Consumer complaint received 2017-12-07
Company: RoundPoint Mortgage Servicing LLC
State: KY
Product: Mortgage
Sub-product: FHA mortgage
Issue: Trouble during payment process

Complaint:
In XX/XX/XXXX I began the process of requesting the removal of PMI insurance. I was told by a representative in customer service that per their records I already had the required equity in my home, but needed to be 5 years into the loan to remove the PMI, which would be as of XX/XX/XXXX. I asked if it would be ok to go ahead and send the request for review, so that they could prepare / approve the request and remove it as soon as that was possible at the 5 year mark. The service rep said they were not sure it would be processed, but no reason not to try. I could not speak to anyone directly in that department, but there was an email and a fax. This started a long adventure and string of information sent to them. The email address is XXXXXXXXXXXX, and their fax is XXXX. I copied their fax machine electronically sending out each email. I emailed and faxed the request to remove PMI from my loan starting on XX/XX/XXXX. Surely, it seems this could be processed by now. 

Everything is always about what their procedures require ... but they are not reasonable and they are not competent or else they are not honest, at least not in my experience. 

I sent emails and fax requests, with signed requests for the PMI removal, on the following dates : XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, I requested each time that they send me confirmation of receipt via email ; I requested each time that they send me confirmation they would review and process the request ; I requested each time that they email me confirmation once the PMI removal was complete. 

Bottom line, this never happened or I would not be bothering you ... they did have someone call in XX/XX/XXXX or XX/XX/XXXX, saying that the form was not the correct form, but they 'd mail me the form, as the form for the removal of PMI on an FHA loan could not be found online. I never did see those forms, and eventually when I called back in XX/XX/XXXX they did tell me the correct form could now be found online, and each request after that time ( starting XX/XX/XXXX ) was the correct form. 

I was promised last week on XX/XX/XXXX that they 'd send me an email that day or the following day, that the PMI would be removed, and that the removal of PMI would hold with the new servicing company. This week when I called on Tuesday XX/XX/XXXX, they  informed me that request was cancelled / they could not process it, because they did n't have time ... they had sold my loan. The new servicing company, XXXX XXXX,  has a service number of XXXX ... their representative said they did n't have me in the system yet, could not locate my loan, but could by tomorrow. 

I can tell you, unless you tell me you can solve this, I will sue them in small claims court shortly. I also have on file the 22 emails with attachments. I also have several recorded phone calls, some lasting over an hour, where I was promised a return call from a manager or supervisor ( none was ever currently available ). Those return calls never came. 

I expect the new servicing company will give me a similar runaround or a different story. With Roundpoint it was just wait and wait and we 'll deal with the processing when the time comes. The new company will probably have a whole new set of hurdles and procedures, so I feel cheated already. I have wasted clearly many hours of my time and effort with nothing to show for it. Total ripoff.

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