Consumer complaint received 2022-06-01
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: REGIONS FINANCIAL CORPORATION (MN)

On XXXX I requested to have PMI removed from my mortgage. I was told that I would need to provide documentation showing my home improvements and pay for a BPO. I made the payment for my BPO during the call and uploaded my home improvements, including comparables to the Region XXXX website. The documents were listed as recieved 2 days later. I was told the process would take up to 20 days The BPO Appraiser ( XXXX XXXX XXXX XXXX XXXX ) called me the next week and came out the same day to appraise my home. She was curt once she seen who the homeowner was. She rushed through my property and did not bother to add the finished basement which has a family room, a bedroom and an additional full bath to the value of the appraisal, although she took pictures of it all. She marked my square footage at XXXX which does not include renovations. Comparable MLS XXXX - located across the street from my property, is the same model same square feet with same squarefeet with finish basement, built the same year, home bought in XXXX for {$530000.00} sold for {$560000.00} XX/XX/XXXX. She gave my home a value of {$540000.00}. I believe this is redlining and she did so, once she saw the homeowner was XXXX. I can provide additional information on other comps selected. 

XX/XX/XXXX - receive the appraisal and declination letter. I immediately contact the lender who states, why didn't you submit your receipts, I told them I submitted everything on XX/XX/XXXX the day I paid for the BPO. I was told to resubmit it. So I did on XX/XX/XXXX ( I have screenshots of documents submitted and noted as received ). I also expressed my concerns of redlining with the lender at that time with no response of follow up to my accusations. 

XX/XX/XXXX - I uploaded all of my remodel receipts, XXXX comparables and letter of intent to dispute in PDF form XXXX I received a vm and a follow up email from XXXX XXXX stating that I needed to submit these documents via email to him. He told me the process would take up to 20 days XXXX - XXXX XXXX emailed me stating that the documents were submitted for review XX/XX/XXXX - I sent an email to XXXX XXXX asking about the status ( we are now 40 days into the total process and 2 and half weeks from the date of the dispute ). XXXX XXXX then told me that the documents needed to be in PDF form. ( PDF 's were submitted to Regions on XXXX and XX/XX/XXXX ). So I emailed him the PDF versions of the documents I emailed him on XXXX, same day XX/XX/XXXX - I reached out to XXXX XXXX to see if the items were received and he sent a unledgible message back stating ( this is quoted ) " I sent over what I could. The others would not allow me send them. I waiting to hear from them to see if everything I sent will be ok '' I responded letting him know that his message was unclear to which he responded back with " I sent the info with your dispute. including comps '' XXXX XXXX XXXX emailed me and said " letting you know I had to email the info to them and they got it and has been forwarded to next department '' - please not that this message came after he told me he had sent everything in XXXX 52 days in total ( 4 weeks since dispute *30 days ) I emailed XXXX XXXX asking for the status. 
XX/XX/XXXX - XXXX XXXX responds to the email stating that it was still in process and I would receive a letter later that week. 
XXXX - XXXX weeks into the process I receive a letter dated XX/XX/XXXX ( I have the letter and scanned it into Regions document center ) that the PMI had been removed from my mortgage. 

XXXX - at XXXX pm I called Regions mortgage to ask if the PMI had been removed from my XXXX payment. I was told that PMI was paid in arrears and that I would have to make the PMI payment for XXXX. I told them about the letter dated XX/XX/XXXX and the told me tha the PMI was removed on XX/XX/XXXX. I let the team member know I would be filing a complaint about my experience XX/XX/XXXX - I made my mortgage payment including the PMI, I received a call from XXXX XXXX from Regions Bank asking about my complaint and I let him know what happened and when he began to challenge that, I let him know that I would be filing my complaint with the appropriate channel. XXXX did not mention that the PMI had been approved to be removed effective XX/XX/XXXX, on XX/XX/XXXX, or that it would not be paid to PMI compay. 

XX/XX/XXXX - I received a letter from XXXX XXXX, Regions Bank. The letter states that on XX/XX/XXXX the PMI was provided approval for release to be effected XX/XX/XXXX. I was not made aware of this when I called in on XX/XX/XXXX. PMI for XXXX, collected in my XXXX payment, still is not reflected on my transaction history with Regions. 

I believe this transaction was mishandled from day one. I was given the run around as to continue to make unnecessary PMI payments and the last payment collected was never even applied. I have been discrimminated against and redlined and want to go on record as stating so.