Nova Home Loans

I spoke to [redacted] and offered to send him a check forthe $575 that he requested.  I informed him that [redacted] has resigned from [redacted] and I apologized that hehad a bad experience with [redacted].I let him know that I would be responding to the Revdex.comcomplaint by...

saying that we spoke and have come to an amicable resolution. [redacted]Regional Operations Manager

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me.  I will wait until for the business to perform this action and, if it does, will consider this complaint resolved.

Regards,Ms. [redacted]   House of [redacted]

[A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me.  I will wait until for the business to perform this action and, if it does, will consider this complaint resolved.

Regards,

Spoke to Troy Howell, told him I needed to know what I need to do to qualify in the future as my credit needs work. Troy said to submit an app and he would get back to me. I submitted an app but he never got back to me. I emailed 3 times heard nothing back. I emailed Michael Delvecchio a Manager and he also did not get back to me. This place is a joke, because I do not have perfect credit they do not respond. I would of never let them run my report had I known they would be so shady.

Review: Hello Good morning, I [redacted] went online and filled out a form with Nova home loan, for a Home Loan. I later spoke with [redacted] from Nova Home Loan. He pre-qualified me for a home loan of 150,000. The loan agreement for the property I wanted to purchase came to about 126,000. The closing date, I did not received a call from the loan company or my agent. Friday afternoon, November 21, 2014 I called and spoke with [redacted], he stated I needed some documents from you, I asked what documents, He stated I need W2 for 2012 and 2013, it seems like he was grasping for something to tell me but was not being upfront. I was seating at my desk at work in [redacted] down the street from the property I wanted to purchase. He later called me after my shift was over and stated I am going to deny your loan because of the expenses for the summer you had taken. I told him I had spent money over the summer that has no correlation to spending time with my daughter in Puerto Rico. How does my vacation from the summer affect my loan now? I then let the weekend pass and I was uncomfortable and did not spend time with my family on thanksgiving or get out of bed, because this was not supposed to be how the thanksgiving weekend was supposed to be. I waited and called back on Monday afternoon after work and spoke with [redacted], who stated something similar, but she can ask [redacted] or [redacted] if they can reprocess my loan application and get me a loan this time, which seems odd and I am not wanting to spend more money that I do not have just to get a house from the company that had just screwed me out of about 2 grand, with no house and no explanation on what just had happened. I am distraught and I am outrage and nothing they said made sense, or when I am to get the money back that I have poured into this process. I was supposed to be protected as a veteran, instead I was just another sorry out of luck, and no way to get the money back before Christmas.

The day after the loan closing date, on November, 21, 2014 the Owner of the company in Scottsdale, [redacted], called and stated that he is denying the loan. I then proceeded by asking what I had done wrong and what I can do to improve for future buying experience. I then waited for the weekend to pass and I called and spoke to [redacted] who stated that I was missing documents that I had not sent. I started the loan process with [redacted] and he left for emergency issues and [redacted] picked up the process. She was not given any of the required materials, because she had asked me for the same documents, to which I faxed and sent to her several times. The loan company did not keep in any contact to with my agent in regards to if my loan was in jeopardy prior to the loan closing date.Desired Settlement: I have saved up for 2 years, taken care of my bills and tried to start over in Phoenix Arizona after filling for divorce and going through financial hardship.

I paid for an appraisal and I paid for an inspection fee, I also paid for an earnest deposit / title/escrow and I have not received any payments back. I am a single mother and it is the holidays, what I had saved up went into the purchasing the home. My credit score was affected and I have to wait couple more months just to try and purchase a home. When I contacted the Loan Company they told me to get a hold of my agent, when I contact the title company they told me to get a hold of my agent. I would like to know why my loan was denied and what I can do to purchase a home if I was already approving with a VA home loan certificate.

Ms. [redacted]

Business

Response:

