Business Profile
Business Consultants
NOVAD Management ConsultingThis business is NOT BBB Accredited.
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Complaints
Customer Complaints Summary
- 58 total complaints in the last 3 years.
- 0 complaints closed in the last 12 months.
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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:03/09/2023
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.
My Aunt signed a Reverse Mortgage on March 2, ****. In January 2020, she passed away. At that time, NOVAD was handling the loan. When I informed them of her death, and that the house was "under water," they had me sign a "Deed In Lieu." Recently, I was informed that they didn't accept the Deed In Lieu. As such, I was going to see how I could sell the home. When contacting Novad, I found out that ****** has replaced them. After speaking with ******, I found out that NOVAD had sold the "debt" to ******************* Services. Land Home doesn't have this property, or loan. This is very disconcerting. Who bought the "debt?" Also, the letter that was sent by NOVAD was sent to my Aunt's address. They had/have my contact information. They NEVER contacted me. This property was in a TRUST. How could they sell it? Who has it? I need someone to contact me. The property is in pre-foreclosure and time is of essence.Business Response
Date: 03/23/2023
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 ******************* **************.Initial Complaint
Date:01/31/2023
Type:Customer Service 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.
On 12/2/2022 Novad received payoff check amount for reverse mortgage up to the date of 12/21/2022. I called and they sent me a email 1/9/2023 confirming they received pay off 12/2 and reverse mortgage was paid in full. The problem is They received excess funds from 12/3 to 12/21 On the payoff letter from Novad to our ************* it states that any excess funds would be returned. Since 12/23/2022 I have tried to email, Fax and call and they do not respond. Every time I call they say they will escalate it and have someone call or email but they dont. I am the daughter of the borrower. The borrower passed away and I have always had authorization to speak to Novad. They have copies of POA, Her Will and Trust. I am executor of her Will , sole beneficiary of Will and Trust. The payoff amount was ********** and was good thur 12/21/2022. The per diem per day ***** as stated on Novad letter. I want to know why they are not refunding the excess **** Excess *** around ******. I have called and faxed our new address also. The borrower is ***************************** FHA# ***-2694839 address under reverse mortgage **********************************************************. if this doesnt get resolved I will contact ************************ and The consumer **************************** Thank you *************************Customer Answer
Date: 02/06/2023
I received an email from the company and they are issuing me a refund check in 5 to 7 business days. I just wanted to let you know. Thank you Laura *******Initial Complaint
Date:01/30/2023
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.
I am writing on behalf of my parents, ******************************** They reside at ********************************************************. November of ****, my parents took out a reverse mortgage with ContinMortgage in the amount of $63,000.00. Since that time, the mortgage has changed hands several times. The last two mortgage holders were Novad Management Consulting and RMS. In 2022, my parents received notice that the original loan was $70,500.00 from Novad Management and they had paid $11,8342.80 in delinquent taxes. We wrote to Novad Management July 2022, asking for proof of outstanding taxes and payment. September 2022, we wrote to Novad Management again along with carbon copy to **** of America and RMS. At this time, we asked for explanation of difference in original loan amount and proof of payment for taxes. They have ignored our request and continue to demand payment from my parents for payment of outstanding taxes. My father is 89 years old and have been tax exempt since age 85. So, there should not have been any delinquent taxes. I am filing this complaint seeking help to resolve this issue and make sure the mortgage company is not in the process of taking any legal actions against my parents.Business Response
Date: 02/08/2023
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 ******************* **************.Initial Complaint
Date:01/12/2023
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 requested payoff amount for a reverse mortgage and was given the information to send it out but after weeks of waiting for confirmation no one answers the phone nor can they assist me with the check that was received for over $600,000. My bank has provided a copy of endorsement by them but no one can answer the phone after hours on hold to credit my mortgage and provide information. Please help in this caseBusiness Response
Date: 01/24/2023
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:01/04/2023
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.
