NACATo NACA or Not To NACA

A
This review was posted by
a verified customer
Verified customer
Review updated:

3-31-16
Applicant *3102

I purchased a home through the NACA home purchase program!
I had to lead off with that statement to remind myself there was actually a benefit to being subjected to the litigation-type maze of red tape I just experienced.

This whole ordeal has tested and challenged the parameters of my ability to remain calm in the midst of a firestorm of discombobulated methods. Now I better understand the negative and sometimes bitter surveys from those who warn the reader to stay away. In my reading I picked up on the fact that (forum.naca) labels those who complain about NACA as being only 1/100th of the total people they help. This comment truly depicts how an applicant can be treated- about 1/100th worth of NACA’s time.

Although the NACA mantra is that anyone can get a loan, the methods used by NACA and the bank to review and scrutinize the details of financial information goes way beyond the expected excessive scrutiny of buying a house. If it were only for verification sake as claimed, the delays would be more palatable. But their matter-of-fact, repetitive demands defy logic and wrangle the hope of the finish line right out of the heart of the applicant.
My position became- either do or don’t approve the loan but please stop torturing me with monotonous re-inquiry of the same facts, data, balances, receipts, etc. This excludes the weekly/monthly routine of scanned docs. I was prepared for that. But some of the demands and can/can’t-do’s danced on the boundaries of misuse of power from the bank/NACA reviewers & representatives (sorry MC, although you were stellar). It became clear that any demand you do not or cannot fulfill automatically jeopardizes final approval.
Also in my reading it was noted how NACA clearly defines its stringent methods as a deterrent and resolution to avoid the housing bubble fiasco from just a few years ago. I would say I agree in part. But there is much of the method that only serves to hide behind the monster. The housing bubble was not created by lack of documentation of repair nor will it be thwarted by over-documentation required to get my carpet installed!

I very much wanted to list the barrage of artifacts from the 500-page binder of scanned docs but I’ll summarize:
Part A: Up to the point of Qualification status, the laborious process had been an eye-opener and fully worth it. I advised people about it left and right. Trying to reel them in. Wrote letters to State Representatives.
Part B: The bottom falls out. I mean, then you get to glory that you’re qualified.
Continued stipulations, requirements, demands, plus shades of abuse of power (your approval is in their fingertips), inefficiency, delays, etc. Apparently only the applicant is scrutinized to keep their word on anything (and copy it in quadruplets).
By this time, even the administrators at my job were questioning my decision, commenting “why in the world would you do this to yourself?”
Part C: Weighing the costs of invested funds, promises to realtors, addendums, used flex and vacation time to address (demands), extensions in lease, extra funds for storage, then – a notice.
A last minute hiatus to travelling mercies. A mandate to immediately re-instate the requirement to close in Cleveland. Meaning- now I have to travel 500 freaking miles RT to a closing. Same day I have to be out of the leased home – of which I already had to request 2 extensions – and same day I have to negotiate how and what to do with my homeless storage containers of all my home furnishings. Eight to nine hours on the road, only to face 3 hrs of day light left to move something.
Part D & E: Hand it over.
The HAND dept wasted 3 weeks with minimal to no activity just to get 3 simple contract bids entered and reviewed. Then (after 3 -4 emails, several calls and messages on my part and the contractors part) I received a call from Hand in mid-MAR notifying me that all of quotes are not in. No kidding – that’s exactly what I had been trying to get them to assist with the previous 3 weeks.
Even more injurious is further delay was caused by reviewers acting as though minor electrical repairs identified in the home inspection would cause imminent danger on the property and demanded I not take possession of the property until all repairs are completed. Did they even read the inspection?
Since I’m already pushed out on a limb, I’m going to add the HAND dept round 2: getting the repairs done. I called (to distract myself from the other shenanigans on the close date) to get a jump start on how I can speed the process of getting my carpet ordered and installed. I was told the contractors have to issue a draw form and a request to blah, blah, blah, then do blah, blah. Really?! To get carpet installed! I dread the thought of working with them after close. Follow up 4-21: It’s as bad as anyone anticipated. I just want to crawl up in the corner and never hear the word HAND again.