From: [redacted] Sent: Monday, December 22, 2014 3:23 PMTo: [redacted]Subject: RE: Revdex.com Complaint [redacted] applied for a VA home loan. Our file started in September and was under contract to purchase the home on 10/13.Everything we have in our file indicates that Ms. [redacted] is divorced and she has 3 childern.Below are parts of an email from the Loan Officer explaining the child care situation: [redacted] did pay for the Appraisal but we never collected any money for the Inspection. The reason for the denial was because she had told me from the start that she was not paying anything for the kids and there is nothing in the divorce paperwork stating who pays for the kids. She stated to me that the kids would be living with the father for the next 3 years and she was not paying anything to the ex-husband. Then it came out that she was sending money to the ex via bank transfers and because of this her residual income did not work. She would then again tell me and [redacted] that she did not pay for the kids but I have email that I will send you stating that she is trying to buy a house for her and her girls. Email from Ms. [redacted] to [redacted] on 12/07:[redacted], I wrote a thousand dollar check, to you for tittle and escrow to a property I was supposed to have moved into before thanksgiving. The loan company contacted my agent and then me, the day after the closing date, to say that they are denying the loan, after they had pre approved me for 150,000. Today I dont have the property and I have not heard from anyone about when the check is being returned to me, or if any of the money I have put down for the property is coming back to me. I spent over 2 grand to move into the house. Appraisal fees, inspection fees, title and escrow fees. I believe if I write a check to you for a service and the service was not provided, then I deserve a refund back, you charge for the process, then take out your service fee, and return to me the difference. I worked hard to provide for my daughters, and to be taken advantage like that and for you to just say, talk to your agent. You were the one who called me asking for the tittle deposit of one thousands dollars and now you and the loan agency are giving me the run around. I am using a VA certificate, I am a veteran, I was supposed to be protected, it is the holidays and I have to be held accountable for getting a roof over my girls head, and provide for my family. I contacted you as soon as I could and so far nothing as to the deposit money, you quickly had your carrier pick up from me at work. You contacted me to get the money from me and the service was not provided so now I would like for you to return my check to me so that my daughrers and I can attempt to have a good Christmas without the likes of people like you, who doesn't seem to care about who gets screwed in the process. I have been patient and kindly waiting but no phone call as to when I will get my deposit back. I will continue to contact and reach out to whomever is listening to get this resolved. Nova home loans dropped the ball, and didn't communicate well enough as to what they needed and the tittle company misplaced my deposit money, now im out of a house for the holidays and out of 2 thousand dollars. The seller contact me to see if I want to rent the house for 800 dollars, a month, the house I was supposed to be living in by now. Sincerely, Ms. [redacted] Israel ###-###-#### cell [redacted] With a VA loan we need to meet the guidelines for residual income. Child care expenses are one of the items that goes into the calculation for residual income. Once we factored in the amount that was being paid to the ex-husband our borrower no longer met the residual income threshold. Below is an email from 12/1 from the Loan Officer to Ms. [redacted] explaining why we couldn’t approve her loan: Email from 12/1I received your email over the weekend and again wanted to explain why your loan was not approved at this time with Nova Home loans. I had called you on 11/17 explaining what we would need to get this VA Loan approved for you. The one big issue that was never explained was the child care issue that was address on 11/17 ,11/20 and 11/21 each time you said you did not pay for child care and the children did not live with you but lived with their father in Mississippi. On 10/31 you stated that you had joint custody and did not pay for any child support. Because the divorce decree did not state that we asked you to please have your ex-husband write a letter and you write a letter explaining that no one is paying for child care at this time..(We never received both letters) You stated on 11/20 that your ex-husband would not write the letter (which we needed to get the loan done) You stated on 11/21 that your kids do not live with you so you don't pay for child care but you did claim one of the 3 kids on our tax returns for 2012 and 2013 which you say you don't pay for, so because you have it on your tax returns and you stated on 11/21 that you transferred money from your [redacted] account to your ex-husband [redacted] account for your daughter we have to count that child in your residual income calculation. I'm sorry but that is a child expense and has to be counted for. When everything was finally put together we could not approve you at this time because you did not meet the residual income needed for 2 people for a VA loan. I hope the helps explain why we could not approve your loan. Sincerely [redacted]. [redacted] Our borrower has a previous bankruptcy and limited credit after the BK. We could not get an automated UW approval and were going to have the file manually underwritten