Business Profile
Business Consultants
NOVAD Management ConsultingThis business is NOT BBB Accredited.
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Complaints
Customer Complaints Summary
- 31 total complaints in the last 3 years.
- 1 complaint closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.
Initial Complaint
Date:12/16/2022
Type:Sales and Advertising IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I need to request a payoff for FHA Case # ***********. Every contact number or email I have reached out to is either no longer in service or no one responds or answers. Emails come back undeliverable. Any help or information to get the payoff ASAP would be greatly appreciated.Business Response
Date: 12/28/2022
These complaints should be sent to ***********************
As we no longer have access to the system to check status of individual loans;
Please advise if we need to respond to each complaint staying just that.
Regards.
************************President/CEONOVAD Management Consulting LLC
Direct: ************Fax: ************Initial Complaint
Date:12/14/2022
Type:Service or Repair IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
My mom has/had a reverse mortgage managed by Novad. I'm responsible for settling her estate. The only phone number on her statements or on line are not answered. I need to speak to them immediately.My phone number is ************.The borrower is *****************************************Loan "skey" is ******"Business Response
Date: 12/28/2022
These complaints should be sent to ***********************
As we no longer have access to the system to check status of individual loans;
Please advise if we need to respond to each complaint staying just that.
Regards.
************************President/CEONOVAD Management Consulting LLC
Direct: ************Fax: ************Initial Complaint
Date:12/14/2022
Type:Service or Repair IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
So my grandmother went into a nursing home a year ago. It literally took 6 months for ANYONE at Novad to talk to me then another 3 months after turning in my poa paperwork and being told they would call back the same day. They have now informed me that I will have to pay the taxes on this house so that they can take it back well if yall would have talked to me when I contacted you the first time we could have been done and over with this an I wouldnt be out $2400 for a house I never even lived inBusiness Response
Date: 12/28/2022
These complaints should be sent to ***********************
As we no longer have access to the system to check status of individual loans;
Please advise if we need to respond to each complaint staying just that.
Regards.
************************President/CEONOVAD Management Consulting LLC
Direct: ************Fax: ************Initial Complaint
Date:12/12/2022
Type:Order IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I have a HCEM with HUD(FHA Case#***********) and Novad is the loan servicer for HUD's reverse mortgage division. In January 2022 I had a fire in my home for which my home insurance(FMI) paid me/HUD $11068.20 for repairs to be done. According to Novad's requirements, I sent the above endorsed check, statement of loss from the insurance company and estimates of repairs to be done by ***********( *************************************************; who I selected to complete the repairs). The monies were to be deposited in an escrow account and released to me and *********** upon completion of each phase of completion. We received an initial release of funds $3549.33 July 13, 2022. We had an inspection done October 19, 2022 by ******************************(reference#*******; telephone: ************) who were contracted by Novad . Approximately, 78-80% of work had been completed except electrical upgrades. A request was made to Novad for the release of the final disbursement of $7518.87. A follow up email on November 15, 2022 to loss specialist, ********************** informed me that the funds were disbursed on October 31, 2022. When subsequent emails were sent, we were at first informed we would be receiving it any day now(November 16, 2022). Since the end of November all emails and phone calls have been ignored or no response. My daughter, ***************************** is assisting me in this matter. Her email: *********************** Thank you.Business Response
Date: 12/21/2022
I just left you a voice mail to inform you that -as of Friday December 9th NOVAD is no longer servicing the **** portfolio for HUD. You will need to contact ********** (*****), the new contract servicer - we do not have a phone number. Or you can contact the ******************* **************.Initial Complaint
Date:12/07/2022
Type:Service or Repair IssuesStatus:UnansweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
In July 2009 my wife and I took out a reverse mortgage with Financial Freedom Acquisition LLC, a subsidiary of *************** It was FHA Case 105-4951284. Later we learned that the mortgage had been sold and Novad Consulting was taking over the management of the loan. IN May 2022, my wife and I moved to ******* for health reasons and to be closer to family. As the balance of the loan exceed the value of the house I applied to Novad for a Deed in lieu of Foreclosure as the law applied. At first Novad was cooperative and sent inspectors to inspect the house (in fact they sent them twice). On July 14, 2022 they infirmed me that there was a problem with my title. To quote their words "There is a missing assignment of the Security Deed from Financial Freedom Acquisition LLC, a subsidiary of ************* FSB to Mortgage ******************************** **** as nominee to Financial ******************** **** They said they had to clear that up before proceeding any further. I emailed back that it sounded more like a problem with the documentation of the loan transfer and had nothing to do with my title. At that point all communications ceased. They have not responded to calls or emails since. I have ceased paying any expenses on the house and have forwarded all bills to them (insurance, taxes homeowners dues, etc). I find it unforgivable for them not to keep me informed what progress they are making to solve the problem, They are a HUD contractor and cannot HUD intervene and require them to perform their contractual obligation? Cannot HUD appoint a different server to handle these cases since Novad won't? How do we proceed from here. The house was located at ****************************************************************. We vacated and moved to ******************************************************* in May 2022. I notice many people seem to have a problem with Novad. Can't something be done?Initial Complaint
Date:12/07/2022
Type:Service or Repair IssuesStatus:UnansweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
My great aunt took out a reverse mortgage back in 2013,at that time I dont think she was of sound and mind.There was nobody with her when this reverse mortgage was explained to her..I believe they preyed apon an elderly lady frightened of going into a nursing home..convincing her she would stay in her home safewell that wasnt the case about 1 year later she ended up in s nursing home and within a few months died..I am one of her heirs listed in her wil I want to prove that Novad took advantage of my great aunt and want this case closed..Plus Novad tripled the amount of money that is owed on her estate.I will be getting a foreclosure lawyer and Im willing to prove Novad took advantage of my great aunt..case#*********** amount owed ********** amount borrowed ******* ********** of ************************** and *********************** ..Please help me keep this property I have been living here for 10 plus years and love this property.I have no family left and this is all I have left .Thank you,*************************** great niece.Initial Complaint
Date:12/01/2022
Type:Service or Repair IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
My parents had a reverse mortgage thought RMS but eventually it became Novad My father passed away in ***************************************************************** August of this year I have Sent all documentation numerous times, dealing with 5 different people . Never knew who did what. We are giving the house back to them. It is currently vacant and has been for three months or longer. I have kept the insurance on it. Every utility is turned off and they know this They sent an inspector out and said they have given it to the deed **** No one will call, email or confirm its all been taken care of and they have the deed in their name This is a great deal for people not having to make a payment as long as they live in the home, but a nightmare for their heirs to settle. They (NOVAD)wins 100% of the time. I could not sell the house for what my parents owe on it. Please helpBusiness Response
Date: 12/06/2022
NOVAD has contacted the complainant and advised the case has been referred to a Deed in Lieu attorney to process the request for a Deed in Lieu. NOVAD will contact the complainant once the attorney has completed the documentation. NOVAD has expedited the request.
