Consumer complaint received 2024-10-11 00:00:00
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Delays in the application process
Company: NVR INC.
State: NY

Complaint narrative:
In XX/XX/XXXX, I toured a model home at XXXX XXXX, in XXXX XXXX. I liked the home, and inquired on the price and mortgage payment estimates to see if I was qualified to purchase a new build townhome. I've never purchased, or owned a home before. 

XXXX XXXX, is my sales rep who assisted me at the time. She gave me some estimates on pricing and I went home. XXXX contacted me within a few days to let me know that if I'm interested, I need to put a deposit of {$5000.00} and sign a contract. I submitted the {$5000.00} to NVR portal, and signed the contract. 

XXXX let me know that an additional {$20000.00} was required for XXXX money. So I uploaded {$20000.00} in XX/XX/XXXX. During this time I worked with the builder 's lender to secure a mortgage. I was given an estimate for 5.625 % fixed FHA XXXX for XXXX points costing approximately $ XXXX. At that time, the builder was offering $ XXXX in incentives to use their lender. 

I spent months awaiting a pre-approval, which ultimately never came. I inquired with XXXX on what happens if I'm not approved. She assured me everything would work out, and referred me to another " preferred lender '' XXXX XXXX. I started working with movement mortgage simultaneously with NVR, as instructed by the builder XXXX XXXX. Ultimately, movement mortgage never issued a pre-approval, and stopped contacting me. 

At some point in the mortgage process in XX/XX/XXXX, NVR called me to say that I would receive a denial, but not to worry as it was a formality, and that they were working diligently to get me approved. 

I received a call in XXXX from XXXX XXXX that my incentive was being increased to $ XXXX, a document was sent requiring my signature affirming this increased incentive. I signed the increased incentive document. 

I received a conditional approval in XX/XX/XXXX, which included paying down credit card debt, and explaining activity in my accounts, which was done. 

The original scheduled closing date was XX/XX/XXXX. This was pushed back by the builder 's request due to delays with utilities. The next date was XXXX which was also pushed back by the builder for utility delays. the closing was then scheduled for XX/XX/XXXX by the title company XXXX XXXX XXXX. However, the walk-though was scheduled for XX/XX/XXXX. Closing was rescheduled for XX/XX/XXXX, which did not happen because I haven't been fully approved in underwriting, which I was told on closing day when I inquired to confirm if we were closing. 

I've been asking the builder and NVR mortgage for the next steps since closing on XX/XX/XXXX has happened. I have not received an approval from the lender NVR, and when I ask about the XXXX money, I'm referred to the builder XXXX XXXX, which is also NVR. 

I've been sending emails inquiring about the XXXX money and haven't received any money or response, or approval or denial of a mortgage. {$25000.00} which I put up in good faith to purchase, with no mortgage, no house, no guidance.

Company response to consumer: Closed with explanation