Movement Mortgage Mortgage Complaint

Movement Mortgage Mortgage department,

Conventional fixed mortgage Settlement process and costs Tennessee

On our initial meeting with Movement Mortgage on -/-/2016, they presented their closing cost estimate and our interest rate of 3.75 %. They noted that because my wife is employed by - that we would receive a $2000.00 credit towards closing. They wrote this on our paperwork they gave us which is clearly visible on the attachment, and - also shows this credit on their employee discount webpage which we have enclosed as well. Fast forward 1 month and we find out our expected closing date of -/-/2016 has been pushed back to -/-/2016. We decide to let our rate lock expire and we will relock 60 days out around -/-/2016. On -/-/2016 we relock in at 3.75 % for 60 days which will give us a few days of cushion beyond -/-/2016 closing date in case anything happens and we dont close on time. On -/-/2016 when we are supposed to get our closing disclosure to meet the 3 day obligation, we hear from Movement that our rate and our product are no longer available. They claim because the Fed increased the rates that our interest rate had increased as well and there was nothing else they could do.


office where we present our attached timeline and letter. Within a couple of hours, the corporate boss calls us back and says they will honor our 3.75 % rate. We go to close on the -/-/2016 but we do not see our original $2000.00 closing credit. 2 weeks later after moving and settling in, we email and call the local big boss about the credit. He does not respond to the email and is rude to my wife saying they had already done enough on getting us a great deal that we were not entitled to since our product did not exist anymore. It is our belief that the loan officer was negligent in locking in our rate at 3.75 % on -/-/2016 despite our repeated attempts for confirmation and her each time saying it was locked. We believe she, along with her boss and his boss all conspired to cover up this mistake by saying our product no longer existed and that we were stuck with the new higher rate, take it or leave it. We believe they fully agreed to our closing cost estimate and that it is not our fault they made a mistake and are trying to minimize their losses by eliminating the closing credit.