Novad management consulting is the newest loan servicing contractor for other single-family federal housing Administration (FHA) loans as well as for home equity conversion mortgages (HECM ) also known as a reverse mortgage.

About Novad Management consulting

  • Novad management consulting replaced the last servicing contractor Deval LLC.
  • Novad Management consulting became responsible for servicing FHA single-family secretary-held assets, assigned HECMs(also known as a Reverse Mortgage ), HECM subordinate mortgages, secretary-held Title II mortgages and partial claim subordinate mortgages On September 29 2015.

FHA Short Sale Escalations – Contacting Novad to open a ticket

If you are going through challenges on a FHA short Sale you need to open a ticket with HUD to get a HUD counselor involved in the processing of the FHA short sale. The HUD counselor will work side by side with you to find a resolution to your problems with the servicer and will assist you in escalating the review within the servicer.

To open a ticket you must contact Novad Management Consulting, before the ticket can be opened they will make you email or fax them the offer being reviewed by the servicer and your LOA along with the FHA case number.

Escalations can be tricky if you are not familiar Novad Management Consulting systems and guidelines.

After 24 to 48 hours Novad Management Consulting will if docs emailed in confirm when you are authorized to call back in or if faxed give you a call to complete the opening of the ticket. Never wait for Novad to contact you or for the email. A lot of times the docs are processed in less time than quoted.

Once you have contacted Novad Management Consulting you will need to present your case/complaint and obtain a ticket number. Roughly 24 hours after the ticket is opened a HUD counselor will be assigned and will contact you. Never wait to be contacted, its recommended that you call back within 24 hours to confirm the name and contact info of the HUD counselor assigned so you can reach out and make contact first.

HUD representatives in many cases help expedite variance review time frames and will assist in trying to assure that FHA files are moving forward in adequate time frames per HUD guidelines and regulations. When the mortgage servicer is dropping the ball and operating outside of or not in compliance with HUD guidelines then you must open up a ticket.

If you have questions about an underwater mortgage, loan modification, foreclosures ,short sales , Reverse Mortgage Short Sale please call us at 888-572-8020.

 

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Novad Management Consulting – Opening a HUD ticket for FHA Short Sales by