Consumer complaint received 2024-07-12
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Private mortgage insurance (PMI)
Company: Mr. Cooper Group Inc. (NY)

I purchased my home just over two years ago. Shortly after purchasing the home the mortgage was sold and the new servicer became Mr. Cooper ( Nation Star Mr. Cooper ). The payments were made as normal and as we were approaching the two year mark I wanted to have the home re-appraised so that we can have the PMI removed. I called Mr. Cooper and they were happy to assist. On XX/XX/year> I was charged {$450.00} and was told that I should be contact by an appraisal company in the coming week. Two weeks went by and no appraisal company called so I called back Mr. Cooper. In my conversation with this member of Mr. Cooper I found out that the first rep inaccurately charged me as I was supposed to pay {$750.00} instead of {$450.00}. Although they did not notify me of this issue I was happy to pay there difference and move on. Another two weeks go by and I was still not notified by the appraisal company. So I called again and this time my concern was escalated to a manager who put a rush on the order. I was finally contacted by the appraisal company they came and did the appraisal and I though we would be hearing back with good news in the coming weeks. Good news never came and continues not to come. 
For context, when I purchased the home the seller represented it to me as a 1-family home. After a trip to the local municipality I was surprised to find out that the home was actually a 2- family home. With this information, documents proof of its certificate of occupancy, and with the repairs that I made I thought for sure we would have eclipsed the 20 % Loan To Value threshold needed to have the PMI removed. The appraiser said my home is increased in value substantially and that we should have no problem with removing the PMI. 
So, after another few weeks of waiting I called Mr. Cooper to be told that the initial order done by Mr. Cooper was for a single family appraisal, meaning the appraiser was to asses the value as a 1-family. I told Mr. Cooper from the initial order when I paid the {$750.00} that the reason it is now worth more is it went from a single family to a two family. The company put the order incorrectly leading me to be in this endless loop of waiting. I spoken to a XXXX XXXX XXXX ( manager at Mr. Cooper ) many times and she continues to just tell me to wait another week, wait another week, wait another week. I have emails starting from XX/XX/XXXX of 2024 of me sending XXXX XXXX the requested proof of the home being a 2 family to which she replied.

Thank you for your email. 
I have reached out back to investor and asked them to review additional documents received. 

Thank you for your patience and I will keep you updated. 

This message was sent to me on XX/XX/year>. 

Emails like this, meaning me reaching out to XXXX for an update and her responding for me to wait patiently another week have been going on since XX/XX/XXXX ( emails attached ). Each month that passes I'm continuing to pay almost {$350.00} in PMI which should have been removed by now but because of incompetence at Mr. Cooper I continue to pay. Since this began, I have paid XXXX {$340.00}, XXXX {$340.00}, XXXX {$340.00}, XXXX {$340.00}, XXXX {$340.00} + {$750.00} for the appraisal. I have paid a total of {$2400.00} trying to get this remedied and I continue to be told to wait. I was told just today that XXXX XXXX XXXX would call me back which has not happened as of yet and that Mr. Cooper will know more come XX/XX/XXXX. I have friends who have had PMI removed from their mortgage in a total of 45 days start to finish. Due to incompetence and errors in how they sent the appraisal order I'm stuck footing the bill for the PMI as well as an appraisal that I never received. I'm reaching out to the CFPB because I fear that without government interference this will not get resolved. Thank you.