Consumer complaint received 2023-01-03
Company: Guild Mortgage Company LLC
State: WA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
SEE BELOW ***Part XXXX cancel my pmi premiums immediately. " XXXX percent of the original value '',... 
XXXX XXXX XXXX formally requests the CFPB to immediately move to enforce the XXXX... 
... 
START HERE!!! 
.... 
***Part XXXX Previous Guild Mortgage response to complaint # XXXX was inappropriate. 
Filed XX/XX/XXXX, Guild Mortgage in a generic ( dated XX/XX/XXXX ), reckless, irresponsible process in dozens of direct protocol violation of Federal and State law regarding my MI premium cancellation requests and automatic termination law. 
Guild failed to return XXXX unearned. 
Guild failed to provide any copies of properly formatted response letters to each request. Now listed below.

Guild is stalling forcing further legal action.

Guild is consisten with court filings ; ***SUMMARY*** " This was not an oversight, the complaint contends : This action stems from an unjust scheme undertaken by [ Guild ] to maximize profit by failing to notify [ XXXX and XXXX ] about their option to cancel As a result, [ Guild ] collected monthly PMI fees that were unearned, fraudulent, illegal, excessive, repetitive, unfair, deceptive, false, and fictitious by charging them to unsuspecting borrowers accounts. 


***Part XXXX cancel my pmi premiums immediately. " XXXX percent of the original value '', " The automatic termination provisions make no reference to good payment history ( as prescribed in the borrower-requested provisions ), but state only that the borrower must be current on mortgage payments ( XXXX XXXX. XXXX ( b ) ). '' I formally request under XXXX XXXX XXXX, XXXX XXXX automatic termination of XXXX for my loan at no cost to the consumer as required in federal, state law XXXX XXXX XXXX instructions under Major disaster declaration ( XXXX ) & Emergency declaration ( XXXX ). 

***Return of XXXX XXXX " The servicer must return all unearned PMI premiums to the borrower within 45 days after cancellation or termination of PMI coverage. Within 30 days after notification by the servicer of cancellation or termination of PMI coverage, a mortgage insurer must return to the servicer any amount of unearned premiums it is holding to permit the servicer to return such premiums to the borrower ( XXXX XXXX. XXXX ( f ) ). '' ***XXXX XXXX XXXX XXXX XXXX XXXX XXXX Homeowners Protection Act of XXXX ( HPA or PMI Cancellation Act, or Act ) XXXX XXXX XXXX XXXX XXXX OF XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXXXXXX  XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ***Emergency Supplemental Appropriations Act of XXXX XXXX XXXX XXXX formally requests the CFPB to immediately move to enforce the HPA " XXXX also directs the federal banking agencies to XXXX the XXXX under 12 U.S.C. 1818 or any other authority conferred upon the agencies by law. Under HOPA the agencies shall : Notify applicable lenders or servicers of any failure to comply with the Act ; Require the lender or servicer, as applicable, to correct the borrowers account to reflect the date on which PMI should have been canceled or terminated under the Act ; and Require the lender or servicer, as applicable, to return unearned PMI premiums to a borrower who paid premiums after the date on which the borrowers obligation to pay PMI premiums ceased under the Act ( 12 U.S.C. 4909 ). '' XXXX XXXX XXXX failed to provide proof of compliance with laws for each formal request, and the penalties/ return of mips unearned/ and penalties under USC 12 section 8 . 

I request proof copies of original denial letters ( what was sent XX/XX/XXXX and dated XX/XX/XXXX are inconsistent with the state and federal law, innapropriate, and unacceptable ) in accordance with the same codes be scanned and emailed to me, faxed to XXXX, or printed, Copied and mailed to XXXX XXXX, XXXX XXXX XXXX, XXXX, XXXX, WA XXXX for request dates. Emails previously provided to Guild directly and/ or GUILD XXXX this puts Guild on Notice. 

***Basic Disclosure and Notice Requirements Applicable to Residential Mortgage Transactions and Residential Mortgages*** The Act requires the lender in a residential mortgage transaction to provide to the borrower, at the time of consummation, certain disclosures that describe the borrowers rights for PMI cancellation and termination. A borrower XXXX not be charged for any disclosure required by the XXXX. Initial disclosures vary, based upon whether the transaction is a fixed rate mortgage, adjustable rate mortgage or high-risk loan. The XXXX also requires that the borrower be provided with certain annual and other notices concerning PMI cancellation and termination. 

XXXX XX/XX/XXXX, ( XXXX XXXX. XXXX ( XXXX ) ( XXXX ) ) XXXX XXXX XXXXXXXX XX/XX/XXXX - current XXXX XXXX XXXX XXXX  - current XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX not XXXX any payment that is XXXX or more days past due in the last 12 months, or XXXX or more days past due in the last 24 months that is attributable to the disaster event. '' XXXX XX/XX/XXXX, same as above XXXX XX/XX/XXXX, same as above XXXX XX/XX/XXXX, same as above XXXX XX/XX/XXXX, same as above XXXX XX/XX/XXXX, same as above XXXX qualified automatic termination of PMI per federal law, " XXXX percent of the original value '', ( XXXX XXXX. XXXX ( b ) ), ( XXXX XXXX. XXXX ( b ) ), ( XXXX XXXX. XXXX ( b ) ), see part XXXX request XXXX qualified automatic termination of PMI per federal law, see part XXXX request XXXX qualified automatic termination of PMI per federal law, see part XXXX request XXXX qualified automatic termination of PMI per federal law, see part XXXX request XXXX. XX/XX/XXXX qualified automatic termination of PMI per federal law, see part XXXX request ***PART XXXX request a copy of your " written statement '' source material of state or XXXX XXXX stating XXXX emergency declaration ended XX/XX/XXXX, and why that would be cause for denial of Automatic Termination of PMI : " ... XXXX percent of the original value '' XXXX orders of XXXX is currently in effect which directly contradicts your emailed dates and illegal statements. 

XXXX Disaster Declaration in effect XX/XX/XXXX to XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXX/XX/XXXX - and continuing Major Disaster Declaration declared on XX/XX/XXXX ***Emergency Declaration in effect XX/XX/XXXX to current*XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Incident Period : XX/XX/XXXX - and continuing Emergency Declaration declared on XX/XX/XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation