Tuesday, February 19, 2013
Frustrated with NVR wouldn't even begin to describe it...
So the NVR processor was ready to send us to underwriting last Monday. But the LO had a couple things for us to sign before releasing the file. She said the first available appointment was Friday. I said I didn't want to waste another week because they were already a week behind. I even offered to drive the hour down to her office but she said we would not waste a week and it was Friday or the following week.
Why NVR thinks its a good idea to only have 1 LO per 200sq miles is absurd. Basically if you're in Cincinnati you're taken care of but if you're not...well, the proof is in the pudding. Our flooring rep is down in Cinci too and we couldn't seem to get a timely appointment (starting to see a pattern). After all the issues I had with these two, I wasn't even going to entertain Guardian's excuses. I bet their rep operates out of Cinci or Columbus. (UPDATE: Turns out he does).
Well she was right...we didn't waste a week, we are wasting two. Spoke to the LP this evening and she just got the file from the LO today but had training all day. So, maybe it makes it out tomorrow and instead of hearing something by the end of the week, it will be sometime next week (UPDATE: It wasn't, it was the week after). It's already been over 30 days...oh, and their boss will not review our file to give RH a green light for construction until a few days after it has been submitted to underwriting (so basically approved). Like many of you, we carefully planned this purchase around our existing lease, our kids school dates, our vacation time, the available time of our family members to help, etc. Absolutely UNSAT. RH some how can build an entire house in as little as 60 days (not all homes and assuming no acts of God), but their Mortgage company can't seem to process a loan in under 30 days. I've been pushing papers for a living for sometime now and I just don't understand this. Something is just not adding up.
My Recommendation: What ever NVRM incentive they are offering you...it's not worth it. My credit union has their underwriting department in the same building. There are many banks out there that are hungry for your business. Regular LOs have to hustle to make money. They don't have business handed to them on a silver platter like NVRM. Where's the Time and Attention?
I'm really concerned that if we are having this much trouble now, we may be in jeopardy going into underwriting and worse when we get to closing. I've read about all the issues others have had and I'm concerned (unfortunately I read about these issues after we decided to go with them. It seemed like it was easier to keep going then to start over. At this point I'm starting to second guess that decision). I even mentioned to the LO that I had read about issues prior to closing and asked what the primary cause was and what we could do to avoid it. I didn't get a straight answer and she tended to blame home buyers for doing stupid things. However, what I've read about was oversights by NVRM, sloppy paperwork, forgetting documents, signatures, etc. I don't want to become a statistic. This process is stressful enough. Does that crossing your fingers thing work?