Consumer complaint received 2023-12-05
Company: SELECT PORTFOLIO SERVICING, INC.
State: NV
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process
Sub-issue: Private mortgage insurance (PMI)

Complaint:
This is my third complaint against Select Portfolio Servicing in 4 months. 

On XX/XX/XXXX I formally requested the removal of the PMI from my mortgage ( {$290.00} ). After many hurdles and a complaint to the CFPB-the appraisal for my home ( interior and exterior ) was completed on XX/XX/XXXX On XX/XX/XXXX I contacted SPS to find out what was going on with my request to remove the PMI. I was told at that time that the notes in the system stated it was approved. However I needed to wait for a letter to be sent to me. 
I waited.. I called again on XX/XX/XXXX and again asked for an update and again was told that the notes in the system stated that my request to remove the PMI from my mortgage had been approved and was " being processed ''. I asked what " being processed '' meant and was told that they had to go back to when I had originally requested the PMI removal and issue a refund for the PMI payments that were made. 

Again I waited... I checked my account often and did not see a decrease in my mortgage or a letter indicating the approval on my PMI removal On XX/XX/XXXX I accessed my online SPS account and saw a letter had been generated. This letter stated that my " account is currently not eligible for mortgage insurance removal due to being either 30 days or more delinquent in the past 12 months or 60 days delinquent in the past 24 months ''. 

This contradicts SPS ' response to my CFPB complaint filed in XXXX regarding PMI removal and not meeting payment eligibility. In their response dated XX/XX/XXXX it states that " Therefore the account has been more than 60 days past due in the last 24 months. However, assuming all other conditions are met, this requirement can be waived because the account was in a Covid-19 Assistance Plan during that period ''. 

I would assume that the other conditions that are referenced in their response would be my loan to value based on the appraisal that was done. Since there is no mention that we are over XXXX based on the appraisal I am again assuming this condition was also met. 

I am not sure what transpired at SPS and why on XX/XX/XXXX it was noted in their system that the PMI removal request had been approved and then on XX/XX/XXXX they decided I was not eligible. 

I want the PMI to removed effective immediately and the PMI of {$290.00} to be refunded to me as stated it would be by their customer service agent on XX/XX/XXXX. They have already stated that the payment requirements would be waived due to being protected under the CARES Act/Covid-19 Assistance Plan and now they have gone back on their word. 

I have provided their response on XX/XX/XXXX from my complaint filed with CFPB on XX/XX/XXXX. I have also provided the letter they issued me on XX/XX/XXXX stating that my account was not eligible due to past due payments.. 

In an attempt to resolve the matter on my own, I did call SPS today ( XX/XX/XXXX ) to no avail and I did email the VP of SPS, XXXX XXXX, on XXXX ( no response to even acknowledge he received the email )

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation