NVR Inc Mortgage Complaint

Conventional fixed mortgage Application, originator, mortgage broker

NVR Inc Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker Tennessee

I built a new construction home in - -, TN with the home builder NVR, INC., operating under their Tennessee - - - -. I was promised $4500.00 in closing costs which was arbitrarily reduced to $1500.00 when I did not use their affiliate mortgage company and title company. I was pressured with a week left before my closing to sign documents altering the contract reducing their contribution of closing costs by $3000.00. I did not plan for this and was forced to tap into my - retirement savings account and pay the penalties associated. I was also forced to sign other documents a week before closing related to my use of an independent lender and title company. The pressure and steering to use the affiliated companies were extremely discouraging. I thought - - were to represent the TRANSACTION between buyer and seller? How can I be forced to use a title company affiliate. I did shopping for my mortgage with several lenders and I feel confident that the rates and junk fees quoted by NVR 's affiliate did NOT represent averages for the industry.

NVR Inc customer in Tennessee
Nov 05, 2015

* Source: CFPB Complaint Database

NVR Inc response to complaint:
Closed with explanation

Consumer disputes how NVR Inc handled their complaint

Created with Highcharts 4.2.3NVR IncComplaint HistoryComplaints5/20138/20139/201310/201311/20136/20147/20148/201410/201411/20141/20155/20158/201511/201512/20155/201600.511.522.5Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3NVR IncApplication, originator, mortgage broker95.0%5.0%Closed with explanationClosed with monetary reliefSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageApplication, originator, mortgage broker2.4%74.6%8.2%5.3%1.1%6.3%1.3%0.8%ClosedClosed with explanationClosed with monetary reliefClosed with non-monetary reliefClosed with reliefClosed without reliefIn progressUntimely responseSource: Consumer Financial Protection Bureau

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