Consumer complaint received 2015-11-06
Company: NATIONSTAR MORTGAGE LLC
State: TX
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
11/6/15Nationstar Research Reference # XXXXXXXXNationstar Loan # XXXXGood Afternoon XXXX Service Personnel, My Private Mortgage Insurance removal process with Nationstar mortgage began on XXXX XXXX, 2015 when I faxed over the necessary forms to start the removal process. Two weeks later the Escrow & Insurance arm of Nationstar called me to discuss the process and ensure I met the criteria before moving forward. The criteria for PMI removal consisted of being up-to-date on all payments with no late fees or penalties as well as having been in the home for 2 years along with a Loan-to-value ratio of 80 %. I met all the criteria and was within 2 months of being at my home for 2 years. Since the process takes over 3 months to finalize there was no worry of the two year time frame. As far as the value was concerned we needed an appraisal to ensure an 80 % LTV. Based on my recent city of XXXX, TX tax appraisal I was sure I would be at 80 % or below. On XXXX XXXX, 2015 an approved and required Nationstar appraisal was completed, at my expense. The tax appraisal came in at {$300000.00} and Nationstar 's appraisal came in at {$300000.00}. Regardless of which value we use my LTV was below 80 % which Nationstar acknowledges 100 %. Now the fun apart, apparently Nationstar forgot to tell me it was 75 % not 80 % LTV for PMI removal. If this very important fact was not left out I would never have started this process. 

As such, Nationstar and I have been going back and forth since XXXX, 2015 with no resolution in sight. The hardest part is getting someone on the phone who can understand this since they keep telling me its 80 % LTV and I should not have PMI but then I get a letter or email telling me its 75 % LTV. It 's very difficult to get senior people on the phone that understand and can assist. Every time I call I get a new person who has to get back to me because they do n't know what 's going on. 

Naturally, Nationstar disputes their customer service associates are uninformed and believes I am incorrect because they state they have no records of this. As such, I decided to test their allegation that there is no record. On XXXX XXXX, 2015 I made XXXX phone calls to their customer service hotline at XXXX XXXX XXXX XXXX. The first one was at XXXX C.S.T. and I spoke with XXXX and second one was at XXXX C.S.T. and I spoke with XXXX. Both were very professional and polite and I asked them both about my PMI removal and LTV requirements and received XXXX different answers. XXXX advised me it was 75 % LTV for PMI removal and XXXX advised me it was 80 %. I asked both to double check and they both did. How can this be? How can XXXX different customer service reps looking at the same account come up with XXXX different PMI removal LTV ratios? As you can see, Nationstar needs to ensure its customer service division is better trained since consumers rely on this data to make very big financial decisions. I can also run this experiment again and again and I 'm sure I will get XXXX different answers each time. 


Lastly, I still want to work with Nationstar and keep them as my mortgage company but I do want them to remove my PMI as a token of goodwill. I remain a good, loyal and timely paying client who only wants what 's rightfully his based on the information I received from Nationstar. 

I come to you as my last option ; no one else is willing to help me. Not the mortgage company or their customer service division or the XXXX. If there is anything you can to do assist please do. Thank you in advance! 


Thank You, XXXX XXXX XXXX XXXXXXXXXXXX

Company response to consumer: Closed with explanation