Consumer complaint received 2024-10-21
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — Delays with the closing process
Company: NAVY FEDERAL CREDIT UNION (NC)

We began our Loan Application process with Navy Federal in XXXX of this year ( XXXX  ). It initially started off smooth and things were going according to schedule until we reached the month of closing ( XX/XX/2024 ). During the month of closing we would touch base with the New Construction Mortgage Processor, XXXX XXXX and ask if there were any items outstanding or anything she needed. Our closing was initially scheduled for XX/XX/2XXXX at noon EST. That Monday,XXXX, we began asking if we had the clear to close. We followed up on that inquiry on Tuesday, XX/XX/2024 and XXXX advised that we were clear to close and should receive our CD and documents that evening or at the latest Wednesday morning. On Wednesday, XX/XX/2024 when we didn't receive the documents, we followed up with her to ask for the status. Later Wednesday afternoon she responded and advised that we had one new outstanding item ; a FEMA disaster inspection. FEMA amended their declaration, DR-4827 to include XXXX XXXX which is where the property is located. FEMA made this declaration amendment on XX/XX/2024. We were told not to worry, that a request was entered to do this inspection and it should be completed by XX/XX/2024. At this point, we notified our realtor. Our realtor called the Mortgage processor and had a conversation where XXXX confirmed again that this is a quick inspection, nothing to be concerned about, and that we will have the results of that inspection no later than the morning of closing, XX/XX/2024. The morning of closing came and we began touching base with the team at Navy Federal to determine if the results were received. They advised that they didn't have the report back. We asked if this had been escalated and were told that its not an escalation as the company had until the end of the day. This is much different then what we were previously told. So we asked if we could submit our third-party home inspection which was completed after the Hurricane/ tropical storm that proved no damage was done to the property and that the structure is stable and sound that was declined. Once we missed our closing scheduled at noon, the builder offered a new slot XX/XX/2024 at XXXX. This was then escalated to XXXX supervisors XXXX and XXXX to discuss alternatives. We were then told that this is Navy Federals process. We began researching and the only home loans that require a FEMA disaster inspection are FHA loans. So that was mentioned and we were told they couldn't accept our inspection from the third-party that formally completed that, nor could they make an exception and amend their internal process to ensure that we made it to the closing table. XXXX manager, XXXX, confirmed that she had just escalated this to their third-party vendor management team ( underwriting appraisal team ) that afternoon. It was expressed how that is unacceptable as this should've been escalated the days prior when they were notified as our closing was in 48 hours from the time they stated they got the FEMA notification. XXXX expressed that they have no direct way of communicating with their third party company and will hope that we have the inspection after the weekend. We are now 3 hours from our 3rd scheduled closing ( XX/XX/2024 at XXXX EST ) we still have no inspection report from their third-party, Navy Federal has no sense of urgency, empathy, or accountability, and the wire must be sent out in 1 hour in order for us to make it to closing soon. Please help us. We can not afford to loose our earnest nor all of the funds spent orchestrating this move. This has caused extreme stress and no one seems to care. Also our builder may began charging us for each closing day we've missed.