Sincerely
**********************;
Contract ManagerInitial Complaint
Date:11/21/2022
Type:Order IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
We had a contract signed to purchase a home in ***********, ** on 8/27/2022. This is an estate sale, and we thought we were only dealing with a realtor, attorney and the executor. We did our due diligence in getting everything done on time, but there were continued delays on their end. Upon inspection, issues were found with the septic tank, and repairs will total just over $6000. We requested a $6000 credit, to which they accepted in September, and the deal was moving forward nicely. The original close date was supposed to be 10/10/2022, but this got pushed back to 10/31/2022 due to probate. This was closed, and we got our clear to close with our lender on 10/28/2022. The new close date was set for 11/3/2022, and we thought this was finally happening, but then new information comes to light that was not disclosed from the beginning. On 11/2 we were informed that the $6000 credit would not be accepted by our lender because it contained language to indicate it was for home repair. The fix was to re-write it. This should have been easy enough, but upon submitting to the seller's attorney, my attorney then found out the home had a reverse mortgage with NOVAD and they advised they needed an additional 5 days to review something they already accepted back in September. Apparently, the seller's attorney has been contacting them daily, and is continuously told they need more time to review. Our rate lock expires today 11/21, and they were aware of this, but did not care. It has been almost 12 business days since they said they needed 5 days to review. Upon reading reviews of this company online, it's hard to believe they are allowed to exist in a nation of laws. My partner agreed to try and continue this purchase until 12/1, but I do not believe they will respond by then either.Business Response
Date: 11/28/2022
NOVAD contacted complainant and left a voice message to contact NOVAD about the complaint. Complainant has not returned our call.
Sincerely
*********************Customer Answer
Date: 11/28/2022
Complaint: ********
I am rejecting this response because: No phone extension given. Attempts to call back using the given phone number results in long wait times, round-about automatic routing, and once I reached a live person, she did not know what I was talking about and offered to escalate the call again.
Sincerely,
***********************Business Response
Date: 12/21/2022
I just left you a voice mail to inform you that -as of Friday December 9th NOVAD is no longer servicing the **** portfolio for HUD. You will need to contact Compu-Link (*****), the new contract servicer - we do not have a phone number. Or you can contact the ******************* **************.Customer Answer
Date: 12/21/2022
Complaint: ********
I am rejecting this response because:Way too late for that. We have already backed out of the sale.
Regards,
***********************Initial Complaint
Date:11/18/2022
Type:Order IssuesStatus:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Property at ********************************************************************************* was a reverse mortgage with ***************************, he passed away about 3.5 years ago the house has been squatted in since, I have made repeated attempts to contact a representative from the company. This property is next door to mine and there is growth from bushes trees and the squatters are going to end up owing this property due to **************** squatters rights please rectify this situation.Business Response
Date: 11/30/2022
NOVAD attempted to contact the complainant and was unable to leave a message for the complainant to contact NOVAD about the complaint. Complainant has not returned our call.
Sincerely
*********************Customer Answer
Date: 12/01/2022
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
***************Initial Complaint
Date:11/03/2022
Type:Product IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Great-grandparents took out a reverse mortgage years back. Family had been maintaining the property until the grandmother entered a nursing home. Heir has attempted to contact NOVAD many times over the course of more than a year (submitting proper authorization paperwork TWICE). HUD center escalated the case to NOVAD and we received an email from an employee with instructions on what step is next. No contact number given in the email signature. Replied to the email with no response for over a month. HUD escalating case AGAIN and state that if no reply it will go to HUD management to investigate. All that we want to do is make an heir purchase so we can keep this home in the family and it seems this company would rather want to take this over to make a dollar. What legitimate company does not have a direct contact number and will not respond to wanting to pay off the lien????Business Response
Date: 11/09/2022
Complainant has been contacted and given instructions on how to proceed and we are waiting the requested documentation.
Sincerely
**********************;
Contract Manager
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