We have been trying well over a year to cancel the PMI on our house. We bought a foreclosure, and our LTV qualifies us for not being able to pay this in the first place.
My first email to this dreadful excuse of a mortgage company was back on 1/6/16, and my request was ignored. I emailed AGAIN on 11/9/16. I didn’t hear back until 11/21/16 and was requested to email a list of the updates we have done on the house since we moved in. I followed up on 11/28/16 after I received no response, and again on 11/29/16.
We did not hear back until 12/2/16 asking us to send in a check for $475 (way too much money for an appraisal but that’s beside the point). 12/15/16 I followed up with yet another email as I hadn’t heard if they had received my check, and when the appraisal was to be scheduled. I called into the customer service line after our appraisal had been completed to see what our next steps were. They would not provide me with a number for the PMI department and told me to email them again so 12/24/16 I followed up yet again, after almost a week goes by since our appraisal was conducted with an email.
12/27/16 we FINALLY received notification that we will have PMI removed, and I quote from the email “Please be advised you have met the required 75.0% for PMI cancellation. Your loan is being submitted to management for approval. Once PMI is cancelled you will receive a letter regarding the removal of PMI shortly following”. 1/1/17 payment, we were billed for PMI.
I hadn’t heard back on removal of the PMI from our monthly payment so I emailed again on 1/7/17 and got their standard “We have received your request and will begin our initial analysis of your loan within 3-5 business days.” I still have not heard back so I emailed again on 1/11/17 as my payment for 2/1/17 comes out tomorrow and PMI is still on there. I have never met a company that cares so little about its customers. I have literally been fight.
On 1/11/17 I finally received notification that they were canceling the PMI however instead of canceling it effective of the previous month, they still charged me for $55 for this month. I have yet to hear back on my request for them to refund me.
Product or Service Mentioned: Cenlar Loan.
Reason of review: Poor customer service.