Consumer complaint received 2022-10-24
Company: Guild Mortgage Company LLC
State: WA
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Trouble during payment process

Complaint:
Guild Mortgage Company LLC XXXX XXXX XXXX XXXX XXXX, CA XXXX XXXX, XXXX, XXXX, XXXX, XXXX Fax- XXXX Dear Guild Mortgage, I am having difficulty understanding your position regarding refusing to remove PMI. I am hoping you can resolve this. 

Without spending XXXX $ from now until XX/XX/XXXX, ( i paid through XX/XX/XXXX ) I have met every condition you have set for automatic termination/ cancellation of PMI per your description and my understanding of your " XX/XX/XXXX rule, no matter what ''. So 3 months has no financial impact on my request by Guilds standard to remove PMI. Just as 3 months has no impact on my credit report per Guild 's website, let alone 1-2 months. ( Natural disasters ) According to XXXX XXXX XXXXXXXX Guide p.205, " the servicer must not consider any payment that is 30 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. '' Even while I contacted Guild regularly and paid to bring current within a couple months, after a natural disaster, savings depletion, and repayment agreement with multiple people in your office that I fulfilled. ( Confirmation # 's XXXX, XXXX, XXXX ) and Guild " identified '' the affected accounts automatically. This appears clear and straight forward. 

Going back further, requests were made as early as XX/XX/XXXX as home values increased. Getting written approval from Guild Servicing Agent to proceed and then, complete ignorance from Guild for years, as I repeatedly requested removal per law, 12 U.S.C and XXXX XXXX guidelines as they own my loan. 

35 months later and I feel Guild is still fighting for this small amount of money, that to my wife and I who are both XXXX and have fixed incomes this is one piece in the cog. Insurance companies have better service that Guild in my experience. We are completely frustrated. 

This is my final attempt before exercising each & every Federal/ state resources listed within/ including Homeowners Protection Act ( MI cancellation act ), Consumer Financial Protection Act of XXXX, etc. 

1.Please cancel PMI immediately on loan, next payment due XX/XX/XXXX. LTV {$120000.00} / 75 % = {$160000.00} ( zestimate {$300000.00} ). 

2.Please refund 24 months ( {$4000.00} ) of overpaid/ unearned premiums, late fees ( keep them ) minus any fees allowed by law. 
35 MIPs to Guild Mortgage at $ XXXX month XX/XX/XXXX to XX/XX/XXXX = {$6000.00} plus late fees improperly assessed. 

3.Correct credit reporting. If any =<90 days were reported. 

4.Please send written notices to satisfy XXXX XXXX XXXX XXXX State, and Guild laws, requirements, & guidelines. 



-Guild website Helpful information for borrowers impacted by natural disasters, -All borrowers who live in a FEMA Presidentially Declared Disaster Area are identified in our system. -For all borrowers in FEMA Presidentially Declared Disaster Areas, no late charges or adverse credit reporting will occur for 90 days. 

XXXX XXXX XXXX XXXXXXXX XXXX XXXX Single Family P204-205. 2. Verify the borrower has an acceptable payment record. 
Verification of Acceptable Payment Record for Borrowers Impacted by a Disaster When verifying an acceptable payment history for a borrower that was impacted by a disaster event in which the servicer provided either a forbearance plan, repayment plan, or a Trial Period Plan, or disaster payment deferral and the borrower complied with the terms of such plan, the servicer must not consider any payment that is 30 or more days past due in the last 12 months, or 60 or more days past due in the last 24 months that is attributable to the disaster event. This applies when reviewing the borrower 's request for termination of conventional MI based on either original or current value of the property. 


ACTIVITY LOG SUMMARY XX/XX/XXXX Qualified automatic termination of PMI, LTV {$120000.00} / 75 % = {$160000.00} ( XXXX {$300000.00} ). 
Multiple additional written requestsGuild. 
Contacted XXXX XXXX 

XX/XX/XXXX Multiple additional written requests made. 
Guild denied via email. 

XX/XX/XXXX Qualified automatic termination of PMI, LTV $ XXXX 75 % = {$160000.00} ( zestimate {$310000.00} ) Multiple additional written requests made. 
Guild mortgage replied via email through XXXX denied good payment history. 
30 day notice emailed to guild. 

XX/XX/XXXX Contacted Guild ( XXXX ), savings depleted impacted by natural disaster, made payment {$2300.00} confirmation # XXXX, all current in payments. 

XX/XX/XXXX Contacted Guild ( XXXX ), savings depleted impacted by natural disaster, will catch up in 1-2 months, made payment {$1200.00} confirmation # XXXX. 

XX/XX/XXXX XXXX Guild ( XXXX ) spoke with a guy possibly named XXXX, hard to understand, savings depleted impacted by natural disaster, will catch up in 1-2 months, made payment {$1200.00} confirmation # XXXX. 

XX/XX/XXXX Contacted Guild ( XXXX ), savings depleted impacted by natural disaster, made payment. 

XX/XX/XXXX Qualified borrower request for termination/ cancellation of PMI XXXX included XXXX credit report XX/XX/XXXX Qualified borrower request for termination/ cancellation of PMI, LTV $ XXXX 75 % = {$160000.00} ( XXXX {$300000.00} ). 
Guild mortgage replied via email through XXXX denied good payment history. 

XX/XX/XXXX Qualified XXXX XXXX XXXX XXXX approval for termination/ cancellation of PMI XXXX LTV ( Email via XXXX Tue, XX/XX/XXXX, XXXXXXXX XXXX  ) $ XXXX 75 % = {$160000.00} ( XXXX {$300000.00} ). Proceed to " The servicer must obtain a property valuation from XXXX XXXX XXXX XXXX XXXX XXXX '' Guild Mortgage did not reply, notify or proceed. 

XX/XX/XXXX -FEMA- POTUS approves major disaster declaration for WA. 
https : //www.fema.gov/disaster/4481 https : //www.fema.gov/disaster/3427 -Federal Register, V85, # 53- POTUS declaration 9994, National Emergency regarding COVID-19. PDF XX/XX/XXXX Qualified borrower request for termination/ cancellation of PMI , LTV XXXX XXXX 80 % = {$160000.00} ( XXXX {$170000.00} ). 
No reply from Guild mortgage.

Company response to consumer: Closed with explanation