Consumer complaint received 2024-10-09
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Private mortgage insurance (PMI)
Company: RoundPoint Mortgage Servicing LLC (CO)

My husband and I purchased our home in XX/XX/XXXX and were required to carry PMI, which was initially serviced by XXXXXXXX XXXX XXXX cancelled our PMI as of XX/XX/XXXX, and provided a confirmation letter. On XX/XX/XXXX, our mortgage was sold to Roundpoint, who reinstated the PMI without notification and charged us twice for PMI on XX/XX/XXXX. Roundpoint claimed that one charge was for XX/XX/XXXX and the other for XX/XX/XXXX because XXXX had not charged us PMI in XX/XX/XXXX. However, I have documentation showing that XXXX did indeed charge PMI on XX/XX/XXXX, proving tha

t Roundpoints explanation for the double charge is inaccurate. I previously filed a complaint with the CFPB, which Roundpoint r
esponded to on XX/XX/XXXX. In their response, Roundpoint stated that XXXX had issued the PMI cancellation letter in error and justified the double charges as necessary due to non-payment in XX/XX/XXXX. However, they did not provide any supporting documentation to substantiate these claims. Despite their assertion that an internal investigation was conducted, they offered no evidence of reaching out to XXXX or any records from when they acquired the loan in XXXX. 

On XX/XX/XXXX, I spoke with a Roundpoint representative named XXXX. He reiterated that their internal investigation determined the PMI cancellation letter was issued in error. He claimed that they reached out to XXXX but admitted he had no proof of this communication. XXXX mentioned that I would need to submit a written request via email to obtain the documentation they relied upon for their determination. Despite my repeated requests for evidence, Roundpoint has not been forthcoming with any supporting documents. 

Additionally, during my conversation with XXXX, he initially stated that PMI payments were made in arrears for the previous month. However, he later changed his explanation, stating that the XXXX PMI payments taken in XX/XX/XXXX were for XX/XX/XXXX and XX/XX/XXXX. This directly contradicts Roundpoint 's response to my initial CFPB complaint, which claimed the XXXX payments were for XXXX and XX/XX/XXXX. This inconsistency does not align with the standard practice XXXX described, where payments are made for the previous month only. 

Furthermore, I have spoken with two representatives at XXXX, XXXX and XXXX, who confirmed that the PMI cancellation letter was not issued in error and that PMI was cancelled at XXXX before the loan was transferred to Roundpoint in XX/XX/XXXX. 

Additionally, on XX/XX/XXXX, I experienced an issue logging into my Roundpoint account. XXXX informed me that my account had been frozen due to multiple incorrect password attempts as of XX/XX/XXXX. However, I successfully logged into the portal on XX/XX/XXXX, to submit documents, which contradicts this explanation. XXXX was unable to provide a satisfactory response regarding this discrepancy. 

Roundpoint has not provided any documentation supporting their claims, despite multiple requests and the opportunity to do so during the previous CFPB complaint. I am seeking a full refund of PMI charges applied since XX/XX/XXXX and an immediate cancellation of PMI, as it was erroneously reinstated. I request that the CFPB conduct a thorough investigation into Roundpoint 's practices, transparency, and accuracy in this matter.