Sunday, May 25, 2014
NVR Frustration
As the closing date gets closer, my frustration with NVR is growing. I understand that getting a mortgage is a process that is very tedious compared to previous times, but dang. We were given a list of things that had to be satified prior to closing date. They kept saying it needed to be done by closing. So as closing gets closer, the rep from NVR calls asking if we have done those things. NO, we don't, and it should not be an issue, because we have been told several times it had to be done BY closing. Not before. BY CLOSING. So we have tried to time things accordingly. Now, there is a tizzy of sorts going on where they say, actually, we need this done about ten days prior to closing. Why would they wait so long to give me that detail? It is aggravating. Then the underwriter calls me to tell me what the mortgage rep has already told me and to reaffirm what she said? Apparently, these people have lost their minds. I do not need them to reaffirm anything. I understand english quite well. I spoke to the sales rep. I am getting to the point where this is more aggravating than it needs to be. The takeaway...make NVR put definitive dates on anything they need satisfied up front, so that you are not hung out to dry. If everything is not satisfied by the closing date and your rate lock "Expires", you do not get to go with the current rate. Instead they charge you thousands of dollars to continue to extend the rate lock. This is not optional apparently. Again, something that should have been said up front. Thankfully, we should be good to go to closing in a few weeks, but I have to say I am disappointed in how I was uninformed and how NVR has been acting lately...like the world is coming to an end. I hope your experience is better than mine. It was a rocky start, a smooth middle, and now we are back to rockiness again. I am just ready for this to be over. We have been told that we can not cspend certain money from certain accounts until after closing, because the bank has decided only certain money can be counted toward the house. Its all just frustrating. Im over it. Three weeks to go.
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Ouch! Our list didn't have much on it (provide an insurance policy, updated paystubs and bank statements) but I've been a touch concerned they'll come back with something else. Now I see that fear is not entirely unfounded. Thanks for sharing this info. Now I'll be certain to have everything they requested to them by this coming Friday!
ReplyDeleteJust be ready for anything! Good luck!
DeleteI have also been growing frustrated with NVR. They are in my opinion overly intrusive with my financial information. I think they are worse than the government doing back ground investigations for my security clearance. They asked me after 5 months for my "terms and conditions" for my mutual funds. There aren't any terms, other than paying my sales charge if I redeem my shares and of course getting a 1099 for tax purposes on any interest/gains. I will not hold my breath with NVR until the closing day.
ReplyDeleteYES! Thats how I feel too! I cant wait until this is over. They asked us for those same terms and conditions for our stuff too. It is just is beyond FRUSTRATING. I'm over it.
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