I received a conditional approval on XX/XX/2020. At the time of the approval, my credit file contained a defaulted car loan account which XXXX XXXX told me that I would not have to pay off for the approval. He said they could manually underwrite my application and get it approved. However, on or around XX/XX/2020, XXXX contacted me by phone to say that NVR had tightened the requirements for approval and they would not be able to manually underwrite the application. I contacted the car loan company and tried the make a settlement. However, they refused to settle. I told XXXX that I could not afford to pay off the debt and have money for the closing. A few days later, XXXX XXXX with XXXX XXXX called to say the my application was denied. However, instead of getting a letter stating that my application was denied, I got a letter stating that I withdrew my application. I did not. I would like my file with NVR to reflect thats they denied my application for credit instead of showing that I withdrew it.
|
| 11/14/2016 |
Yes |
|
- Application, originator, mortgage broker
|
|
Web |
|
|
We purchased our new home in XXXX 2015. We later found out, almost 1.5 years later, that our home resides in a special tax assessment area called the XXXX XXXX XXXX XXXX XXXX ( XXXX for short ). This XXXX carries with it special tax burden that was not explained to us nor was it disclosed in the residential mortgage loan application, the purchase contract, the deed of trust, the truth-in-lending form, the good faith estimate, or any other legal document that such a property tax should have been disclosed in. The tax ultimately amounts to approximately {$53000.00} over the life of our 30-year mortgage, and the yearly assessment is expected to go up 2 % each year until the entire amount is paid in full. Many residents have contacted various entities involved with disclosing this information, such as the developer, XXXX, the home builder XXXX, the settlement company ( a subsidiary of NVR Mortgage ) and we have been very disappointed with the responses from each individual party.
|
| 09/20/2022 |
Yes |
|
|
|
Web |
Servicemember |
|
From the beginning of the mortgage process the company told me I had enough VA eligibility for both homes ( until I sold the home I was living in ). Through the months of the build process we were told we were fine. The loan went through underwriting and everything no problem. Two days before we closed they told us they made a mistake and never put in the VA eligibility into the loan. This meant in order for us to close two days always we had to put down XXXX dollars on top of the XXXX we already had to start the build process. This pushed back our closing date and cause huge issues with closing on the house we are selling. This institution told me that I would only have to pay XXXX XXXXXXXX XXXX if I wanted to close on the actual date then came back a day later and said XXXX. This wasnt the only issue we had with the lender NVR multiple communication issues and errors happened throughout the process.
|
| 08/21/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
On XX/XX/, NVR home mortgage sent an entire closing package to all parties on the loan. I and my husband did not consent to have our financial or personal information sent to the other two mortgagors on the loan ( we are co-signors on the mortgage ). NVR apologized and indicated that this is not part of their internal processes in a phone call conversation on XX/XX/. They offered a 1 year subscription to credit monitoring, which is worthless as people we have not authorized to see our data have the potential to do harm after 1 year of monitoring.
Their negligence and inability to have their Closers follow the processes they have in place to avoid situations like this has put us in a position to where we have to be even more hyper vigilant in protecting our personal information and has put us in potential harm for identify theft.
|
| 04/25/2023 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
2 Business days prior to close, XXXX. I was inform by voicemail and email that my closing was cancelled due to underwriting delaying my approval because of my occupation as a XXXX XXXX XXXX. My XXXX XXXX located XXXX Wisconsin for the last10yrs. I inform my loan office ( XXXX XXXX ) when I applied for my loan, that I was a XXXX XXXX XXXX. Subsequently, my loan was pass to others ( XXXX XXXX ) and ( XXXX XXXX ) and currently with ( XXXX XXXX ). All was aware of my occupation. I was uninformed that FHA Rule stating you have to live and work within 100 miles of your new home. I was instructed to quit my current job and move to Illinois to qualify for a FHA loan approval. I have been working with this company for the pass 2 yrs in hope to have the American Dream of owning a home.
