I am a seasoned Realtor who has spent my whole life in the real estate industry.
I have always been an advocate of the NACA product, even though there is a painfully slow, processing time, due 100% to incompetent staff. They lack any idea of professional standards. Shocking behavior of the staff and manager. Lies to customers, out right refusal to open a computer loan file, to check for a document, and then refusal to check the file causes months in delay on an approval.
In the start of the Phoenix office for NACA they had better management and about a three month approval time. Now they are running 8 to 9 months. This is for credit worthy, young people with easy verifications such as one job for the past 8 years, 2 credit cards with on time payments, and a checking and savings account. A slam dunk easy file. Add any past short sales or foreclosures, job changes, get ready to rip your hair out. A couple of years ago, maybe longer, they promoted a loan officer, a good one, into the newly vacated manager position.
The Phoenix office under this new "Peter Principal" manager has made me turn and run no matter how good the loan terms are. This manager is under qualified for management, additionally, she is out of control of the office because she hired poorly, and has never trained her loan counselors.
Imagine in todays technological world, not being able to call and have a conversation with your lender. Imagine, not being able to send them a direct email. Imagine no, none, zero customer service. Imagine why I will not subject my self or my buyers to NACA again.
The only way to get a loan approved, is to get the manager to oversee the file, she is now so over worked, when you need help, from the totally incompetent staff, she yells its not my job! Really showing how much she cares about the borrowers. It is so bad in the Phoenix NACA office the predator lender has become NACA themselves. Their inability to do the job and get a loan closed has cost my buyers thousands of dollars in paying inflated rents to stay longer in their current leases, or to move, store everything they own, and pay winter high season rates for a furnished rental. We have caught the loan counselors in bold faced lies to cover their mistakes, which cause delays and the buyers more money. Even a best case situation will have you faxing or emailing documents into their lynx system over, and over, and over. The staff claims there is no way to see who the email is from, or what the document is. They have to open every email. Well that is the job. Come in everyday, open and file every document. That is called updating the file.
The NACA Phoenix office is blatantly against Realtors, acting and telling buyers to beware of Realtors. Give me a break, any Realtor willing to bring a ready, willing, and able, client into NACA, and wait a year to get paid on a sale, when they could bring them into any other Neighborhood Stabilization Program, or normal commercial lender and get paid in 45 days is not a predator. Realtors and buyers have rarely heard of the program and the only way any of my NACA buyers have found their way into the NACA death trap to home ownership was because I brought them, held their had through every monthly appointment, for 8 months, told them to hang in there it will be worth it at close. While I am fighting to keep the loan alive, I am being stabbed in the back by NACA. I have to warn my clients that they will be lied to, told the loan is being dragged out because of the Realtor. Which is not the case. I have to send the clients to read the Internet reviews to prove it is NACA not me!
I say run, run as fast as you can to any loan but NACA.
It is a shame that this really decent loan product has been ruined in Phoenix by the poor managers abilities and her really bad staff. When folks move it is because they need a place to live. They have broke up with a girl and have to move out of her home, they need to stop renting and buy because their lease is up in a few months, their home has sold and they need to find a new place and move they have 30 days till their home closes, reasons tied to time. Waiting 8 months to be able to even look at a home, after NACA approval, is just next to impossible.
I for one am done trying to convince listing agents to abide by strict NACA rules, and get extensions after the already lengthy 45 day close. In a multiple offer situation, to be told by NACA have the buyer find another home because we must have the NACA title company. Have the buyer give up their dream home! The one they have worked and waited 8 months for! I am sorry but that, NACA, is predatory. Since the prices are not less at your title company, the unyielding rule, must be due to a kick back to NACA, my only guess, as to why they care more about a title closing company than the clients desire to own a home they are in love with.
Sorry NACA, yes you have a good loan, but after being treated as unprofessionally as you have treated myself and buyers, and having your actions show how little you care about buyers, having been lied to and frustrated with your dishonestly and incompetence I am done.
Not only done but now on a campaign to stop any government funding of this predatory lending institution. Predatory to working real estate professionals, and to buyers who are being treated the same way I see my section 8 tenants treated. Like since the section 8 tenants have their housing paid for lets abuse them as people. The same attitude exudes from the Phoenix NACA office, they have something special and we better take what NACA dishes out or we will not get any.
Product or Service Mentioned: Naca Customer Care.
Reason of review: Poor customer service.
Preferred solution: Let the company propose a solution.
NACA Cons: Unprofessional, Incompetant, Lack of ways to comunicate, Very poor manager in phoenix.