Novad Management Consulting

We received a letter that was dated Sept 22nd as well. I found it odd that I had to mail in my payment. Called every number on the letter and could not get a live representative on the line. Conducted some research and found out that this is FRAUD! Do not send any money to the address mentioned on the letter DO NOT DO NOT DO NOT!

We received one that was dated Sept 22nd as well and our mortgage has never been with this company. I found it odd the only way to pay was by mail. Most loan companies these days prefer online payments with auto pay set up. This has fraud/scam written all over it. I hope people don't actually fall for this.

/I received a letter dated 9/22/21. I called the bank this morning and unfortunately it is not a scam. I applied for COVID hardship to defer 2 payments and it was added to end of my loan. This is the amount that is being transferred. My representative told me that many customers was calling about this. I stated the letter wasn't clear so that is why I thought it was a scam. I was told another will be mailed with more details since the first one was so confusing.

NOT A SCAM

If you took the COVID loan deferment those payments were covered by HUD. Basically, you have a 2nd mortgage with HUD for the balance. Good luck getting anyone on the phone. I am trying to sell my house and have not been able to get through on the phone and their email inbox is full. So if you decide to sell your house, you will need the payoff from HUD, not your mortgage provider. This certainly wasn't explained very well when I took the deferment.

Same situation. I received a letter from ISN first indicating they would be my new loan servicer and then today I received another letter from Novad indicating that they are now my new loan servicer. I called and spoke to my current mortgage loan servicer and they stated that there has been no transfer of servicing and to have me email them a copy of the letters. They also stated that loan servicers are required by law to provide you with a minimum of a 14 day notice that your account is going to be transferred. So even it IF these letters were legit, they could not do anything because it is less than the 14 day window. ALWAYS contact your CURRENT loan servicer when you get anything like this. They will be the ones to tell you if it's valid or not. Don't risk your home, credit OR identity!

I just got the same letter, Thanks for the heads up.

I just got the exact same letter in the mail. I knew it was a scam.

The phone number I called on the ISN Corporation letter sends you to another phone number that noone answers. If you look closely at the letterhead for NOVAD it's not original letterhead. I called my attorney. There are too many people losing homes by ignoring letters like this. Get your attorney involved and file a fraud claim with the FTC.

I too got this letter, thank you for posting!

FHA INFO #21-84 October 5, 2021
HUD Awards New Single Family Secretary-Held Loan Servicing Contract
Today, the Department of Housing and Urban Development (HUD) is announcing it has
awarded a new Single Family Secretary-Held Loan Servicing contract to Information Systems
& Networks Corporation (ISN). ISN will be responsible for servicing the following FHA Single
Family Secretary-Held Mortgages beginning October 9, 2021:
• Partial Claim Subordinate Mortgages;
• Section 235 Subordinate Mortgages;
• Nehemiah Subordinate Mortgages;
• Emergency Homeowners Loan Program (EHLP) Subordinate Mortgages;
• Asset Control Area (ACA) Mortgages;
• Hope for Homeowners (H4H) Subordinate Mortgages; and
• Good Neighbor Next Door (GNND) Subordinate Mortgages.
This transfer of servicing does not affect to whom borrowers make their primary mortgage
payments. Borrowers should continue to make their primary mortgage payments to the entity
listed on their monthly mortgage statement.
Beginning October 9, 2021, all required documentation, correspondence and telephone
inquiries related to the servicing of the above-referenced Single Family Secretary-Held
Mortgages must be directed to ISN as follows:
ISN Corporation – Western Operations Center
Attention: Secretary-Held Loan Servicing
2000 N Classen Blvd Suite #3200
Oklahoma City, Ok 73016
Phone: 1-800-CALLFHA [protected]). Persons with hearing or speech impairments may
reach this number by calling the Federal Relay Service at [protected].
Fax: [protected]
Email: PCServicing@hud.gov
Payoff Requests: PCPayoffs@hud.gov
Subordination Requests: PCSubordinations@hud.gov
Release Requests: PCReleases@hud.gov
Mortgagee Partial Claim document submittal: PCDocs@hud.gov
Emails and phone messages will be responded to during normal hours of operation, Monday
through Friday, 7:00 AM – 7:00 PM (Central) on all non-Federal holidays.
NOVAD Management Consulting (NOVAD) will remain responsible for servicing Assigned
Secretary-Held Home Equity Conversion Mortgages (HECM) and HECM Subordinate
Mortgages.
All-required documentation, correspondence, and telephone inquiries, related to the servicing
of the Single Family Secretary-Held HECM loans must be directed to NOVAD as follows:
NOVAD Management Consulting
Attention: HECM Servicing
2401 NW 23rd St., Ste. 1A1
Oklahoma City, OK 73107
Phone: 1-800-CALLFHA [protected]). Persons with hearing or speech impairments may
reach this number by calling the Federal Relay Service at [protected].
Fax: [protected]
HECM Servicer Inquiries: hecmservicing@novadconsulting.com
HECM Payoff Requests: hecm.payoffs@novadconsulting.com
Emails and phone messages will be responded to during normal hours of operation, Monday
through Friday, 7:00 AM – 7:00 PM (Central) on all non-Federal holidays.
View additional resources on the Secretary-Held Mortgage Servicing Contractors web page.
Need Support? Contact the FHA Resource Center.
• Visit our knowledge base to obtain answers to frequently asked questions 24/7 at
www.hud.gov/answers.
• E-mail answers@hud.gov. Emails and phone messages will be responded to
during normal hours of operation, 8:00 AM to 8:00 PM (Eastern), Monday through
Friday on all non-Federal holidays.
• Call 1-800-CALLFHA [protected]). Persons with hearing or speech
impairments may reach this number by calling the Federal Relay Service at 1-800-
877-8339.
About FHA INFO
FHA INFO is a publication of the Federal Housing Administrations (FHA), Office of Single
Family Housing, U.S. Department of Housing and Urban Development, 451 7th Street, SW,
Washington, DC 20410. We safeguard our lists and do not rent, sell, or permit the use of
our lists by others, at any time, for any reason.
Visit the FHA INFO Archives to access FHA INFO messages. For additional information
and resources, visit the FHA Single Family Housing main page on HUD.gov

Lansing, Mich.-based Celink has been awarded the Federal Housing Administration (FHA) Single Family Secretary-Held Home Equity Conversion Mortgage (HECM) Assets contract and will provide loan servicing for HECM reverse mortgage loans sponsored by FHA, RMD has learned.