|
| 02/20/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
I am scheduled to close on a mortgage for a new home on XX/XX/XXXX. I haven't received an updated Closing Disclosure since the beginning of the loan process and have requested it several times. Since the beginning of the loan, the closing date has changed ( causing per diem interest to be owed ) and the appraisal has been paid for out of pocket by me. In addition, the escrow amounts have been adjusted. I need to know if I'll have enough funds for closing and am concerned. My requests for a new CD since XX/XX/XXXX have not been fulfilled. Instead, the loan officer and loan processor continue to say that they are awaiting further details in order to provide a CD, like the HOI. This is minor and a CD can and should still be provided based on all the other changes.
|
| 12/18/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
In XX/XX/2021, upon inquiring for potential loan on a home, a mortgage loan officer sent a detailed email with my credit scores, creditors, account numbers, account balances, charge offs, collections, basically all personal details of my credit to me and blind carbon copied a real estate agent on that same email.
I obviously couldn't see the blind carbon copy initially. So upon revisiting the real estate agents office, she pulled up the email from the mortgage loan officer and showed me that she had been copied in the email and discussed it with me casually. I was taken back that she had all that information about my personal credit.
I can forward the email but would rather do so upon request as it contains personal information.
|
| 01/24/2018 |
Yes |
|
|
|
Web |
Servicemember |
|
I submitted all of my documents in a timely manner in order to close on my home in XX/XX/XXXX to XXXX XXXX XXXXXXXX. Although, XXXX XXXX XXXXXXXX was not on time with the deliverables to the closing agency ( XXXX XXXX XXXX XXXX I still ensure I responded and returned all of the required documents to them in a timely manner. XXXX XXXX XXXXXXXX is supposed to issued me {$75.00}. I e-mailed them and the closing agency XXXX XXXXXXXX XXXX e-mailed them on XX/XX/XXXX to follow up with the refund of {$75.00}. I e-mailed them again on XX/XX/XXXXto follow up and they said they sent the check out the day before, but I still have not received it. I am requesting that they refund the remainder of the funds that is warrant to me.
|
| 12/02/2016 |
Yes |
|
- Application, originator, mortgage broker
|
|
Web |
Servicemember |
|
Purchasing A NEW home.XX/XX/2016 got all the required paperwork to them timely. rates at the time were 3.25 or 3.74 no higher, We got preapproved prior to our additional deposit of XXXX on the balance. NVR Mortgage the company of the builder sat on our application for two months, until the rates went up and failed to include the additional sum they received or the fact that we asked for 15 year mortgage loan back on XXXX XXXX, 2016. Please help us. My husband is a XXXX Veteran and was approved for a VA loan. This is unheard of that they have not yet given us a 15 year mortgage or they have recalculated the loan subtracting the large sum, they initially stated they never received.
|
| 05/27/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
NVR initially approved my loan and then spent 7 months lowering my credit score by making hard inquiries every month. They then told my builder they were denying me a loan due to a low score. During the process NVR continued to collect my information as if they were going to approve the loan but did everything to lower my credit score to charge me a higher interest rate. As a XXXX vet with a guaranteed loan I feel they did this on purpose to discriminate against me. I complained to them and the builder who owns the company. The builder told me they were going to cancel my contract.
|
| 08/23/2017 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
We strongly feel that there is a conflict of interest / collusion between NVR Mortgage XXXX XXXX, NVR Builder ( XXXX XXXX ), NVR Settlement and XXXX XXXX XXXX XXXX XXXX. We paid these companies to represent us, not NVR Builder ( XXXX XXXX ) and we do n't feel that this occurred. There were numerous times that either mistakes were made or these companies did things that were not in our best interest. We strongly feel that we paid for services that we did n't receive. As a customer I felt we were held XXXX and paid fees for little to no representation.
|
| 03/09/2023 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
My complaint involves acts of mortgage fraud. I am showing that NVR mortgage did not following proper guidelines established by FHA regulations.
