Consumer complaint received 2017-05-01
Company: LoanCare, LLC
State: DC
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
My mortgage servicing company "  XXXX  XXXX  XXXX  " has rejected my formal request to remove my $ 280 monthly PMI and I belive they rejected it without following their own guidelines and also contrary to what several of their customer service reps told me over the phone.   I emailed them on   XXXX   XXXX   with a formal request and also attached a bank appraisal showing that i am well within the equity limits to remove PMI. I was told over the phone someone will call me to schedule their own bank appraisal which I would have to pay for, and that following the appraisal they will determine if they will remove the PMI. Instead, and after several phone calls, I was told the request was rejected, even though they had NOT done the appraisal yet and even though they had my bank appraisal showing the house was worth over {$200000.00} above the loan amount. I have made any number of calls and even my lender has tried to follow up as a courtesy on my behalf but there is NO telephone number to call the mortgage insurance dept and they have not been in touch with me to discuss any details.   My lender told me the servicing companies often reject PMI removal requests intentionally and that they wait to see which customer is tenacious enough to follow up becasue so many customers just give up after the first rejection.   I believe my account has been handled very badly and I am especially frustrated over how hard it is to reach anyone in a decision making position at loancare.   My email to them is below, and I 've since only been sent a letter advising me of the rejection. This, despite repeated phone calls that I want to speak with a  XXXX  who can trouble shoot what was either a misunderstanding, or a glitch, or an oversight, or possibly deliberate action in order to avoid removing my PMI.    Thank you, MR ============== Dear  xxxxxxx, Thank you for contacting us!     We have received your inquiry and are assigning it to the proper department representative. Please note duplicate inquirie s may pr olong your time for resolution. To help identify your inquiry we have generated a reference/ticket number. Your reference/ticket number is  XXXX . Please use this number in any further communication relating to your recently submitted email request. Please allow  XXXX  business days for a thor  ough review and research of your inquiry.
====== Your Inquiry ====== Greetings, This is my formal request to have my PMI removed fro  m loan number xxxxxxxxxx please.     Property address :  XXXX   XXXX   XXXX , Washington,  XXXX ,  XXXX   XXXX  Please see attached a bank appraisal showing my home is currently worth {$600000.00}.   The loan 's current principle balance is approx {$380000.00}.     I 'd like to have your appraisal done as soon as possible please. Can you advise on timing and cost of appraisal, or any other costs/procedures I need to be aware of?     Many thanks!

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