Wednesday, June 6, 2012

Day 88 - Final Inspection tomorrow, NVRM Hell today

Final'ish grading.  Water shutoff raised up.

There are 2 final inspections tomorrow.  Ours with the PM at 9am, and the county inspection attempt #3 at some point.

I stopped by today after work and a lot of my list was already done and the few other items were scheduled (exhaust pipe = plumbers,  lamp post = electricians, etc).   Talked to the PM and he says we are 100% good for the inspection.  The tempered glass sticker now has painters tape with an arrow pointing to the glass sticker location. Sort of an idiot light for the inspector.   So we should pass tomorrow and they will have to turn around the Certificate of Occupancy pretty quick for Friday's closing.

Goals for the final inspection are to check all the paint/drywall for any remaining touchups, understand ally the mechanicals, and understand the maintenance/care of some new items like the tile grout and the granite (seal 'em both) and the concrete driveway (probably seal that too before winter)

Landscaping and Sod is in tomorrow -- tons of photos tomorrow, I promise

Onto my NVRM issues --  thankfully I have vented a bit to my wife already, so I won't go into the  full story -- but my dissatisfaction grows every day.   Current complaints --

  1. 36 hours until closing and we still don't have official re-approval.  Keep in mind the only thing that has changed since initial approval is we SOLD our old house so our debt was decreased by almost 200k.   You would think approval in December + less debt (drastically) would = quick approval.  
  2. Nobody seems too concerned about #1, except me who has been asking approval status since March 30th (first email to processor).  The unnecessary stress this creates is inexcusable.
  3. Our cash needed at closing went up 400% over the weekend.   Several emails to NVRM last week asking for final HUD so I can order a cashiers check (bank is out of state...).  Last friday I was told "it's definitely less than $500 so don't worry, you can write a personal check" and their guess was around $300 due.   Today it ends up being $1200+ with less than 2 days notice.  Fees to have a cashier check overnighted?   $75.   My solution:  I am taking it all out in cash from ATM's and paying them in $20's.   If I could pay in pennies I would.   
  4. They have continued to change their mind about documentation, and truly don't understand simple legal concepts like contract law.   Today's argument was about a loan from my parents.  When closing on our old house we had to pay some at closing to cover tax liability for the part of the year we lived in the house.   NVRM said any money we transferred into checking for this would be an issue with the underwriters (everything is an issue with the underwriters) -- so we borrowed it from my parents for a few weeks and we will pay them back right after closing, simple right?   Only a few weeks later NVRM said they needed a gift letter from my parents saying this was not to be repaid, despite telling us to keep it off the books the first time.  --  then they decided it wasn't a gift, it was a loan because my mom wrote "short term loan" on her check.   This is where contract law comes in.  You can write anything you want on a memo line and it has no bearing on the contract (check = simple contract).  Just because you write Yankee Stadium on your season ticket check doesn't mean you own the stadium when the cash it.  NVRM couldn't understand this.  So now it was back to being a "loan".  So parents needed to sign a note saying "it's a loan, will be repaid... etc"...   Then they decided that wasn't good either, and it needs to be a promissory note, which basically says "this is a loan, will be repaid" but says Promissory Note across the top.   So this was another form and signature.    Long story, I know, but just one of the many examples of how they screw things up.  

Honestly at this point I think I would never build with RH again if forced to use NVRM as the mortgage company.  I have no complaints about my sales rep, project manager, or house (yet), but my mortgage experience has been the worst of the 5 of my life.  And I say this as somebody with excellent credit, long employment history, and nothing exceptional in our financial history.    I can't even imagine what it would be like if god forbid you had missed a payment once in your life on a gas card or something.   They would probably require DNA samples.

OK, I lied.  I had to vent a little more, but now I feel better.


  1. Ugh -- that's nuts. Hoping that it all comes together and next week the whole NVR business is behind you.

  2. I told my husband the day that we closed that I was more excited to be done with NVR than to have our house. I was so done with them. This is house #6 for us and several were done with an out-of-town mortgage company and they were less of a hassle than this (and those were in the days before much was done by email). I hope everything gets done for Friday's closing and you never have to deal with NVR again.

    1. Completely agree. If there ever is a next time (not for a very long time) I will use my own lender. The incentives don't offset the negatives.

    2. Our incentives were worth almost $50,000. I would go through hell and back to save that much!

  3. Wow! That sounds awful! I'm excited to see pictures tomorrow!

  4. Geezz I can hardly wait for my re-approval process! It will definitely be good to get this stuff behind you and start enjoying the house!

  5. Your house looks fantastic! That would be awesome if you paid in pennies :).