PrimeLending, A PlainsCapital Company Mortgage Complaint

PrimeLending, A PlainsCapital Company Mortgage department,

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The night before closing, our lender Prime Lending called to say there was a problem with our loan. The long and short of it is we were told for nearly 4 months, including a Uniform Residential Loan Application and an estimated cash to closing work sheet, that Prime Lending would match a $3000.00 credit the preferred lender for our builder was offering. When we locked in our rate, the credit as well as our earnest money was not showing. I was assured in an email that the earnest money and credit were there Your credits were removed, but you will definitely get credit for your $5000.00 Earnest Money deposit. The $3000.00 Lender credit will be negotiable depending on the rates. Right now, the markets are very volatile so we are seeing a lot of movements and sometimes not in a positive direction unfortunately. Again, we will continue to monitor the rates for you, but we will most likely iron down the fees within the next few weeks before your closing. There was never any negotiating mentioned before this. The night before closing we were told that in order to honor that credit the loan would have to go through their corporate and legal departments which could delay closing for days. We did not have days to delay we had to be out of our rental and could not afford to pay for 2 moves plus storage. They were able to match $1900.00 of the $3000.00, but we had to pay the difference.