Product: Mortgage

In XX/XX/2020, I applied for a mortgage with Movement Mortgage. From the beginning of the mortgage process, I made it clear that I wanted to apply for the Mortgage Credit Certificate Program ( MCC ). Exhibit A shows an email conversation in which the documents are mentioned, and I ask for confirmation. I am dismissed and told " We will submit the required paperwork and it should be approved with no problem. '' We went to closing, and I was under the impression that all was well. On XX/XX/2020, the mortgage broker, XXXX XXXX, contacted me ( Exhibit B, page 5 )  mentioned they noticed a document had been missed at closing and asked that I get the document signed no notarized. There was no mention of the document 's purpose or the time frame in which it needed to executed. I received no response regarding the document 's processing. On XX/XX/2020, I received two checks in the mail from Movement Mortgage with no correspondence aside from a notation on the check slip that said " MCC Refund. '' I contacted my mortgage broker asking why I had received the checks and questioning the status of my MCC tax credit ( Exhibit C ). I was asked to call him and then informed that my MCC tax credit had not been processed due to an error in the paperwork. The mortgage broker gave me contact information for his manger and told me, " off the record, '' that I should throw around threats to sue. I then had a useless email and telephone exchange with XXXX XXXX, the regional manager ( Exhibit D ). I was then put in touch with XXXX XXXX, the vice president of client solutions. I was told he would need to complete an audit to determine what happened and would get back to me. I explained that at this point I had already spoken with the DE Housing Authority and had been informed that an appeal was not possible. The DE Housing Authority also informed me that they had notified the company and provided a grace period to submit the necessary documents. Mortgage Movement had never informed me of this issue. I only learned of the error after I called to ask whey I had received checks without explanation. I told XXXX I found the lack of transparency and communication unforgivable. XXXX told me to deposit the checks, but I only did so after putting in writing that my acceptance of the refund checks in no way expressed any satisfaction or agreement to anything on my part. After his audit, I presume he found the company to be at fault, XXXX offered a no cost to me refinance. I expressed my concern about doing continued business with such the company and asked that the company research the possibility of an appeal ( Exhibit E ). I also want to mention that XXXX repeatedly urged me to sign the refinance offer and even generated the paperwork without my consent despite the fact that I stated my preference was an appeal and I wanted my accountant to review the offer. I felt very pressured to sign the refinance. XXXX kept telling me to sign to lock the rate and I could back out later. I found that advise to be irresponsible and stressful. The company 's attorney, XXXX XXXX, informed me that an appeal was not possible. On a call with XXXX, I expressed my concern regarding doing business with the company and my hesitation to have an appraiser come into my home during the pandemic. I also mentioned that I found it odd that another appraisal was necessary for the refinance since we had just completed one for the initial closing in XXXX. At this point, XXXX asked me to put my demand in writing ( Exhibit F ). Per his request, I put my demand in writing. In my demand I outlined the issue and pointed out that the savings provided by the refinance they offered did not equal my loss. Since the error was completely on the part of the company, I requested the total amount of my loss ( Exhibit G ). With my demand letter, I attached the calculations completed by accountant, XXXX XXXX, a certified public accountant and CFO. He demonstrated the savings I would receive with the refinance offer and the savings I was eligible for through the MCC. He based his calculations on the thirty year life of the loan ( Exhibit H ). I also want to state that I was open to payment options that would have mimicked the benefit of the MCC, but the company did not even offer to consider any such options. The company responded to my demand letter with a call from their attorney. XXXX informed me that my demand was unrealistic for two reasons : 1. The 30 year life of the loan would likely not be reached, due to a sale or refinance and 2. I had a  responsibility to mitigate my damages. At this point, I felt totally dismissed by the company and began to research my options. I contacted the DE Housing authority to confirm that there was truly no appeal process and to obtain their timeline of my application 's processing ( Exhibit I ). On XX/XX/2020, I submitted a second demand letter ( Exhibit J ) addressing XXXX 's points regrading my first demand letter. I thoroughly addressed the totally hypothetical concerns she raised about the thirty year life of the loan not being reached, and I pointed out that with the MCC and my current interest rate, I would need an extremely low interest rate to make a refinance desirable. Again, my accountant ran a scenario to demonstrate what interest rate I would need to refinance at in order to achieve a better savings than my current rate and the MMC ( Exhibit K ). On XX/XX/2020, I filed a complaint with the DE State Bank Commissioner. On XX/XX/2020, I received the company 's response to my second demand letter. I was told my calculations were purely speculative and that the offer to refinance was still available ( Exhibit M ). I responded to their letter with an email outlining my disagreement with their position and decided to file this complaint ( Exhibit N. )