Consumer complaint received 2024-10-25
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — Closing disclosure or other related disclosures
Company: NVR INC. (NC)

I am filing this complaint against NVR Mortgage Company ( NVR ) due to their mishandling of my mortgage closing documents and the unauthorized removal of the Mortgage Credit Certificate ( MCC ) fee, which has resulted in financial loss. Based on discussions with my lender, I understood that I had no ability to file for the MCC myself and was entirely dependent on NVR to file it on my behalf within the short window between loan approval and closing. NVR claimed the ability to issue this certificate, which was the primary reason I chose them over other lenders.

I shopped around and received competitive offers, but the MCC credit could not be issued by the closest competitor, which ultimately led me to choose NVR. I was clear with XXXX XXXX and other NVR representatives before committing with a {$20000.00} deposit that this was the primary reason they won my business. 

From XX/XX/XXXX, when I began considering mortgage lenders, until the closing date on XX/XX/XXXX, all documents I signed related to my proposed loan with NVR included the MCC fee, indicating my intent to apply for the MCC programa critical factor in my decision to choose NVR over other lenders. 

On XX/XX/XXXX, I received and signed a Closing Disclosure that included the MCC fee. I was instructed that this was the final document I would sign and that it represented the most accurate and up-to-date version of my loan terms and cash-to-close amount. Upon reviewing the documents, I noticed discrepancies amounting to thousands of dollars between the Closing Disclosure and the XXXX  Settlement Statement, which was sent separately through a different portal. Specifically, a float-lock fee was misattributed, leading to a discrepancy of approximately {$2600.00}. 

Concerned about this discrepancy, I attempted to contact my loan processor, XXXX XXXX, and loan officer, XXXX XXXX, but was unable to reach either of them. XXXX had left information on her voicemail directing me to contact XXXX XXXX, but the phone number provided was inaccurate, leading me to call a wrong number. After several attempts, I tried to deduce Anthonys email by sending variations of XXXX 's email address to NVR, hoping to reach him without getting a bounce-back from their servers. XXXX did not respond. 

I also asked questions via their " XXXX '' portal on XX/XX/XXXX and received no response from XXXX XXXX or a paralegal at the closing attorneys office. I reached out to the builder of my new home, who contacted the company 's closing attorneys on my behalf. 

Eventually, XXXX XXXX from XXXX contacted me to discuss the discrepancies. Over the phone, XXXX provided a revised cash-to-close amount that matched my expectations. I said, " Great, thanks, see you Friday, '' and proceeded to prepare for the closing. At XXXX instruction, I paid the amount that was on the original Closing Disclosure to ensure timely payment, as I was instructed to have the payment sent two days prior to closing. Given that I received the corrected information only two days before closing, and the correction was communicated over the phone without any documentation, it left me with little time to ensure everything was in order. 

At no point during these communications did we discuss removing the MCC fee, nor did I authorize its removal. I believed the issue had been resolved satisfactorily concerning the cash-to-close amount and trusted that all other aspects of the documents remained consistent with what had been previously agreed upon. 

At the closing on XX/XX/XXXX, I signed the final documents under the impression that they matched the terms we had agreed upon. Unbeknownst to me at the time, the MCC fee had been omitted from the final documents without my consent. I later confirmed that the MCC fee was still present on the XX/XX/XXXX document, which was signed after closing on XX/XX/XXXX by XXXX XXXX. 

On XX/XX/XXXX, I followed up with XXXX XXXX and XXXX XXXX about the MCC issue. On XX/XX/XXXX, XXXX acknowledged the mistake via email and by phone, involving XXXX XXXX, who then involved their compliance officer. I have been requesting updates but have not received substantive information. On XX/XX/XXXX, I asked for an update, and XXXX stated that he had self-reported the incident to the Consumer Financial Protection Bureau XXXX CFPB ). 

As of XX/XX/XXXX, when filing this complaint, I have not received any information on the next steps or a timeline for resolution. 

I trusted NVR to handle my mortgage accurately and ethically. Their mishandling of critical documents and unauthorized removal of the MCC fee have caused me significant financial harm and distress. I hope the CFPB can assist in resolving this matter promptly and ensure that NVR addresses these serious deficiencies in their processes.