My father had a reverse mortgage through Novad. He moved out of the home into assisted living in early 2022 and passed away early December of the same year. Both myself and my brother have tried to contact Novad since early 2022 to find out next steps—calling and emailing. NO ONE ANSWERS THE PHONE AND THERE IS NO VOICEMAIL. NO ONE RESPONDS TO EMAILS. We are giving the house back to them. It is currently vacant and has been for over 6 months. We continue to incur expenses on the property including property taxes, insurance and utilities. Please help. We need closure on this issue!Business Response
Date: 01/04/2023
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:12/20/2022
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 not been living in the house and house is empty. Unable to speak with anyone from Novad. I have sent Novad all paper work for foreclosure on property since July 2022. Novad said it would take 90 days to process. I did speak with ******* and she told me ****************************************************************************************** the process. Now she will not answer my emails. I have tried calling Novad 3 times and they say it is escalated and someone will call back in 5 days but no one calls back. My mom has no more money to pay taxes and insurance after December. I need to speak to someone from Novad. This company has been horrible to work with.Business Response
Date: 12/29/2022
as of Friday December 9th NOVAD is no longer servicing the HECM portfolio for HUD. You will need to contact Compu-Link (Tulsa), the new contract servicer - we do not have a phone number. Or you can contact the FHA Resource Center 1-877-622-8725.Initial Complaint
Date:12/19/2022
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 am the representative for the estate of someone whose HECM loan is being handled by H3***3433373733333035H now. It is impossible to reach Novad by phone, instead you get a phone answering service who is unable to help, only to pass messages. Novad has in place several arbitrary deadlines which allow them to foreclose on the property unless a payment has been made. We intend to sell the property and pay off the loan (as indicated in the original paperwork, this is an option). Novad tried to take control of the property by locking me out because they did not process in a timely manner after I submitted my letter of authority as representing the estate (to request an extension). After this was all resolved, I had proven to them that it was listed for sale. They told me I would be responsible for hiring my own locksmith due to their locking the buildings. All was well until last week when I arrived to show the property to an interested party to find padlocks screwed to every door. Im unable to get inside now to show the property, to keep up with maintenance or to make sure it is secured. I was never given any deadline for when something like this may happen, nor was I given a notice before they locked me out of the property which I am responsible for through the estate. The largest issue with this company has been the negligence to respond to me and the inability to reach anyone directly. The person managing this case has neglected to respond to my emails for over 5 days at least twice. I feel strongly that Novad is using these tactics as a way to get the property even though the loan terms state they get the property OR a repayment of the loan. It is not their decision which one of those it will be, it is my decision. They will not force my hand on this matter. I need to be able to contact someone regarding this as soon as possible.It is shameful to treat someone like this especially in the circumstances of a death of a family member. Case number: FHA #***********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: ************Customer Answer
Date: 12/28/2022
Complaint: ********
I am rejecting this response because: this does not appropriately resolve the complaint. The company has taken no responsibility for their mishandling which occurred long before this loan was transferred to another company. Regardless of the transfer, the negligence of/by Novad and their employees is their responsibility to come good for.
Sincerely,
***************************Initial Complaint
Date:12/17/2022
Type:Delivery 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 have been trying for weeks now to get a payoff amount on our moms home, (she passed away on 5/14/22). We were told from a rep at Novad that they need us to fill out a third party authorization form and e-mail the form to them. The e-mail was bounced back. We tried another e-mail that we found on their website, that was bounced back as well. Now, when I call the same number I called and spoke to a rep only a week ago, I get a busy signal.Our Attorney has written to Novad to obtain a payoff and received no response.We have a buyer for our moms home and need a payoff amount in order to close.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:12/17/2022
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.
Novad Management Company took over my reverse mortgage 4 months ago. I was able to receive an unscheduled advance payment I requested via email last month. I need to get another, and I followed the same procedure, but the email I used last time comes back address:"The response from the remote server was:550 5.1.1 <***************************************************************>: Recipient address rejected: User unknown in relay recipient table"I tried calling the number on their letterhead that I had used last month and it rings once and goes back to dial tone. I tried calling the number on their website and it rang no answer. I called between normal business hours both times.Has the company gone out of business? What is up with them?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:12/16/2022
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: ************
NOVAD Management Consulting is NOT a BBB Accredited Business.
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