Company Directory - Movement Mortgage
Company Details - Movement Mortgage
Movement Mortgage
WebsiteMovement Mortgage is a mortgage lender that specializes in offering various home loan products and solutions to help customers achieve home ownership. They focus on delivering a superior customer experience and aim to provide innovative financing options.
CCI Score
CCI Score: Movement Mortgage
-28.05
0.12%
Latest Event
Settlement for Fair Housing Violations
Movement Mortgage agreed to pay $75,000 to settle allegations of racial discrimination and redlining practices identified by undercover testers from the National Community Reinvestment Coalition. As part of the settlement, the company will implement additional fair lending training and host an event aimed at increasing minority homeownership, though the underlying discriminatory practices remain a serious concern.
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ACCOMPLICE
Movement Mortgage is currently rated as an Accomplice.
Latest Events
- OCT012023
Movement Mortgage agreed to pay $75,000 to settle allegations of racial discrimination and redlining practices identified by undercover testers from the National Community Reinvestment Coalition. As part of the settlement, the company will implement additional fair lending training and host an event aimed at increasing minority homeownership, though the underlying discriminatory practices remain a serious concern.
-60
Labor Relations and Human Rights Practices
April 1
The allegations and settlement reveal that Movement Mortgage's practices included discriminatory lending, with evidence of minority applicants being steered toward less favorable financing options and a pattern consistent with redlining. Although the company has initiated remedial measures, such as enhanced fair lending training and community events, these do not fully mitigate the severity of the violation from a human rights and ethical business standpoint.
HUD dings Movement Mortgage for alleged fair housing violations
- JUN302023
Movement Mortgage settled a $23.75 million false claims case with the Justice Department over allegations of failing to meet FHA and VA underwriting requirements, following whistleblower allegations of systemic errors. The case highlighted significant shortcomings in the company's internal controls and quality assurance practices for government-guaranteed loans.
-60
Business Practices and Ethical Responsibility
April 1
The settlement underscores serious ethical lapses in Movement Mortgage's underwriting and quality control practices. By engaging in actions that led to violations of the False Claims Act, the company undermined public trust and misused taxpayer-funded government loan programs, reflecting problematic business practices.
- JUN302023
Movement Mortgage agreed to pay approximately $24M to settle a whistleblower lawsuit alleging that it improperly originated and underwrote government-insured loans under FHA and VA programs. The case, which alleged widespread underwriting errors and false certifications dating back as far as 2008, raises serious questions about the firm’s internal controls and ethical business practices.
-65
Business Practices and Ethical Responsibility
April 1
Movement Mortgage’s settlement over allegations of fraudulent underwriting practices and false certifications indicates significant ethical lapses in its business practices. These practices not only undermined the integrity of government-insured loan programs but also potentially harmed taxpayers by submitting ineligible loans. The corrective action via settlement does little to erase the impact of the misconduct.
Movement to pay $24M to settle underwriting government loans fraud case
- JUN302023
Movement Mortgage agreed to pay $23.7 million to settle allegations of false claims submissions related to FHA and VA loan programs after a whistleblower lawsuit by former employees. The settlement acknowledges past internal control failures while noting remedial measures taken by the lender.
+5
Public and Political Behavior
April 1
The company was described as more cooperative and transparent with federal authorities than many of its peers, which indicates a modest level of accountability in its public and political engagement. However, this positive aspect is largely overshadowed by its earlier unethical practices.
Movement Mortgage settles fed case after whistleblower claims
-70
Business Practices and Ethical Responsibility
April 1
Movement Mortgage falsely certified loans that did not comply with federal standards for FHA and VA programs, compromising the integrity of these programs that protect vulnerable borrowers. The $23.7M settlement, despite remedial actions to strengthen internal controls, underscores a serious breach of ethical business practices.
Movement Mortgage settles fed case after whistleblower claims
- JUN292023
Movement Mortgage agreed to pay $23.75 million to settle allegations that it falsely certified FHA and VA loans, failing to follow federal underwriting and self-reporting guidelines. The settlement came after a federal investigation and whistleblower lawsuit highlighted systemic issues in the company's quality control processes.
-40
Business Practices and Ethical Responsibility
April 1
The settlement stems from Movement Mortgage's admission of certifying a material percentage of loans that did not meet the FHA/VA requirements, revealing serious lapses in ethical business practices and internal controls. This violation of federal guidelines demonstrates a failure in upholding responsible business practices, thereby negatively impacting the company's ethical standing.
Movement Mortgage To Pay $23.75M To Settle False Claims Act Probe – NMP
- JUN292023
Movement Mortgage, LLC agreed to pay $23.75 million to the United States to resolve allegations of violating the False Claims Act by falsely certifying compliance with FHA and VA mortgage program requirements. The settlement follows an investigation triggered by a whistleblower lawsuit and highlights significant failures in internal control and compliance processes.
-75
Business Practices and Ethical Responsibility
April 1
The settlement reveals serious breaches in ethical business practices, as Movement Mortgage admitted to misrepresenting compliance with HUD and VA requirements by submitting false claims. This misuse of taxpayer-backed mortgage programs undermines public trust and the integrity of regulatory frameworks, marking it as a significant ethical lapse despite remedial actions taken thereafter.
- JUN302022
A little over a year ago, Movement Mortgage resolved claims of racial discrimination and disparate treatment by allocating $75,000 to organizations working toward equitable housing solutions, marking an effort to address past bias and support marginalized communities.
+30
Business Practices and Ethical Responsibility
April 1
The allocation of funds to support equitable housing in response to racial discrimination claims represents a remedial measure aimed at addressing systemic inequities. Although modest in amount, this action signals a commitment to improving corporate practices and supporting marginalized communities.
- JUN032022
Movement Mortgage resolved claims of racial discrimination and disparate treatment by paying $65,000 to the National Community Reinvestment Coalition and donating $10,000 to a local nonprofit, in addition to committing to further fair-lending training and hosting an event to boost Black homeownership.
+35
Labor Relations and Human Rights Practices
April 1
Movement Mortgage’s settlement of racial discrimination claims, commitment to increased fair-lending training, and initiatives to support Black homeownership indicate a corrective effort towards addressing discriminatory practices. Although the incident reveals past disparities in treatment, the remedial actions and investment in community and employee education are a positive step against systemic bias and contribute to fair housing practices.
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