Consumer complaint received 2016-10-06
Product: Mortgage — FHA mortgage
Issue: Settlement process and costs — 
Company: Movement Mortgage LLC (NJ)

I was pursuing an FHA loan with Movement Mortgage. Over the course of the last 2 months, they have consistently asked for a plethora of information which I have submitted as every request. Toward the tail end of everything, they advised that I could n't use certain funds acquired for closing due to the source of the funds. My loan officer indicated that I would need to get a gift from a family member to cover closing costs, which was fine. I asked for the total cost of closing, and I was advised of the total. I obtained a gift from my uncle to cover the cost of closing. The next day, I was advised by one of the loan processors that I needed an additional {$2400.00} because they did n't factor in my first month 's mortgage payment. So, on very short notice, I was able to secure a gift from my sister to cover the amount. In addition to the gifts, I was advised that I needed signed gift letters, copies of the checks, bank account statements from both family members sourcing the funds and showing the monies cleared in their accounts, along with my updated bank account statement showing the money was deposited. I complied and provided all of this information. My closing date was set for XX/XX/2016 as per my contract with the seller. I was in constant communication with at least XXXX loan officers from the company on an almost daily basis during the duration of the process and more frequently, as much as multiple times a day, as we got closer to closing. All the while, I was advised that I was in good shape to close and all paperwork was a go. On XX/XX/2016, I signed my consumer disclosure and I was advised, we were good to go for closing on XX/XX/XXXX. Then on the afternoon of XX/XX/2016, the Friday before I was set to close, I was told that underwriting would not approve the closing due to XXXX additional conditions that I had to fulfill. Herein lies the problems - at least 90 % of the conditions listed, I had already fulfilled and provided the requested documentation for those conditions weeks ago - some of them multiple times. I later learned that one of the processors dropped the ball and was not submitting my info to the underwriters. In addition, new conditions were included that I was never made aware of in any prior correspondence and was never brought to my attention before then. On Monday morning, I sent all documentation, yet again, for the conditions. I spoke to my loan officer XX/XX/2016 and was advised that the closing amount provided was inaccurate and I was {$3100.00} short. He stated this was due to the fact that underwriting was not going to allow me to use the earnest money deposit I paid because they could not source the funds and that they also would not count the {$1200.00} I used to pay for my home owner 's insurance because of the same reason. This is pertinent info that I believe I should have been told in advance, like the week prior to closing when we were going back and forth trying to make sure all documents were complete. They completely failed to take into account the fact that I work full time and get bi-weekly deposits of {$2100.00} into my account. I have provided updated bank statements but I 'm still awaiting to hear if underwriting will even accept them. This company has been completely careless and lackadaisical with my account. My closing is extremely time sensitive because there are significant repairs that must be done on the home, as I 'm also getting a XXXX loan. In addition, my current lease ends on XX/XX/XXXX, so the contractors need to get into the house early enough to do the work so that we are able to move in by XX/XX/XXXX. As it stands, my closing will likely not even happen because I only have an extension from the seller for this Friday, XX/XX/XXXX and no more extensions will be granted after this date. Due to this last minute notice about costs, I am now unable to attain an additional gift to cover the outstanding amount required to close.