Do I sound a little exasperated? Well, congratulations! This angst is all NACA-produced. The total exasperation is all HAND-produced. This is their baby. In fact, I could have given birth in my 50’s with less complications and I don’t even have a uterus. They have succeeded in turning an otherwise congratulatory occasion with an optimistic person into a bundle of aggravation and reproach.
And now I have to volunteer to tell the world about NACA?! Hell yeah I will.
Let’s start with updating those two NACA recommendation letters to my State of Ohio Representatives.

Responses

  • Na
    NACA Jun 03, 2016
    This comment was posted by
    a verified customer
    Verified customer

    We would like to look into your concerns. Please contact me at the email address below with yoru name and NACA ID number.

    Tim Trumble
    Online Operations, NACA
    [email protected]

    2 Votes
  • Na
    NACA-Stressful Experience Mar 27, 2018
    This comment was posted by
    a verified customer
    Verified customer

    Atlanta, GA
    NACA Customer

    Your comments resonated with me. I used NACA in 2006 and the process was not as convoluted. I understand that it is important to screen customers to ensure that they are good candidates for a mortgage, but customers should not be subjected to emotional abuse and trauma, simply because NACA has established a flawed system that is deliberately designed for most people fail. There is absolutely no question in my mind that the majority of NACA applicants start the process hopefully and walk away disillusioned, physically, mentally and emotionally exhausted without completing the process.
    I attended a workshop on June 10, 2017, but NACA misplaced my paperwork. After not hearing from NACA for several months, I ventured into the office in December, 2017 to schedule a meeting. My meeting was scheduled for January, 2018. Of course, due to this delay interest rates rose from 3.125 to 4.25. This means nothing to folks at NACA, but everything to a potential home buyer. Interest rates affect affordability. The first thing I realized is that most NACA employees are not bad people, but they are overwhelmed and overworked. Consequently, the customer suffers. I had the most amazing Mortgage Counselor who actually worked hard to get me qualified and was a great person. He tried his best to process my application quickly, but his ability to expedite the process is hindered by overwork and the bureaucratic quagmire. Due to sheer lengthiness process, the homes I was interested in purchasing rose by $4, 000 from January to March. Watching rising interest rates and home prices, caused my blood pressure to rise, sleepless nights and weariness. It is overwhelming, because there is nothing that you can say or do to truly expedite things at NACA. This is inexcusable. In 2018, when technology affords most financial institutions the ability to refine and speed up processes to benefit the customer, NACA's process undermines the customer and is slower than ever. I never dreamt that buying a home would have negative health consequences, but at NACA it does. The process just takes a toll. And this is coming from someone who furnished every requested piece of paperwork and learned that my qualification process was one of the fastest.
    After I qualified, I felt elated, but this elation was short-lived. I was unprepared for another hurdle. Another emotional jolt came when I was assigned a new Mortgage Counselor; NACA now has MC’s who handle the home buying phase. This is someone who you have no relationship with and in my case, the new MC is totally detached and unconcerned. It is natural, because I’m a stranger to him. He does not respond to emails, and rightfully so, because he just doesn't care about you the way the previous MC with whom you’ve established a relationship. One MC should handle the process entirely, which is how it was in 2006. At this stage, there should be a relationship with the MC. People who feel empathy and connection to other people want to help them and the opposite is true for those who are disconnected.
    I just attended the Home Buying workshop last week and ventured out to view homes. While attempting to make an offer over the weekend, I realized that nothing could happen over the weekend. I sent emails, realizing that I wouldn't be able to make contact until Monday. Even on Monday morning, there was no response. It required a fourth email before my new MC responded.
    Because of the nature of the NACA process, I can foresee that a roadblock or hurdle will be introduced. The MC mentioned in an email that HOA fees could possibly force me to go through the qualification process again.
    To NACA, we are just numbers, not people. They parade around success stories, but fail to address the problems and horror stories. Complaints mean nothing to NACA.
    Some of their employees are arrogant and constantly say, “NACA has the best mortgage product, everybody wants us.” While it is an excellent product that people desire, there shouldn’t be a take it or leave it attitude. The very people NACA purports to help are battered by the system. It is actually sad that a product that is supposedly meant for good, wreaks so much havoc on so many lives. Other non-profits, like Habitat for Humanity offer great products and are very focused on offering great customer service.
    Systemic mistreatment of people is inexcusable.

    0 Votes

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