It's been about 20 days since we've heard from NVR Mortgage. I have to say that's pretty discouraging. I'm worried. :-S I've been constantly encouraged by our SR but how can someone not be concerned? No news is good news. Say it with me. No news is good news. Right?*** Update ***
I sent an e-mail to NVR asking for an update and some questions regarding the loan.
Don't worry it is common at your stage, I was freaking out too though until my fellow RH bloggers eased my worries. No news really is good news in this case, once you get closer to closing, they will be in touch and will ask for a ton of crap, most of which you've given them already, it will piss you off but it's really not that bad
ReplyDeleteI can handle resending documents but the silence is killer lol.
DeleteI didn't hear from NVR for nearly two months (and for no good reason, either). Don't sweat it, everything is fine I'm sure.
ReplyDeleteThank you for the encouragement!
DeleteEverything should be fine. Our stuff was sent to underwriting and our LO called us after a week to let us know we were approved. We didn't actually get an official letter stating so until over a month after that call. The letter detailed the items they'd be needed at or close to closing. Our underwriter let us know about 30-60 days out they would start requesting things.
ReplyDeleteWow, a week? we waiting over a month to go into underwriting. we waited months to hear about an approval. sigh
DeleteIf you are still stressing send them an email or call them. Or call your SR and have them check for you. But honestly they seem to call or email when they want something, just have all your financial stuff in a file waiting so if they want something you can shoot it off to them.
ReplyDeleteThank you! I took your advice and reached out to them.
DeleteNVR kind of disappears for a while. We were really concerned too, but then we found out (afterward) what was happening. There was a check, then a recheck, and another check of all of the materials including the purchase agreement, loan application, etc. Then it went to the loan processor who checked over everything again and asked for materials when needed. Then it went to some company called Creddo or Credco or something. They checked everything and rechecked. Then, the underwriter took an initial look. Then, it went back to the LO and the processor to check what they checked and they asked for more material when they needed it. Then, after all of that it went back to the underwriter to prepare for closing. In short, there are a ton of steps and no one really has any idea what step they are in until after they have completed it. Hang in there!
ReplyDeleteThank you. I knew there was a lot going on in the background but not nearly close to that!
DeleteJennifer,
ReplyDeleteWe waited six months before we were approved!! Talk about waiting!! I couldn't help but embrace patience! Every Friday we thought we would get some news but no news is good news!! There is a lot that goes on behind the scene and I believe the biggest one is finding the third party lender NVR will sell your mortgage too. It really depends on several variables in each couples case. We own our own construction company which required lots of scrutiny and the wait was horrific but we are in our home!!! As you wait use your time to declutter pack etc it's a lot of work and it will make moving a little less hectic !
We built a Rome in Maryland and we Love it!!
Ricknadase@blogspot.com
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HAPPY BUILDING AND BLOGGING!!
Thanks! I could hardly handle our 2 months. I can't imagine what you went through. Following your blog! Can't wait to see more!
DeleteI'm so nervous! We're looking to build a Rome in Maryland and are so nervous about what to do about the mortgage! Rates have gone crazy and we have heard the stories about NVR and their issues. Now we're just trying to figure out how we can negotiate on the price. I just found your blog(very informative so far! ) and would love any suggestions. Thanks!
ReplyDeleteErica
Silverimmersion@gmail.com
Keep in touch with them! They wont keep in touch with you! LOL!
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