Consumer complaint received 2020-01-05
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: LAKEVIEW LOAN SERVICING, LLC (CA)

Greetings, The following is a chain of events experienced dealing with Lakeview Loan Servicing LLC in an attempt to remove PMI from our second home loan. 

XX/XX/2019 - Lakeview contacted by phone to verify the paid down mortgage amount that would be needed to meet the loan to value ( LTV ) ratio that would meet PMI removal requirements. 

XX/XX/2019 - Payment in the amount of {$11000.00} mailed to Lakeview accompanied by a letter explaining the application of the amount to mortgage principle and a request to remove PMI. 

XX/XX/2019 - I followed up by phone to question why the total amount of the pay down had not been applied to principle, rectified that problem, and ensured a request for PMI removal was in place with Lakeview. I also submitted an initial complaint with the CFPB regarding the initial difficulties experienced with Lakeview. 

XX/XX/2019 - I followed up by phone to inquire on the PMI removal process and there was no record of my request. I was told that an appraisal or broker 's price option ( BPO ) would be needed to remove PMI. I paid {$100.00} by a phone check to initiate the BPO on XX/XX/2019. 

XX/XX/2019 - I placed a courtesy call to verify the BPO process was moving and was assured by the Customer Service Rep the request was in place and had been authorized. 

XX/XX/2019 - I followed up after allowing processing time and was disappointed to find that the BPO was not moving along. I requested a Manager and was assured that the BPO request was now in place, that Lakeview would retroactively apply all PMI payments to principle when the BPO returned showing our property value was appropriate, and that I should see the PMI removed by XX/XX/2019. 

XX/XX/2019 - PMI was still showing on the monthly statement. I submitted an electronic customer service request to Lakeview in an attempt to try a different communication approach addressing the PMI removal. 

XX/XX/2019 - Letter received from Lakeview stating the LTV requirements were met and a property assessment ( appraisal/BPO ) would be required to support the LTV ratio. The letter stated the BPO fee would be {$150.00} XXXX or a more costly appraisal would suffice ). Please note, a BPO had already been paid for at a lower rate in XX/XX/2019, yet Lakeview did not complete the PMI removal process as previously agreed, nor in agreement with their published policies, which we adhered to during the initial phases of our PMI removal request. 

XX/XX/2019 - I placed a follow up phone call to Lakeview to explain the BPO had already been paid for and requested in XX/XX/2019, but the Customer Service Rep did not see that information in the records and told me a BPO would be required. I asked to speak to a Manager, and after being on hold for 15 minutes, the phone line went dead. 

XX/XX/2019 - I submitted another written request to Lakeview Customer Service explaining everything as is written here. I requested that they complete the BPO that was paid for in XX/XX/2019 and finalize the PMI removal for this mortgage, along with retroactively returning the PMI payments the Manager I spoke with in XXXX assured me would be returned. 

Lakeview has not upheld their end of the processes they have required to be completed per their policies, have not been cooperative or communicative during those processes, and their suggested business practice is one of delaying/being uncooperative in order to continue extricating money as long as possible. 

This mortgage has been paid on time, paid down ahead of the normal amortization schedule, and reasonable requests according to policies have been requested. Please inquire if this is common practice as it negatively affects Lakeview 's customers. 

Thank you for your time and assistance.