The following attachments are : Timeline : A description of events that took place during my mortgage process XXXX XXXX : All communication involving my mortgage NVR Documents : All documentation that I received for NVR MortgageXXXX XXXX XXXX XXXX Purchase Agreement : Purchase Agreement for XXXX XXXX Please be aware as of XX/XX/2023, this property has been sold.
|
| 11/03/2021 |
Yes |
- Mortgage
- Other type of mortgage
|
|
|
Web |
Servicemember |
|
I put a contract on new home at XXXX XXXX in XXXX XXXX Virginia on around XX/XX/2021 I was told that I had a derogatory item on credit by NVR mortgage and that it needed to be removed before closing. It was an erroneous item so I had it removed from my credit report. Now they are refusing to close and refusing to refund my deposit and harass me over the phone ( I have voice mail message from manager saying inaccurate derogatory statement ) and threatening not to give me me deposit back of XXXX dollars.
|
| 07/28/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
NVR Mortgage at XXXX XXXX in XXXX North Carolina, the company are holding the keys to my home. The closing has been recorded, the money has been wired and they are refusing to answer my calls. XXXX in the office stated I just dont want to have nothing to do with this they are holding the keys because of my color. They have showed complete racism toward me. They purposely made this experience difficult for me. I have documentation to prove it.
|
| 11/17/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I am currently building a new house and had authorized my builder and their lending company to perform a hard credit pull back in XXXX ( XX/XX/2021 ) which they did. The problem I have now is they have done another hard pull on XX/XX/2021 without my consent and without informing me. I want this to be taken back and delete the hard inquiries from XX/XX/2021 from my accounts.
Thanks!
|
| 01/19/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
|
|
NVR mortgage gives free kitchen upgrades to all purchasers of XXXX or XXXX homes that agree to use NVR mortgage and the NVR closing company. the rates and costs are not as good as a mortgage lender but the free stuff is clearly steering under your codes.
they should be stopped from doing this NVR XXXX XXXX XXXX XXXX XXXX XXXX XXXX va XXXX XXXX XXXX
|
| 01/15/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
The mortgage company NVR, involved in the financing of the home I'm having built, has informed me that my credit report shows I have paid off an existing loan. Which has caused my credit rating to drop from XXXX to XXXX. I find this unexceptionable. This has increased my down payment on the new home.
|
| 08/30/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
Older American |
|
I had secured a mortagage with my company of choice XXXX XXXX XXXX XXXX. As the time has come for closing XXXX XXXX want me to use their lender NVR mortgage company saying that i did not inform them in time If I used their mortgage they are going to charge me extra for going over the closing date.
|
| 07/03/2023 |
Yes |
|
|
|
Web |
|
|
Loan mortgage was denied one week before closing because I supposedly committed fraud on a document that was translated.
|
| 04/08/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
Borrower is offered a {$2700.00} bribe to use the sellers mortgage company
|
| 12/27/2023 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
- Confusing or misleading advertising or marketing
|
|
Web |
|
|
|
| 07/12/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web Referral |
|
|
|
| 01/09/2023 |
Yes |
- Debt collection
- Other debt
|
- Attempts to collect debt not owed
- Debt is not yours
|
|
Web |
|
|
|
| 11/28/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
|
| 11/03/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
Older American |
|
|
| 09/08/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
|
| 08/24/2022 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
|
| 04/08/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Phone |
|
|
|
| 01/23/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
|
| 01/11/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
|
| 01/07/2022 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
|
| 04/19/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
|
| 03/12/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Credit inquiries on your report that you don't recognize
|
|
Web |
Servicemember |
|
|
| 12/04/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
