Around 3 o'clock, Dean from NVR Mortgage called with another document request. The underwriter wanted to know what was the source of my earnest money. Yes. Proof of the earnest money on the 11th hour on the eve of closing. ARE YOU KIDDING ME? This dip&^%$ had over 4 whole months to ask me about this, but now his/her inefficiency is our emergency? First we had to prove that my checks were real and provide copies of the cancelled checks, Second, we had to prove that they were out of a real account, by giving you the statements documenting the activity of these checks, and now you want to see how it was deposited into my checking account? Is this for a loan or a security clearance? Sorry for interrupting your solitare game and making work for you Mr. Underwriter Guy. I'd make USAA underwrite this loan but to qualify for incentives, I'm using NVR.
NVR, you should reevaluate your underwriter anyway. Why would you even break ground on a house if the customer is even remotely questionable on any facet of the finances? Mr. Underwriter, if you're using me to prove how tough you are, pick another customer. You may not be too pleased with the results
Maybe this is a way they mess with the customers they don't like. Maybe the underwriter is related to someone at Westwood Insurance. You guys hold the money and the house. Keep this crap up and you can keep both. It's a great house, I'm sure you'll like it. I would be sad, but I'm sure USAA Mortgage and another local builder can help me get over it. Yes, I said it and you can't even fathom how serious I am about this.
In the morning, they will get the documents proving the source of the funds are mine and that is all. If they are going to pend my loan because of an over proved legitimacy of my earnest money, I'm going to walk with my earnest money and take the kids to Disney World and we're eating lobster and steak every day while we are there. I'm tired, real tired of this. If the underwriters are this bad, makes you wonder if they get any business at all. Stay tuned.
Wow, this sucks. I did try to warn you though ;-)
ReplyDeleteDon't walk away. Trust me, I know the feeling. The insanity we had to go through with them still boils my blood. I called their bullshit on a lot of it at the end and threatened to walk away if we did not close on time. (see http://daytonyorkshire.blogspot.com/2012/06/day-88-final-inspection-tomorrow-nvrm.html for a recount of my hell... still to painful to rehash)
If it makes you feel better -- every single one of your future neighbors went through the same hell with them. And RH/NVR management doesn't care, so don't even waste your time with negative reviews on their survey.
If you press a bit you might even get your PM to tell you a story about how he almost walked away from his RH because of NVRM and his wife had to talk him out of it.
Mike
Hi Mike,
DeleteYour warning was well heeded. I was kind of expecting some kind of drama and thought we had slipped under the wire when we reached closing eve at noon. Boy, was I wrong. Speaking with a couple of the neighbors, everyone had not-so-great experiences with NVR mortgage especially with the tendency to leave requirements to the last minute. I guess to have a RH, you have to go through this hell as a rite of passage.
Thanks for the words of encouragement to keep going. Really interesting about the PM. I guess no one is immune.
We are officially closed now and officially down the street! Looking forward to bumping into you sometime soon.
All the best,
John
I have the Branch Managers Contact info if you'd like it. Email me at heavenlyhighgrove@gmail.com
ReplyDeleteHang in there, otherwise I won't have a summer hang out while they are building my house. ;-)
Thanks for offering up the Branch Manager's contact info. As a matter of fact, my tirade quickly got him involved and what looked like a maybe on the day of closing became complete and ready to go on the day of closing. I'm thinking that they sped it up to get me up an out of there rather than hear me bitch at them for having to reschedule.
DeleteBest wishes for a smooth experience with NVRM. Feel free to come and hang out if you're ever in the neighborhood.
Remarkable blog! I have no words to praise, it has really allured me.
ReplyDeleteMortgage Advice poole
"If the underwriters are this bad, makes you wonder if they get any business at all. Stay tuned."
ReplyDeleteClick the following link.
http://finance.yahoo.com/q?s=NVR
Yes - I think they get business all the time.
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ReplyDelete