Frequent Contributor
Posts: 478
Registered: ‎02-07-2010
In-House Mortgage Brokers

My wife and I are currently buying a house from Ryan Homes in the DC metro area in a new development. We are required by contract to apply for their in-house mortgage lender aka broker, NVR Mortgage. They peddle $7,500 closing cost assistance but of course this is built back into the loan with origination fees and other padded fees. I am just curious as to how this is legal as it seems like all of these companies are co-mingled together. NVR Inc., owns Ryan Homes, NV Homes, NVR Mortgage, and NVR Settlement Services. I also assume they get paid when they sell your loan as well?

Starting Score:TransUnion: 698 (12 FEB 2010), Equifax: 674 (12 FEB 2010)
Current Score (Lender Pulled):TransUnion: 695 (26 JUN 2013), Equifax: 636 (26 JUN 2013), Experian: 670 (26 JUN 2013)
Goal Score:All scores 700+ by Dec 2013!!

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