Consumer complaint received 2017-05-02
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: Movement Mortgage LLC (VA)

During the beginning stages of getting a mortgage, with  Movement  Mortgage with  XXXX   XXXX  as our loan officer, we were provided and signed a Loan Estimate on  XXXX / XXXX /  XXXX   that listed a Cash-To-Close amount of {$17000.00}. It listed a {$7700.00} credit under the "  Adjustments and Other Credits Line ''.   My husband and I were under the impression this was for completion of a  XXXX  online course for  First Time Home Buyers. I  had a phone call with  XXXX  on  XXXX / XXXX /  XXXX   regarding a few items needed for underwriting. During this phone call we spoke of the Gift Letter he needed and I explained to him I was n't sure how to handle the check as the check  (  {$18000.00} )  was more than what we needed to bring to closing. He told me that it would be best to not have the funds wired over at closing because then they would roll all the funds into the deal and that is n't what I wanted. I processed the gift check as instructed knowing the gift was more than what we needed for closing. Once the gift check cleared and all images were provided for underwriting  XXXX  said that was all he needed. On Friday  XXXX   XXXX ,   XXXX   around  XXXX  I received an e-mail to e-sign the closing disclosure and documents that would start the  3-day cl ock for closing. As I was reviewing the closing disclosure I noticed that the  Cash-to-Close a mount jumped to {$24000.00}. I immediately reached out to  XXXX  to ask why the amount jumped. After searching through the Closing Disclosure I saw that the {$7700.00} credit was missing. The disclosure said to look in sections  K & L.  Both of these sections were blank. I e-mailed  XXXX  to tell him that I had located the difference and could he please explain what had happened. He responded only to say it was a mistake. I called him and he told me first that it was a software glitch. I asked him to provide me the full set of documents that I had signed on  XXXX / XXXX /  XXXX  . He told me he did not have them and he would need to put in a research request and that my husband and I should sign the Closing Disclosure so that we could keep the same closing date. He then put me on hold to reach out to a back-office person and then got back on the phone to say there was n't anything he could do until Monday because it was almost  XXXX . I said OK. He told me to have my husband sign the documents to keep the ball rolling. We did not feel comfortable doing so and reached out to  XXXX   XXXX , our agent. She advised that the difference between th e Loan Estimate  and the Closing Disclosure could not be higher than 10 %. She called  XXXX  and tried to get a straight answer but could not. She advised us not to sign the Closing Disclosure until we got more information about the {$7700.00} credit. We received several e-mails the evening of  XXXX  from  XXXX  asking us to sign the document. Our agent then replied that we were still needing them to acknowledge the {$7700.00} difference. Monday  XXXX / XXXX /  XXXX   we did not hear anything from  XXXX . I reached out to our agent mid-afternoon to find out what was going on. She was told by  XXXX  that we should expect a new Closing Disclosure that evening. He called her back later that day to say that he had sent our loan documents over to his compliance department for review. We did not receive a Closing Disclosure as promised on Monday  XXXX . Tuesday  XXXX / XXXX /  XXXX   we received an e-mail from  XXXX  telling us that because the {$7700.00} credit was not listed as  Lender Credit  there was nothing we should do and we should sign the Closing Disclosure from  XXXX / XXXX /  XXXX   if we wanted to close this week. I reached out to our agent immediately to see what our options were. Our agent reached out to  XXXX  's  Territory and Area Manager 's t o attempt and figure out how they would correct their mistake. They were able to determine that  XXXX  had put in the {$7700.00} credit for a different program that would create a second mortgage for us - this is an option that we did not want.     As of right now - we are trying to figure out how much we need to bring to closing and what/why the error went unnoticed for so long with out being acknowledged by the  Lender,   XXXX . When the Closing Disclosure was sent over there was never even an acknowledgement that there was a discrepancy. He did not issue a new  Loan Estimate  once he realized the mistake or even offer an explanation as to what the credit might be.