Consumer complaint received 2023-05-01
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: LAKEVIEW LOAN SERVICING, LLC (CO)

I have been trying to get the PMI dropped off of my mortgage loan since XXXX of XXXX. I had been receiving emails and letters from the refinancing department of Lakeview XXXX. These communications all said that their analysis of my current mortgage shows that I may be eligible to do a Cashout refinance. With this information, I contacted the PMI department in XXXX of XXXXabout having the PMI dropped since their analysis showed the value of my house had increased enough to not require the PMI to continue. This request was denied in XXXX of XXXX. I contacted them and asked why and what was needed to show the increase in value. The person I spoke with on XX/XX/XXXX said I could submit another request and have some supporting documentation to support the increased value of my house. On XX/XX/XXXX I submitted a new request with comps and a Comparative Market Analysis of my property. ( see attachments : # 1, # 2, # 3 and # 4 ) My request was denied again, but I did not receive any documentation as to why. I contacted Lakeview XXXX on XX/XX/XXXX to ask why. I was then told that I need to have a Broker 's Price Opinion or an Appraisal both which need to be ordered and paid for through Lakeview and their appraiser or broker would conduct the appropriate work order and submit to them. However, I continued to receive correspondence that their analysis of my mortgage showed I could potentially cashout up to {$72000.00}. ( see attachments : # 5, # 6 ) In XXXX of XXXX, I had applied to a HELOC through XXXX XXXX XXXX. They ordered an appraisal of my property. I paid {$890.00} for the residential appraisal for my property. On XX/XX/XXXX, I contacted Lakeview XXXX again and asked about submitting another request to have my PMI dropped and I had a current appraisal to submit to show the increased value of my house. On XXXX XXXX, XXXX, I submitted my 3rd request to have my PMI dropped and the attached appraisal would show a value of {$510000.00}. ( see attachments : # 7, # 8 ) On XX/XX/XXXX, I was again denied, stating that my loan to current value ratio of 75 % or less needed to from the BPO or appraisal. ( see attachment : # XXXX ) On XX/XX/XXXX, I contacted Lakeview XXXX again and asked for a supervisor. I explained my frustrations to the supervisor, who forwarded my complaint to the " Escalated Request Division ''. On XX/XX/XXXX, I was contacted by the case worker assigned to my complaint ( XXXX? ) who told me she was researching my complaint and would keep me informed as to the progress. XXXX contacted me on XX/XX/XXXX asking for details of what I had submitted in my last request. I told her about the appraisal ordered through XXXX XXXX XXXX that I had submitted as well as the other 2 times I had submitted my request. On XX/XX/XXXX, I received an email from the Escalated Request Division stating that my case had been resolve and to log into my account to see the outcome. ( see attachments : # 10, # 11 ) When I logged into my Lakeview XXXX mortgage account, there was no change and PMI is still on my loan. But according to the refinance department of Lakeview, their recent analysis of my property shows I could be eligible for a cashout refinance of up to {$69000.00}. ( see attachment # 12 ) No where did it indicate that it would be this difficult to get Private Mortgage Insurance removed when I initially got the loan. I have not missed payments and they are on time or early. Please help my to resolve this issue and get my PMI dropped.