NVR MORTGAGE FINANCE INC

This review is a mix of bad and good. We followed the process very carefully from the beginning up until this point (6 days from closing). First the Good, our project manage Kelly was amazing. He walked us through each and every part of the process, calling us weekly with updates. He was always available for any questions and even took out input on certain things and carried them out. He was great. The sales people Alvaro and his manager Maurice were good as well. There were little things that we missed or wasn't told about but that was us not following up. But both were very responsive and answered all the questions we had. Now the bad, In dealing with NVR mortgage this is where the problem truly lies. We are six days from closing and we have received 4 Estimates for closing costs and each one was very close to each other about 4,000. We were shown this in June when we started the process and when we locked in our rate on November 28th we were shown the same exact thing 4047. I expected it to end up around 4,500 as prorating will happen. We received our final disclosure statement on !2/23 (7 days before closing) and our closing costs rose 51% to over 6128! Our loan officer was on vacation and the person who sent it to us, sent the email and put their out of office email and split. So we have no recourse. No questions to be answered. Our closing was pushed back two weeks from the 16th of December to the 30th, which cancelled my wife and I's vacation from work, because we cannot take off the beginning of the year. But dropping a $2000 additional closing costs with not so much as a warning throughout the process? It looks like these are fees that are typically associated with the HOA. NVR does all of Ryan Homes mortgages, how in the world did they not know this? I asked at every point to my loan officer I do not want any surprises in this process (even though I knew there might be little ones) but not to disclose 2000 is absolutely tragic. Be very careful in this process with them. I felt a little betrayed and misled by them as we always asks questions about the closing costs. This part has completely ruined our home buying experience and for the most part we will be switching lenders when it is financially beneficial. I am completely disappointed in the ending of this experience and will not be buying through them again.

I am currently going through the process of new construction for a home. We were offered incentives if we agreed to go through their mortgage company first named NVR ( Not Very Reliable). The loan officer called us on May 22nd and set up an appointment to meet us at our current home to start the process on May 23rd at 7pm. He arrived 30 minutes late with paperwork to sign and we already had copies ready for him regarding bank statements, pay stubs, tax returns, etc. After signing several pieces of paper, I asked him when we would get a decision about our mortgage and he said no more than 15 days. Now, I understand banks have to be extra cautious approving new loans but we did not get a decision until July 3rd. I asked him just to keep in touch with us and the only time he called me was on June 21st to state that they needed more paperwork of information we already gave him on May 23rd. Somehow, paperwork vanishes at this company. He said he would call back the next day and we would have an answer. Now, I called the very next morning to confirm what he needed faxed over and cell phone went right to voice mail stating he was going on vacation from June 22nd to July 2nd. He didn't mention the night before he was going on vacation so I had to call his manager and attempted to find out exactly what paperwork was needed for the underwriter to either approve or decline this loan. On July 6th, I received an approval letter with conditions but I knew my wife and I couldn't meet them so I called my loan officer again that day and he told me not to worry about it and it would be taken care on July 9th. That day, I called his manager again and she said that these conditions can't be changed so it was declined. I am not upset I was declined but I can't believe the lack of communication this company had regarding one of the most important transactions in a person's life. I am happy to say we have been approved from another company and everything is going forward as planned.