so that we could override the AUS. Unfortunately once we learned of the child care expenses there was nothing we could do about not meeting the residual income. Our Underwriter was willing to overlook the money that Ms.. [redacted] was sending to her ex-husband if both parties would write a Letter of Explanation. Ms. [redacted] indicated that her ex would not be willing to help her by writing such a letter. Email from November 20th form Ms. [redacted] to the Loan Officer and Processor:I am a member of the Louisiana National Guard. My daughters do not live with me in AZ. I spoke with [redacted] last night and I informed him I had spent about 1500 this year for travel expenses. I am not able to get a letter from my ex- he does not care to write anything on his phone or email and email to me. As far as the fees are concerned we do not collect for the inspections. We ordered and received an appraisal and that is the borrower’s responsibility to pay. I cannot speak to the refund of the earnest deposit. That is between the two Realtors and the title company. It appears that we did what we could to try to approve this loan. We manually underwrote it, tried to find a way around the child care payments etc. At the end of the day the information that was provided at initial application was different as we worked through the approval process and we were not able to approve the loan. [redacted]Regional Operations Manager###-###-#### office###-###-#### mobile###-###-#### fax[redacted] #[redacted]BK #[redacted] From: [redacted] Sent: Monday, December 22, 2014 1:17 PMTo: [redacted]Subject: Revdex.com Complaint The details of this matter are as follows:Complaint Involves:Contract DisputesCustomer’s Statement of the Problem:Hello Good morning, I [redacted] went online and filled out a form with Nova home loan, for a Home Loan. I later spoke with [redacted] from Nova Home Loan. He pre­qualified me for a home loan of 150,000. The loan agreement for the property I wanted to purchase came to about 126,000. The closing date, I did not received a call from the loan company or my agent.. Friday afternoon, November 21, 2014 I called and spoke with [redacted], he stated I needed some documents from you, I asked what documents, He stated I need W2 for 2012 and 2013, it seems like he was grasping for something to tell me but was not being upfront. I was seating at my desk at work in [redacted] down the street from the property I wanted to purchase. He later called me after my shift was over and stated I am going to deny your loan because of the expenses for the summer you had taken. I told him I had spent money over the summer that has no correlation to spending time with my daughter in Puerto Rico. How does my vacation from the summer affect my loan now? I then let the weekend pass and I was uncomfortable and did not spend time with my family on thanksgiving or get out of bed, because this was not supposed to be how the thanksgiving weekend was supposed to be. I waited and called back on Monday afternoon after work and spoke with [redacted], who stated something similar, but she can ask [redacted] or [redacted] if they can reprocess my loan application and get me a loan this time, which seems odd and I am not wanting to spend more money that I do not have just to get a house from the company that had just screwed me out of about 2 grand, with no house and no explanation on what just had happened. I am distraught and I am outrage and nothing they said madesense, or when I am to get the money back that I have poured into this process. I was supposed to be protected as a veteran, instead I was just another sorry out of luck, and no way to get the money back before Christmas. The day after the loan closing date, on November, 21, 2014 the Owner of the company in Scottsdale, [redacted], called and stated that he is denying the loan. I then proceeded by asking what I had done wrong and what I can do to improve for future buying experience. I then waited for the weekend to pass and I called and spoke to [redacted] who stated that I was missing documents that I had not sent. I started the loan process with [redacted] and he left for emergency issues and [redacted] picked up the process. She was not given any of the required materials, because she had asked me for the same documents, to which I faxed and sent to her several times. The loan company did not keep in any contact to with my agent in regards to if my loan was in jeopardy prior to the loan closing date.Complaint Background:Product/Service: home loanPurchase Date: 11/20/2014Problem Occurred: 11/21/2014Model: nova home loanAccount Number:Order Number:Talked to Company: 11/24/2014Talked to Company (2nd): 11/22/2014Talked to Company (3rd): 12/6/2014Name of Salesperson:[redacted]Purchase Price: $124000.00Disputed Amount: $1600..00Desired Settlement:I have saved up for 2 years, taken care of my bills and tried to start over in Phoenix Arizona after filling for divorce and going through financial hardship. I paid for an appraisal and I paid for an inspection fee, I also paid for an earnest deposit / title/escrow and I have not received any payments back. I am a single mother and it is the holidays, what I had saved up went into the purchasing the home. My credit score was affected and I have to wait couple more months just to try and purchase a home. When I contacted the Loan Company they told me to get a hold of my agent, when I contact the title company they told me to get a hold of my agent. I would like to know why my loan was denied and what I can do to purchase a home if I was already approving with a VA home loan certificate. Ms. [redacted]Nova Home Loans[redacted]

