Stay as far away from McFarland -Movement Mortgage con artists as you can.
My wife and I decided to purchase a house.
Long backstory summed up: we owned a fixer upper that we grew tired of fixing.
Our family was getting bigger than the house could reasonably accommodate.
We contacted movement mortgage about obtaining a loan.
We provided every bit of information they requested, well before we decided to put a loan application in.
After extensively answering questions about credit history, employment history, our favorite colors…you get the point, we were told by our mortgage loan officer, Shea Patton, that we had a good chance of approval.
My wife and I decided to go through with the application. We received (in email) a TBD approved letter.
We didn’t know what that meant at the time, so we looked it up and asked some of our banker contacts. Apparently, a TBD approval was the best approval we could get.
Our Movement Mortgage (MM) loan officer, Shea Patton (MLO) told us the underwriting had already looked over the file and approved it.
Now, it is important to say that my wife and I had never been through bank lending before. Our current home was an owner finance situation.
One condition of our loan was that we had to sell our house…which we did.
The proceeds of that sale went from one title company to the next.
We we’re scheduled to close two days after we sold our current home.
Less than 24 hours before we were to sign paperwork on our new home, we received a call from our MLO stating that underwriting wasn’t going to approve our loan.
Mind you, this was after the close of the business day…so our proceeds from the sale of our home we’re locked up in escrow until the following day.
We had no place to go. We didn’t have any contingency plan because our MLO personally guaranteed our approval to our real estate agent, the listing agent, us, and the sellers of the house.
Needless to say, we were homeless with no where to go.
We couldn’t even get a room to rent for the night. Due to MM’s negligence, we we’re out over $5000 in unnecessary expenses.
Our four children were without a home for a week. What did MM do to correct their error? Not a damned thing. “Why don’t you sue?”
The amount of money and time it would take to recoup our losses wouldn’t justify theprocess.
So…STAY AWAY FROM MOVEMENT MORTGAGE.