Consumer complaint received 2019-12-12
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: Freedom Mortgage Company (NY)

I have documentation that proves all of the following details here. I contacted Freedom to remove the private mortgage insurance (PMI) from my loan. Freedom sent me correspondence with details on how to remove it dated XX/XX/2019. Freedom Mortgage also contacted me to refinance my loan in XX/XX/2019. So I purchased a $XXXX appraisal from Freedom to start the process, which Freedom also said applied to PMI removal and which Freedom received on XX/XX/2019. According to the appraisal, my new home value of $XXXX qualified me to have my private mortgage insurance (PMI) removed. My loan-to-value (LTV) ratio was now less than 80%. I did substantial renovations since my purchase and did not receive funds to renovate in my original loan, etc., meeting all of Freedom's terms to remove the PMI. And the broker said that Freedom would now automatically remove my PMI. That didn't happen. My appraisal processed with Freedom on XX/XX/2019. And when I called to ask why my PMI hadn't been removed on my next statement in late XX/XX/2019, a Freedom agent said that the appraisal was good for 90 days and that she would ensure that the "escrow department" processed it to remove the PMI. That didn't happen. I followed up various times in late XXXX and early XX/XX/2019, with each manager (Ambassador) ensuring that he/she would have Freedom process my PMI removal request based on my XX/XX/2019, appraisal. During that time period, I also received several pieces of mail correspondence from Freedom with letter dates of XX/XX/2019, stating that I had to follow a new process. This new process required that I get a $XXXX broker's price opinion (BPO) instead of an appraisal, that I had to sign a form and send Freedom a physical check for $XXXX, and that the BPO needed to process within 30 days of the date on the letter, which was XX/XX/2019. Freedom also had new conditions, which I still met. My LTV ratio was less than 78%, I did substantial renovations since my initial purchase, my loan did not include funds for renovation, I have never had a late payment, and my loan was more than two years old. BUT I received the XX/XX/2019, letter with the new conditions on XX/XX/2019, about 1.5 weeks AFTER the date on the letter, which would have left me only 2.5 weeks to do the BPO and have Freedom process it. I called again in early XX/XX/2019. Freedom again ensured that it would process my appraisal. That again didn't happen. Freedom then sent ANOTHER letter with a XX/XX/2019, date, which I didn't receive until XX/XX/2019, stating that I had to go through ANOTHER new process. This time, my LTV ratio had to be less than 65% based on a BPO, along with the other aforementioned conditions (e.g., loan being more than two years old, no late payments). According to this new process, I now did NOT meet the conditions to remove my PMI based on my appraisal.Basically, within several months, Freedom changed its PMI removal process three times to prevent me from removing my PMI. And they didn't follow up with me by phone, despite saying that they would each time I called. I have since filed a complaint with the XXXX XXXX XXXX.