No News Is Good News...?

Well, Is No News Really Good News?  In my business, no news means that no action is being taken... We've been in underwriting for a week now and we just got a request for clarification on a minor item.  I'm hoping this means they are at the end of their process and this is the final item before their decision.  Hopefully they didn't just start on the file and this is the first of many clarifications... Ugh.

New Granite Choices

Our SR called to inform us they got in new granite samples to choose from and it was not too late to switch.  We were originally going with Desert Brown but they are now able to get Santa Cecilia for the same price...Score!  I'm really happy about this change and I think the kitchen is going to look beautiful with this color.

Here are a few pictures of an Avalon with Cream Cabinets and Santa Cecilia Granite.  It may be hard to tell in these pictures but these are not the Butterscotch Glaze they are a Non-Standard Hazlenut Glaze.  They have a little more depth and texture.  Our floors will not be this red, they will be more of a dark brown.

Santa Cecilia on Cream Hazlenut Glaze Cabinets

Great looking kitchen but definitely needs some contrasting color on the walls

Saving Money on Technicality

I mentioned a Mysterious Credit in an earlier post.  As it turns out, the developer where we are building our Ryan Home (it's not a RH's development) requires a faux brick chimney for even gas fireplaces.  It serves no function and is merely cosmetic.  The price of the gas fireplace was already factored into the base price of the home.  First, I didn't know the fireplace was included and the Option price we added was for the faux chimney.  Second, I didn't know that to comply with the developers design requirements we would be losing the big beautiful arched window in the family room.  We didn't get the stone fireplace because it went all the way up the wall and would eliminate the window.

The SR already knew our concern about this and was working behind the scenes to get approval from the developer to not do a full faux chimney.  They approved it and we received a credit for the chimney.  It turned out to be a $3,600 difference.  Nice! Oh, but we got hit for a $275 charge to upgrade the vanity lights in the basement.  We didn't see the point in putting expensive fixtures in a basement bathroom but apparently you don't get a choice.  It's all or nothing with the lighting package.

In light of the credit (pardon the pun) we are asking to add the laundry room cabinets. It is still unclear to me if you get the laundry sink without this option but I am fairly certain you get the sink if you add the cabinets (UPDATE: A sink and cabinet was included in our community. Not sure if it is in others.).  We originally were not going to get these because our front load washer/dryer on the stands may be too tall to fit under the cabinets.  My wife saw a home with a counter top above the W/D and wants this in her life. Yes dear...so laundry cabinets and counter tops above the W/D it is.

Ours won't be this nice but this is the idea...

In Underwriting...We Hope?

Not Yet Approved but Wishful Thinking

My wife called the LP a few days ago and they said they sent the file to underwriting.  My confidence in NVRM is absolutely shaken, so I don't know if I can trust or believe anything they say.  Based on the lack of attention to detail and time/expectations management I'm concerned about getting through this process.  I'm expecting some speed bumps.  Hopefully they don't become road blocks.  I guess we'll know something in 5-7 days (Guessing).  (UPDATE: It was 13 days...16 to get an emailed letter.)

Mysterious Credit

We were in the neighborhood and stopped by to see our SR.  There were still some questions we were waiting for clarification on.  She mentioned the possibility of a credit of some sort. She wouldn't clarify but said she was waiting on approval from her boss.  It was going to be 2 to 3 days before she would know anything.  So of course we spent some time trying to figure it out.  In the end I guess it doesn't matter, any little bit helps.  I'll post the outcome as soon as we find out.

If Your Crawling Backward Are You Still Making Progress

Called NVRM again yesterday and guess what, they missed "their own" deadline again!  Still haven't submitted our file to underwriting.  Having been a Project Manager for most of my career, this really, really, really upsets me.  Say what you are going to do, and do what you say! 

I can forgive schedule slips due to good reasons.  I cannot forgive continued schedule slips due to excuses, poor time management and incompetence.  There are a lot of competent people out there looking for work...Why does it seem like the incompetent ones get hired while the competent ones do not?

Called our SR, which is always a pleasure to work with.  The one person in this RH equation that actually has to go out and work for their business...and ultimately pick up the pieces to satisfy the customer.  She assured me we are still making progress...which brings me to the title of this blog.  They were quoting a June, July delivery when we signed our Purchase Agreement.  We were really worried about the July becoming really August.  We have to be out of our current residence by the end of July.  August is not an option.  We did our homework up front so did our Production Release at the same time we signed our Purchase Agreement.  No wasted time.  Even by doing that, they are thinking a possible mid-July closing.  If we would not have followed our instincts, we would have most definitely slid into August.

The really frustrating thing with NVRM is that we signed loan docs Mid-January, thinking that is plenty of time to process a loan and keep us on track for a July move.  There has been no speed bumps for them.  No crazy curve balls or offshore accounts...just a garden variety loan app.  What was a May, June delivery became a June, July delivery and is now possibly a July, August delivery.

As many homes as RH sells, their Corporate Office must be getting the survey data but is doing nothing about it; as evidenced by the string of Blogs.  What will it take to finally get their attention and for them to fix this problem?

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?