Novad Management Consulting, LLCReverse-mortgage servicing

1 Review updated:

Novad Management Consulting, LLC (NOVAD) is HUD's servicer for my mother's reverse-mortgage. NOVAD sent me a foreclosure notice in August 2015 then refused to give me a payoff balance for my mother's home where I grew up so that we can keep it in the family. NOVAD's refusal to let us pay off the loan violated the Real Estate Settlement Procedures Act (RESPA). Then, in summer 2016, NOVAD sent people to trespass on our property while were home and leave door hangers to harass us in the hope they could drive us out of the property, even though we had notified NOVAD they were supposed to contact our attorney. NOVAD sending people to contact us personally violated the Fair Debt Collection Practices Act. We have filed a complaint with the Consumer Financial Protection Bureau (CFPB) which has also forwarded the complaint to the Federal Trade Commission.

Because NOVAD is a mortgage servicer, they are regulated by the CFPB.See the Top 10 Worst Complaints in Oklahoma City, OK You can make a complaint about NOVAD on the CFPB web site, at The CFPB will take your complaint and send a notice to NOVAD asking them to register with the CFPB and answer your complaint. If NOVAD refuses to answer the CFPB regarding your complaint, the CFPB has congressional authority to investigate NOVAD and to fine NOVAD hundreds of thousands, and even millions, of dollars.

The more complaints the CFPB gets, the more forcefully they will move to take action against NOVAD. If you want to stop NOVAD from getting away with being a serial violator of Dodd-Frank and other consumer laws, and you want a personal response to your complaint, then you need to complain to the CFPB at

If you want to more about how NOVAD treats their customers, see the Better Business Bureau reviews at

Feb 22, 2017

More Novad Management Consulting, LLC Complaints & Reviews

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  • Ro
      Aug 21, 2017

    May 7, 2017

    To: NOVAD Management Consulting LLC
    Att: Mortgage Servicing Department
    2401 NW 23rd Street Suite 1A1
    Oklahoma City, Ok 73107
    Customer; [protected]
    Fax [protected] – TTY/TDD [protected]

    From : Roy Owens
    2 Otisfield Street
    Dorchester M, 20121
    New NOVAD mtg Account [protected]
    Old Champion mtg Account: 1035097
    Re: Stop Monthly Service Charge

    To whom it may concern;
    I have Called and sent letter to the Mortgage companies and ask them to stop sending and billing me for monthly statement I don’t need. Therefore I am sending you this letter stating I wish for the monthly fees to stop. Stop sending me Monthly statements. I only need the residential Statement and the end of the years statement. I would like for all of my money take from me under false pretext to be return. I have spoken with Mortgage companies in the pass concerning over billing. They promised to stop billing me for excessive fees I don’t need, and instead the more I complained they the just sends the mortgage to a different company. This is the forth transfer. I will be sending a copy of this letter also to the Attorney General of Massachusetts further action. I sent a letters to Champion and nothing has ever change. I am sure you have received the letters and are refusing to stop billing me for extra fees I don’t need. I also had my insurance broker to send you a letter and nothing has change.
    The set aside money is not correct, and current line of credit loan balance is not correct I have never borrow any money from any of the mortgage companies, and therefore, there should be and increase of set aside not a decrease.
    I also notice you just like the other mortgage companies every time you transfer mortgage from one company to another you alter the contracts in fine print and yet, you always write a separate letter telling me there is no change to the contract.

    _Roy Owens________
    Roy Owens

    -1 Votes
  • Be
      Nov 09, 2017

    I have had the same experience as the initial posted complaint reports while trying to settle my fathers estate. They stonewall any and all efforts to resolve the reverse mortgage payoff. Their customer service makes it impossible to file a complaint with management. They are unresponsive, rude, and unwilling participants in fraud.

    +1 Votes
  • Kr
      May 13, 2018

    @Beth Erenberger What ended up happening in your situation ? Did you have to get lawyers involved?

    0 Votes
  • Kr
      May 13, 2018

    What ended up happening after all ? Did they let you pay off the reverse mortgage or how did your lawyers go about dealing with NOVAD ?

    -1 Votes
  • Wg
      Jun 29, 2018

    If your loan is a reverse mortgage, NOVAD is required to accept 95% of the appraised value as a payoff of the loan. NOVAD repeatedly refused to carry out an appraisal on my late-mother's property.

    NOVAD is doing this to many other people. See the link to the Better Business Bureau for NOVAD: NOVAD works for HUD, and if any private bank refused to provide payoff balances as required by law, they would be fined millions of dollars by the CFPB. It is my understanding that HUD contacted the CFPB and asked them not to enforce the RESPA and TILA rules on NOVAD.

    Sign the petitions about NOVAD to the new CFPB Director Mick Mulvaney:

    "": or at

    "Care2 Petitions":

    -1 Votes
  • Ta
      Dec 04, 2018

    My grandparents home was just sold this year. The original loan was procurrrd under false pretenses; our home was trust estate and in order for our property to qualify... all beneficiaries would have to be qualifying borrowers. I’m 42 in a couple days. Which means the home did not qualify. I’m looking to build enough information to out a stop to these foreclosures. It’s the biggest scam ever and HUD is 100% apart of it... coming in and offering grants to bring homes up to code.. so when they foreclose. There’s no issues. Anyone with a situation like mine please feel free to contact me. [protected] Let’s stop the takeover!!

    +2 Votes
  • Ka
      Jun 10, 2019

    @Tangie0676 I am with you on this. Your email is blocked, but please contact me:
    Katreece Stone [protected]

    +2 Votes
  • Sl
      Apr 03, 2019

    This is the most UNRESPONSIVE company with RUDE customer service agents! I called about a week (and held the line for at least an hour each time) before I finally was able to get an agent on the phone. My question: Will you please explain the statement to me since I do not understand it (all of the numbers and corresponding terminology on the reverse mortgage monthly statement are very confusing and unclear). Not only would the agent not explain the numbers/terminology on my statement, he also would not even discuss the general meanings of terms such as "principal limit information"! It is shameful that a company would want to take advantage of someone who is elderly and trying to make ends meet in the latter years of his life.

    +2 Votes
  • Jo
      Aug 11, 2019

    I just turned 80 and I am really worried about having my reverse Mortgage with Nova there are no good reviews here if I could change company's I would don't want my POA to go thru more grief when I pass . Joyce Sims Aug. 11 2019

    0 Votes
  • Ra
      Oct 08, 2019

    We have been trying to get NOVAD to respond to us for several weeks. We need description of the property which is included in our reverse mortgage, because not all of our property was included. We cannot get a response by mail, telephone or email, and do not know what to do.

    0 Votes

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