According to the contract’s entry on a website administrated by the U.S. Government’s General Services Administration (GSA), the total contract value is just over $169 million and the “period of performance” will be for a one-year base period and four additional 12-month option years.

While Celink and the government have specified that the contract has been awarded, people familiar with the matter have relayed the possibility that other potential bidders for the contract could offer a challenge to this award.

When reached, a representative of prior servicing contract holder Novad Management Consulting declined to comment.

“As posted to SAM.gov today, a contract has been awarded for Home Equity Conversion Mortgage (HECM) loan servicing, ” a HUD spokesperson told RMD. “We have no further details to provide at this time.”

For Celink’s part, the company is pleased to be partnering with HUD and looks forward to putting recent investments into practice, according to a statement from Celink CEO Marion McDougall.

“We are delighted to be partnering with HUD on this important assignment and believe the significant investments made over the past five years in Celink’s management capabilities and technology platform have positioned the company to continue its leadership position in the increasingly important reverse mortgage marketplace, ” said McDougall. “We look forward to partnering with the HUD team and offering exceptional customer service, and operational effectiveness to HUD and all the HECM borrowers.”

When asked for additional comment, a representative of Celink declined to provide it.

When reached, National Reverse Mortgage Lenders Association (NRMLA) President Steve Irwin relayed optimism at the news.

“I am delighted to hear the news that Celink has been awarded the FHA Single Family Secretary-Held HECM Assets contract and will provide loan servicing for HECMs, ” Irwin told RMD. “There have been many service-level challenges with the various HECM contract sub-servicers. To now have a robust team with the subject matter expertise and state-of-the-art systems in place to handle the administration of the assigned HECMs, we should expect to see increased satisfaction among HECM borrowers as well as greater efficiencies in the servicing of the secretary-held HECM portfolio.”
Recent history
*************************************************************
AND
***********************************************************
Novad Management Consulting has been FHA’s reverse mortgage servicing contractor since 2014. FHA had been aiming to find a new servicing contractor to help fix remaining back-end loan issues at the end of the Trump administration, according to 2020 comments from U.S. Department of Housing and Urban Development (HUD) and FHA personnel.

“The current procurement that is out and [which] we are currently working through will only involve servicing of HECM mortgages, ” said Kasey Watson, program director of HECM servicing at HUD’s National Servicing Center in November, 2020. “So, we’re excited for that change, and excited that that procurement is in-process. Of course, as that works through this entire process, I can’t give you any kind of update as far as when we think that will be completed. But it is in-progress, and we’re excited to be moving forward down this new path.”

After the transition to the Biden administration, indications from the agency pointed to no major change taking place regarding the HECM servicing contract by late 2021. That October, HUD announced that it had awarded a new Single Family Secretary-Held Loan Servicing contract to Information Systems & Networks Corporation (ISN) on a host of single-family forward mortgage programs.

However, the Secretary-Held HECM loans and HECM subordinate mortgages at that point remained unchanged with Novad Management Consulting, according to an FHA informational notice.

In February, it was announced that Fairway Independent Mortgage Corporation had selected Celink to serve as its own reverse mortgage subservicer. In April 2021, Celink announced the launch of its online reverse mortgage servicing portfolio for borrowers, and applauded the U.S. Department of Housing and Urban Development (HUD) for introducing new protections for non-borrowing spouses (NBS) the following month.

Editor’s note: This story has been updated with additional contract details derived from online GSA records.

I recieved a letter dated 9/22/21 and here’s the issue . I saw in comments the great Wells Fargo who our loan was sold to from original lending company . The notary came out and all documents signed . 1st payment wasn’t due and they stuck a sheriffs sale on door and that was the scramble to get attorney which created the next issue which was a result of a fraudulent loan modification which fha should of protected against so I guess in your company responses when I see novad Aka ISN Corp stating comments like “u must have forgot “ never missed one payment and to save house it required chapter 13 and paying thousands of dollars to keep a home that was due to fraud and wells cannot mortgage in Michigan any longer btw so it would be nice to know if my loan number says something like an. Amount owed now to fha / hud . Never got help from nobody and Wells sold the mortgage to Carrington and a letter comes last week stating behind in mortgage but there’s a trustee who is pd 8 % to have money sent to another state and send to mortgage company . No where does it say anywhere forbearance and this is 3 years of it and not a missed payment during co vid so person who has responses to not being scam ? Are u serious these letters are amazingly on same date and no one forgot anything and I will contact and I better get letter because these loans and letters were Wells Fargo fraud ! Pay us not we pay you

I don't understand what is going on! We have no mortgage. We paid it off years ago!

I read on another board that if you had a COVID forbearance loan, then those missed payments were transferred to NOVAD. NOVAD then manages that "loan." The person only found out about it because they were trying to sell their house and NOVAD had a lien against them. They had their mortgage through Wells Fargo.

I received the same letter and one from ISN a few days ago. I too questioned it and think it is a scam.