[redacted]P. ###-###-####F. ###-###-####[redacted]Description: template CONFIDENTIALITY AND PRIVILEGE NOTICE This e-mail from Nova Financial & Investment Corporation contains confidential information intended only for the addressee(s). Information in or attached to it may be privileged, confidential or protected by law. If you are not the addressee (or a person responsible for delivering this transmission to the addressee) you are strictly prohibited from reading, copying, disseminating or distributing it. If you have received this e-mail in error please notify the sender by replying to this message or calling ###-###-####; then delete it and any attachments from your system, and destroy any print outs you may have made. Thank you. If you have a need to contact us, please visit our website at www.novahomeloans.com.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me. I will wait until for the business to perform this action and, if it does, will consider this complaint resolved.

Regards,

Ms. [redacted]

House of [redacted]

Hello,

My name is [redacted]. I do not know what you all can do at this time, but I want to complain. We found a house to purchase. First they told us that my husband qualified and had the loan. Then two weeks out from closing they tell us that because of the house in North Las Vegas Frank could not get the loan. They knew about this house from the very beginning of this whole process. So then they decided to go with me. I gave them all the information and they wanted. Also, they had me write out my employment history to cover 24 months of employment, because I did not work the year of 2014. So I gave them about 31 one months of employment history. Then they stated that I had to find a permanent position on a job. To make a long story short they stated that they would except a letter of intent from the job to verify that I had a permanent position and then I had to actually start work on the job. So I have done that. Now, three days from closing, closing date 11-16-2015, their Senior Officer tells me that the underwriter still has a problem with my employment history and cannot find a comfort zone. So they are declining my loan. We were to close 11-16-2015. Because this house was a short sale we cannot find a lender in time to help us get this house. Senior Officer did state that he was going to work on reimbursing our money, however that is not the point. The point is here it is 3 days from closing and now they tell me that the underwriter is not finding a comfort zone.

Review: [redacted] lied to me several times about items I needed to close my loan. I have a recorded phone conversation where he admitted to times that he provided me false information, Which cause me to loose the home I had under contract and forfeit my $375.00 home inspection fee.This was a [redacted], which the guidelines are the same from all lenders who offer this product.I just closed on another home and found out [redacted] lied to me several times.

I would like a refund of my $375.00 home inspection feeDesired Settlement: Refund of $375.00 For inspections & $200 of missed time at work due to false information

Business

Response:

I spoke to [redacted] and offered to send him a check forthe $575 that he requested. I informed him that [redacted] has resigned from [redacted] and I apologized that hehad a bad experience with [redacted].I let him know that I would be responding to the Revdex.comcomplaint by saying that we spoke and have come to an amicable resolution. [redacted]Regional Operations Manager

Review: When my husband and I first started working with Nova Home Loans, we were told that we would need to have our credit report ran once in the beginning and then once at closing. They ran our credit 8 times!! these were hard hit inquiries and lowered our credit scores significantly, making it so that we were declined by the loan underwriters. We had been pre-approved for up to $200k and found a home for only $149,900. Everything went good until they told us that our credit scores had dropped due to multiple credit inquires (all were Nova Home Loan and their subsidiaries) so we were no longer qualified. We had already paid $1500 to the Title Company (which we will get back), $425 for the appraisal, $355 for the home inspection, and $48 for the termite inspection. We will not be able to get the $828 back from Nova Home Loans, even though it was not our fault. We never agreed to letting them run our credit multiple times like that. What they did is unfair and not good business practice. I don't believe that a company should be able to run your credit whenever they feel like it without consent. Sometimes the credit was ran again just the very next day! My credit score alone fell from 618 to 580. It will take another year of renting a home in order to build my score back up and recover from their errors. Our lease is up so instead of moving into our own home we now have to find a new rental home, get approved, and incur costs such as first month, last month, security deposit, and application fee.Desired Settlement: I would like to be reimbursed the $828 that I had to spend on this home that was my family's dream.

Business

Response:

Hello [redacted]After digging into the root of what transpired with [redacted], attached are the emails from our Credit Services Department and Branch Manager-[redacted] (Chandler Branch) also from our Operations Manager [redacted]. [redacted] tried on several occasions to contact [redacted] with no response. Please let me know what happens from here?Thank you,[redacted]Nova Home Loans[redacted]P. ###-###-####F. ###-###-####[redacted]---------- Forwarded message ----------From: [redacted] <[redacted].[redacted]>To: [redacted] <[redacted].*@[redacted]>Cc: Date: Fri, 14 Nov 2014 15:30:49 -0600Subject: [redacted] response for Revdex.com

Nova provided competetive rates. In addition they kept me updated at all times on my loan process, called me when they said they would and responded same day to all voice mails and emails. What a wonderful experience.

I had applied and was approved for a loan and submitted all required paperwork underwriting approved for 150k (Phoenix Office, Camelback) Couple weeks later when a property was located and offer made, [redacted] the loan Officer and [redacted] stated the loan approval was reduced to 90K, after I dropped [redacted]s recommended real estate broker. I am very disappointed in the process with [redacted] and would not reccomend this company. I pulled the the loan application and went elsewhere.

Review: I have asked on repeated occasions for this company to remove me from their mailing list. I used the opt out feature on the email to remove myself and I'm still getting monthly emails from them. I attempted to call the company on two occasions. The first time I was hung up on and the second I was transferred to voice mail. This is bordering on harassment and I don't understand how clear I need to make it for them to stop contacting me.Desired Settlement: I simply want to not be contacted by them

Business

Response:

We have made sure that the client will NO longer receive emails, phone calls or any other communication from [redacted] going forward.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me. I will wait until for the business to perform this action and, if it does, will consider this complaint resolved.

Regards,