Consumer complaint received 2023-07-06
Company: SERVICEMAC, LLC
State: UT
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX. 
XXXX UT, XXXX XXXX XXXX XX/XX/XXXX Subject : Complaint regarding loan servicing and PMI removal Dear Consumer Financial Protection Bureau, I am writing to file a formal complaint against my loan servicer, Service MAC, regarding their failure to acknowledge and process my request for private mortgage insurance ( PMI ) removal based on the most recent appraisal of my property. The loan was previously serviced by XXXX XXXX XXXX, and the transition to Service MAC has resulted in a lack of proper documentation transfer. 

To provide a clear overview of the issue, I would like to present the chronology of events as follows : On the date XX/XX/XXXX, while my loan was being serviced by XXXX XXXX XXXX, I paid for a broker 's price opinion ( BPO ) and had my home appraised in order to fulfill the requirements for PMI removal. 

XXXX XXXX XXXX  assured me that they would forward all relevant documentation, including the BPO payment record and the new appraisal, to Service MAC, the new loan servicer.

However, upon contacting Service MAC regarding the PMI removal process and submitting the most recent appraisal, I discovered that they had not received the necessary documents from XXXX XXXX XXXX. Specifically, they did not have a record of the payment for the BPO or the new appraisal. 

I promptly provided Service MAC with the documents for the most recent appraisal, which were completed by a licensed professional and are valid as indicated by the expiration date, which has not passed.

Unfortunately, Service MAC informed me that they can not accept the provided appraisal because they do not have record of the BPO payment and that the appraisal must be submitted through a different method that is not accessible via their web portal.

I kindly request the Consumer Financial Protection Bureau to investigate this matter and take the necessary steps to ensure that Service MAC processes my request appropriately. I also request that the Bureau addresses the following issues : The failure of XXXX XXXX XXXX to transmit the complete documentation, including the payment record for the BPO and the new appraisal, to Service MAC during the loan servicing transfer process.

The lack of a suitable method for submitting the appraisal through Service MAC 's web portal, as indicated by their refusal to accept the provided appraisal.

The improper handling of my request for PMI removal, disregarding the validity of the most recent appraisal and failing to consider it as a basis for removing PMI from my loan.

I have attached copies of all relevant documentation, while I am having difficulty retrieving my statements showing the payment I have included the most recent appraisal, and any communication exchanged with Service MAC. Please let me know if you require any additional information to facilitate the investigation of this matter. 

I appreciate your attention to this complaint and trust that the Consumer Financial Protection Bureau will take the necessary actions to rectify the situation. I look forward to a prompt resolution and a fair resolution to my request for PMI removal. 

Thank you for your assistance. 

Sincerely, XXXX XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation