Phoenix, Arizona
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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.

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Anonymous
#1621366

Is it possible to use the national office or must everything be closed locally?

NACA_Online
#971292
NACA Verified Representative

It appears here that the "Seasoned Realtor" writing this review has forgotten one key factor: The NACA program is not for everyone. It is designed primarily for low and moderate income homebuyers to receive a fair, fixed-below-market-rate mortgage with no down payment and no closing costs, nor is perfect credit required.

It is not designed to be a fast or easy process. The examples of "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" are in fact examples of the sort of "Be in your new home in 30 days!" circus that caused the housing bubble, which is something to which NACA never has and never will subscribe.

Common sense dictates that the biggest financial transaction of one's life is something that should never be hurried. The desire for instant gratification and the greed of those out for fast commissions led to the shortcuts which eventually put this country through an economic nightmare and cost millions of Americans their homes. To refer to NACA's full document underwriting and exacting attention to detail in this process as "predatory" speaks more to the writer's approach to the best interests of their clients than NACA's.

The typical NACA member takes six to nine months to complete the process from initial workshop to closing.

Every member's file is different, and the time it takes for any given file to reach closing is dependent on their individual circumstances. However, NACA has infact streamlined its process to get our members through credit access and on to closing more quickly than ever without sacrificing the detail that is at the heart of what we do.

It is curious that the writer chooses to also focus on Section 8 clients as a source of their complaints. Statistically, those who have had to make use of the Section 8 program tend to have more financial issues that need to be dealt with, which in turn would cause those files to take longer to reach qualification and closing.

We're sorry if the writer is frustrated with NACA, but the fact is that the review seems to imply that they want NACA to be a source of the quickie slam-bang loans that were the direct cause of the Great Recession. That simply is never going to happen.

The NACA process will always be meticulous, but in the end will always pay off for the homebuyer with a loan that they cannot get anywhere else.

When a homebuyer who would otherwise get stuck in a predatory loan or not get a loan at all can get a mortgage that will save them tens if not hundreds of thousands of dollars over the life of the loan, it's clearly worth the time and effort. Tim Trumble Online Operations, NACA ttrumble@naca.com

Barbazhp
to NACA_Online Phoenix, Arizona, United States #971340

Dear Tim, I notice you only responded to the time, not the dishonesty, incompetent, unprofessional behavior. There is nothing predatory with customer service.

Do you mean to say the 19 year. Old first time buyer I brought in with a good job, 800 fico, score, and $13000 saved is not worthy of a naca loan and she

should have to deal with

incompetent service. I thought naca and her a great fit. She would have protection from naca if she lost her job and had a house payment lower than her rent.

Too

together for naca? Let's punish the people who have been raised to be responsible.

You are proving my point about naca being anti Realtor. Do you

get paid?

Well so do Realtors and earning a living has no shame attached to it.You are out of touch with the home buying process if you think it as easy, fast commission. Finding a home, a good investment, in the right location, meeting all the myriad of personal needs and wants of not just one buyer but a whole family is hard work. Not to mention matching the up to the correct loan. In their price range,and getting the family to agree on which home to buy.

In that huge crash I did not have even one of my home buyers loose their home . I had people wanting to walk away saying their home would never go back up in value. I had to assure them in very little time the market would rebound and values would return. No one believed me but the values did correct themselves as free markets do.

What caused the. Crash had nothing to do with Realtors, appraisers, and the like. I have a New York Times article from 1990 right in the recovery from the late 80s crash. Saying they could not believe the Clinton administration was encouraging Freddie and *** to loosen up their qualifying rules so every American could own a home.

The writer said that was the start of the next real estate crash. The elected officials/ criminals caused the crash helping their banking backers get rich. I remember no income verification, one paid, on time utility bill in the buyers name, zero dn and seller paid closing costs, loans. No buyer equity, nothing to loose.

It was easier and cheaper to buy that rent. The banks made billions at the encouragement of the party in power, then made billions double dipping government bail out and mortgage insurance payouts taking back the homes from sub prime loans. You can not have a clue and blame Realtors for an economic crash. The facts remain that naca is open to all buyers there are no income limits, there are no area limits, one does not have to be a first time buyer or poor to get a naca loan.

In fact naca is the only NSP that does not have income limits. There are no income, price range, or target area limits to obtain a naca loan. The reason it takes so long to process a naca loan is because of poor management. Phoenix needs less staff assigned to loan counseling and more to processing the documents.

The personality who is good with people. The teachers who are working with buyers on budget, and housing, are not the same type of personality as paper processors. Having both jobs done by the same person, does not work. Slow does not mean good.

You can be efficient, benefit more buyers, and give good customer service. NACA is a business. Non profit, but still a business. The funding is being wasted with inefficient systems.

The loan is a great product. It would seem naca could help more needy buyers by being run well. If a buyer takes a year because they need to pay off bad debt, save the amount of their house payment to get use to making a payment, so be it. But making every buyer wait even when they gave been responsible financially is wrong.the section 8 clients I spoke of were not naca buyers, they are abused by state employees and the inefficient system because if lack of respect of their being worthy of respect.

The state has no way to enter docs on line, to fax docs in, all docs must be hand carried in. The sec. 8 clients have no car mist times. They take a long bus ride in, wait hours, get seen, then the mistakes have to be taken back to the landlord to be corrected, and hand carried back, another day.another whole day wasted.

Why, because no one respects the clients they are getting free rent. NACA in Phoenix has the same attitude. They have a loan no one else has, so they do not need to give good service, you put up with lies, bad attitudes, unprofessional behavior because they do not respect the client. Our way or the highway.

NACA does not have to do a good job, they are non profit and do not care if they are wasting funding by dribbling out loans. After all if the clients have bad credit why respect them? Just like the sec. 8 folks who are mistreated with a slow, wasteful, inefficient system because who cares about people who are poor.

No one. Why not do a good job and fund as many buyers as possible. Helping more buyers. What us wrong with helping more, or even treating the clients who can not go else where with respect they deserve because we all deserve to be treated that way.

The manager in Phoenix would rather throw out a buyers contract than solve a problem. If a seller needs a different vendor for a real reason, do not throw out the contract on a home the buyer has hunted for,get the new vendor approved. Perhaps that solution would benefit naca in the future. While showing that naca cares about their clients at the same time.

Being bad at the task is not a good thing. It doesn't work to hide behind we help poor people.

Your loan is not structured for the poor.let us not forget the economy hurts both well off small business owners, professionals, and the people they employ.

krisfnbs
to Barbazhp Keymar, Maryland, United States #971467

This sounds like an awful lot of complaining... let me just tell you a few things about the home I just closed on last month.

0.062% 30 year fixed interest rate(Yes that is one SIXTEENTH of 1%)

NO PMI

NO CLOSING COSTS

Credit score= 598

Approx interest paid on a 383k loan over 30 years= 28k~ YOU CANT GET THAT ANYWHERE ELSE.

FHA is terrible and for the impatient....if your "rich" enough to go the normal conventional route with 20% down to avoid PMI... you probably dont need naca to begin with. Naca is by far the best kept secret in america. Naca saved my family $320,000 in PMI and interest charges over the course of 30 years.

Is naca fast? No. Is naca perfect? No.

Can naca be frustrating at times? Yes.

Will naca deliver the 100% ABSOLUTE BEST mortgage out there known to man by a WIDE magin? YES YES YES YES YES!

Anonymous
to krisfnbs #971515

Do they help with refinancing?

Anonymous
to krisfnbs Johnson County, Kansas, United States #985812

Yes, STONE, they help with re-financing if you are in a position to lose your home. I hear their re-financing program is awesome.

I went through NACA in October 2012. Yes, it is the best kept secret BUT there are so many negatives that it's difficult for me to recommend it to people. I'm on the fence about it. Did you know that your loan will be listed as a "jumbo" loan?

It was explained to me by the bank when I called them that it identifies people who are "high-risk" regarding credit. That flags each and every one of us! Just look at the fine print on the credit card and loan offers you get in the mail. They will NOT loan to people with a "jumbo" mortgage loan.

My bank told me to call "my lender" about it to get it changed, but I have never been given any follow-up calls or mail nor provided a phone number by NACA to call if I ever have questions once I'm in my home. Again, I agree with many many complaints-they are all valid! I've agreed with maybe three or four comments this Tim guy (w/NACA) is leaving but he has a bad attitude in his responses. I'm going to give him the benefit of the doubt because I truly believe in the good of people and I'm going to chalk it up to being underpaid, over-worked and frustrated in dealing with things that are out of his control that he himself has probably tried to change for the better.

I've also been questioned by many, "Why don't you have insurance on your loan?" I usually tell them that NACA is my mediator in case I lose my job. Unlike Wells Fargo who harassed me in 2001 when my ex-husband and I were going through a divorce and he refused to pay the mortgage and I was a stay-at-home mom. NACA won't allow that to happen. I've even gone to the NACA classes and given my story and it's helped more people to go for it.

I like to help people, but again I agree with many complaints. For example, the HAND department forced the seller of the home I bought to fix an attic fan. WHY? I didn't want that!

I have allergies and I don't use the fan or even open the windows! Why didn't they have him do something else that matters here in the midwest? Like replace the old windows for better insulation? They didn't ask for my input at all.

I also could not find a good contractor because no one wanted to work with NACA getting paid a month AFTER the inspections AFTER the work was completed.

It's difficult...but I have a great interest rate.

Anonymous
to krisfnbs #1588139

You got a good deal but that is not the normal case. You can look up all the complaints here and on Naca Forums and see for yourself you are the exception and not the rule when it comes to NACA.

Yes they have a great product if all of the stars line up. This is not the case for most people who come to NACA. I am quite sure you done your homework and was able to provide NACA what they needed but most people who Tim indicate they target do not hae their stuff together so it's frustrating to start over again with a late pay or if they don't have a steady income etc. Trust me if the people who are in NACA are complaining you can't sit up here and say that people are wrong.

The realtor was just describing her experience and there are hundreds who are saying what that person said about lack of communication, failure to get info or provide info and disrespect is all what NACA is. Why settle for lack of respect?

People should just save money and improve your credit then you won't need NACA. All finanical institutions allow you to buy down points and it doesn't take a rich person to put down 20% if you can save and balance your budget.

Anonymous
to NACA_Online Kissimmee, Florida, United States #1248188

Tim,

My fiance and I also have had a horrible time with NACA we have lost multiple dream homes and are in our second year of being in the "process". We have also lost thousands of dollars on a house we were under contract with for 120 days all due to NACA incompetence.

If you would like to hear our story I encourage you to reach out to Felix Hernandez of NACA Tampa office.

We are trying one last time right now and ONLY because my fiance insisted. I was finished with NACA 9 months ago.

Anonymous
to Anonymous #1586877

Great product, but... same problem here with the Tampa office :(

Anonymous
to NACA_Online #1679467

Thank you so much for writing this. I went to the workshop and I am now a member.

I have my meeting coming up soon and I am looking forward to a new construction purchase. I am very excited and I am in no rush as I never thought I would have the opportunity to buy a home much less a brand new construction.

I have also told other family and friend about NACA. It may not be for everyone but I’m willing to take my time and get everything together to make it work for me.

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