|
| 06/25/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
Older American |
|
|
| 06/05/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Referral |
|
|
|
| 09/07/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
|
| 03/22/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
|
| 12/13/2017 |
Yes |
- Mortgage
- Other type of mortgage
|
|
|
Referral |
|
|
|
| 11/20/2017 |
Yes |
- Mortgage
- Other type of mortgage
|
|
|
Web |
Servicemember |
|
|
| 11/09/2017 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
Older American |
|
|
| 09/26/2017 |
Yes |
|
|
|
Web |
|
|
|
| 06/26/2017 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
|
| 02/09/2017 |
Yes |
|
- Application, originator, mortgage broker
|
|
Web |
|
|
|
| 12/01/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Credit decision / Underwriting
|
|
Web |
|
|
|
| 11/04/2016 |
Yes |
|
- Application, originator, mortgage broker
|
|
Web |
|
|
|
| 10/12/2016 |
Yes |
|
- Settlement process and costs
|
|
Web |
|
|
|
| 08/04/2016 |
Yes |
|
- Application, originator, mortgage broker
|
|
Postal mail |
|
|
|
| 07/11/2016 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Settlement process and costs
|
|
Web |
|
|
|
| 06/27/2016 |
Yes |
|
- Loan modification,collection,foreclosure
|
|
Postal mail |
|
|
|
| 04/15/2016 |
Yes |
|
- Credit decision / Underwriting
|
|
Referral |
|
|
|
| 03/08/2016 |
Yes |
|
- Loan modification,collection,foreclosure
|
|
Postal mail |
|
|
|
| 01/07/2016 |
Yes |
|
- Settlement process and costs
|
|
Web |
|
|
|
| 12/11/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Referral |
|
|
|
| 12/08/2015 |
Yes |
|
- Application, originator, mortgage broker
|
|
Phone |
|
|
|
| 11/06/2015 |
Yes |
|
- Settlement process and costs
|
|
Web |
|
|
|
| 08/26/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Credit decision / Underwriting
|
|
Web |
|
|
|
| 08/14/2015 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan modification,collection,foreclosure
|
|
Postal mail |
|
|
|
| 05/29/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
|
|
|
| 04/15/2015 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan servicing, payments, escrow account
|
|
Web |
Servicemember |
|
|
| 03/25/2015 |
Yes |
|
- Loan modification,collection,foreclosure
|
|
Referral |
|
|
|
| 03/24/2015 |
Yes |
|
- Loan modification,collection,foreclosure
|
|
Referral |
|
|
|
| 02/25/2015 |
Yes |
|
- Credit decision / Underwriting
|
|
Web |
Servicemember |
|
|
| 01/29/2015 |
Yes |
|
- Application, originator, mortgage broker
|
|
Referral |
|
|
|
| 11/21/2014 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
|
|
|
| 11/12/2014 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Settlement process and costs
|
|
Web |
|
|
|
| 11/10/2014 |
Yes |
|
- Settlement process and costs
|
|
Referral |
|
|
|
| 11/06/2014 |
Yes |
|
- Settlement process and costs
|
|
Web |
|
|
|
| 11/06/2014 |
Yes |
|
- Settlement process and costs
|
|
Web |
|
|
|
| 10/31/2014 |
Yes |
|
- Application, originator, mortgage broker
|
|
Web |
Servicemember |
|
|
| 10/07/2014 |
Yes |
|
- Application, originator, mortgage broker
|
|
Web |
|
|
|
| 08/22/2014 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
|
|
|
| 07/28/2014 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
Older American |
|
|
| 07/23/2014 |
Yes |
|
- Application, originator, mortgage broker
|
|
Web |
Servicemember |
|
|
| 06/24/2014 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
|
|
|
| 02/05/2014 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Settlement process and costs
|
|
Web |
|
|
|
| 11/18/2013 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
|
|
|
| 11/17/2013 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
|
|
|
| 10/28/2013 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Settlement process and costs
|
|
Web |
|
|
|
| 10/08/2013 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
|
|
|
| 09/17/2013 |
Yes |
|
- Settlement process and costs
|
|
Postal mail |
|
|
|
| 09/11/2013 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
|
|
|
| 08/21/2013 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Credit decision / Underwriting
|
|
Web |
|
|
|
| 08/20/2013 |
Yes |
|
- Application, originator, mortgage broker
|
|
Web |
Servicemember |
|
|
| 05/10/2013 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
|
|
|
| 06/15/2012 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Settlement process and costs
|
|
Web |
|
|
|
| 05/30/2012 |
Yes |
|
- Credit decision / Underwriting
|
|
Web |
|
|
|