Mortgage -- Closing on a mortgage -- Complaint #5619802
Complaint Overview
Complaint ID: 5619802
Company: Nvr INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Closing on a mortgage
State: Virginia
ZIP Code: 22407
Date Received: 2022-05-31T12:00:00-05:00
Date Sent to Company: 2022-06-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On Monday, XX/XX/XXXX, I purchase a new built home from XXXX XXXX and NVR Mortgage at XXXX XXXX XXXX XXXX XXXX, XXXX XXXXXXXX. XXXX XXXX and NVR Mortgage have engaged in predatory lending practice by selling me a home that was originally appraised for {$520000.00} from one of their contractor 's companies, XXXX XXXX XXXX XXXX, XXXX, XXXX XXXX XXXX XXXX, XXXX XXXX XXXX by XXXX XXXX XXXX. On Monday, XX/XX/XXXX. XXXX XXXX conducted another appraisal for {$570000.00}. Lastly, on Friday, XX/XX/XXXX, XXXX XXXX sent XXXX XXXX and NVR Mortgage a final appraisal for {$580000.00} for which I paid {$580000.00} for the purchase of this house and NVR approved it. There was a {$59000.00} difference from the first appraisal and the last one XXXX XXXX and NVR Mortgage charged and approved me for the purchase of my house. This is a clear example of predatory lending. XXXX XXXX did not provide any justification as to why 3 appraisals all have inconsistent data and price increases less than 3 months. XXXX XXXX manipulated this data as it pertains to the appraisal of the sellers XXXX XXXX and NVR Mortgage benefits and profit.
Frequently Asked Questions
What is Complaint #5619802 about?
Complaint #5619802 was filed against Nvr INC. regarding Mortgage specifically about Closing on a mortgage. It was received by the CFPB on 2022-05-31T12:00:00-05:00.
How did Nvr INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Nvr INC.?
Yes, visit the Nvr INC. company profile at readthecomplaint.com/company/nvr-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.