Consumer complaint received 2019-11-11
Company: Movement Mortgage LLC
State: GA
Product: Mortgage
Sub-product: FHA mortgage
Issue: Closing on a mortgage

Complaint:
Written Complaint to Lender Attention Customer Service : Subject : Loan Number Name : XXXX XXXX XXXX XXXX Property Address : XXXX XXXX XXXX, XXXX, GA, XXXX This is a qualified written request under Section 6 of the Real Estate Settlement Procedures Act ( RESPA ).

I am writing because : RESPA requires lenders, mortgage brokers, or servicer of home loans to disclose to borrowers any information about the real estate transaction. The information disclosure should include settlement services, relevant consumer protection laws, and any other information connected to the cost of the real estate settlement process. Business relationships between closing service providers and other parties connected to the settlement process should also be disclosed to the borrower. My realtor, and I called, texted, and emailed to Mr. XXXX XXXX, who is a senior mortgage loan officer - NMLS : XXXX at Movement Mortgage , LLC - XXXX XXXX  XXXX XXXX, XXXX XXXX, XXXX XXXX, SC, XXXX. However, he did not disclose the correct information about my loan and the real estate transaction. Moreover, he ignored and avoided contact or followed up to us. As a result, I lost {$2400.00} which to included {$1000.00} for earnest money, {$1000.00} for appraisal, {$350.00} for home inspection, and {$75.00} for application. Also, my realtor, seller, seller listing agent, and my family are lost our valuable time because he did not disclose the information about the loan. 
On XXXX XXXX - 2019, I put an offer on the property address : XXXX XXXX XXXX, XXXX , GA, XXXX. Mr XXXX emailed, and texted us the Pre Approval Letter at the same day. My offer was accepted at the same day. 
On XXXX - XXXX - 2019, Mr. XXXX emailed and texted me the Initial Disclosures. 
On XXXX - XXXX - 2019, I texted to Mr. XXXX about my loan status. He informed me that I think we are going to be ok!! 
From XXXX - XXXX to XXXX - XXXX - 2019, I texted to Mr. XXXX about my loan status. He never reply. 
On XXXX - XXXX -2019 at XXXX XXXX, I got an email about updated disclosures to electronically sign and request new appraisal on my property in Texas. I called Mr. XXXX the same day to ask about this email. He told me that they need to do appraisal for my property in Texas  in order to use the rental income. He did not explain more. 
On XXXX - XXXX XXXX at XXXX XXXX, I got an email from XXXX XXXX at Movement Mortgage stated that Unfortunately, your loan does not qualify at this time. If you should have any questions please feel free to contact your loan officer directly. Thank you. Sincerely, XXXX XXXX. At XXXX XXXX  the same day, Mr. XXXX sent me another email stated Disregard! All this means is that I have to red is close the loan once the rental property appraisal comes in. I called Mr. XXXX and Mrs. XXXX XXXX who is his assistant, to find out the situation. However, I did not get any answer and explanation from Mr. XXXX, and Mrs. XXXX XXXX. 
On XXXX - XXXX - 2019, Mr. XXXX sent an email to my realtor and me and stated Appraisal will be back tomorrow on the XXXX   property. I will be able to get a better timeline for closing once I have that appraisal. 
On XXXX - XXXX -2019, I contacted to Mr. XXXX XXXX who is Brand Manager and Sale Manger at Movement Mortgage. Mr. XXXX explained about FHA rules and my loan was denied due to the ratios. 
I bought a new property in XXXX XXXX on XXXX - 2019. Mr. XXXX knew that. 
I called and asked Mr. XXXX that why do we need to do the appraisal for my property in Texas?. He answered This is the part of process, so we can use the rental income. 
I believe Mr. XXXX - the loan officer - should explain to me about the FHA regulation before ordered the appraisal my property in Texas. However, Mr. XXXX did not explain about the FHA requires that the mortgage balance is 75 % of that value in order to use the rental income.

My realtor and I tried to text and called Mr. XXXX to ask him to explain more about the new appraisal. He never replied. 



I understand that under Section 6 of RESPA you are required to acknowledge my request within 20 business days and must try to resolve the issue within 60 business days.

Very Respectfully, XXXX XXXX XXXX XXXX XXXX/USA

Company response to consumer: Closed with explanation