As other Ryan Home bloggers, buyers and owners know, you have to wait until drywall goes up before you can lock in on your interest rate. Well, drywall went up on Saturday, June 30th. I sent an e-mail to the NVR loan processor on Sunday night requesting a preliminary HUD1 (estimate) for each of the different loan scenarios, so we can choose one and lock our rate A.S.A.P. The processor said that she forwarded it to our loan officer. I sent the e-mail to the processor, because she has been much more responsive than our loan officer.
Estimates only take a few minutes to draw up. Everything is automated. It is a matter of punching in a few numbers on the computer.
Our loan officer e-mailed us at 10:30pm on Monday night stating that he was in the field all day and did not have a chance to put the estimates together. He said that he would put the estimates together the following day (Tuesday). Well, I never heard from him on Tuesday, so I sent him another e-mail on Tuesday. He never responded. Does this surprise me? No, I've been dealing with this type of service from my NVR loan officer from the beginning. Is it acceptable? No.
If this was the first problem that I had with non-responsiveness from NVR, then it would not be as big of a deal. We started off on a bad note with NVR Mortgage. I escalated things up to the division manager. We were given a list of excuses for the non-responsiveness... from personal problems (completely understandable, but someone needs to fill in) to being a really busy time. I think the only reason that we have not had any problems with our loan officer lately, is because we have not tried to contact him.
NVR Mortgage employees should really remove the following highlighted line from their e-mail signatures:
Thank you for your business! Please remember to complete your mortgage satisfaction survey.
NVR Mortgage states the following on their website. I say, "Yeah right!" to the statements in red:
- Starting with your contract signing and initial application, NVR Mortgage works hand in hand with your builder to ensure you are satisfied each step of the way. Many of our competitors are not familiar with our policies and procedures regarding application and approval requirements which signal the start of your construction, lock-in confirmation, exterior escrow items, closing requirements and many of the fees associated exclusively with new home construction.
- NVR Mortgage attempts to stay informed on every change you experience during the construction of your home. Every change order to your sales price triggers a resulting change in your loan and we continuously update your loan to help maintain the status of your loan approval. We understand that nothing can be more frustrating than waiting through your entire build cycle only to learn that you will not be closing on your home on time or worse, not at all.
- You can be assured that when you make application with NVR Mortgage, we will be there until the day you receive the keys to your new house.