Consumer complaint received 12/27/2016 about Mortgage (Conventional fixed mortgage) with BB&T CORPORATION (NC).
Issue: Loan servicing, payments, escrow account

Complaint: I have been trying to get BB & T to remove my PMI on my mortgage three times over the last 3 years and every time they give me different reasons why they are unable to remove it. 
I submitted a request the first time in XXXX of XXXX I submitted it with an appraisal showing that the value of the home had gone up. They declined saying that the appraisal that I submitted was not acceptable and that I had to pay for a new appraisal ( through BB & T to have PMI removed ) I got so upset that I dropped everything and accepted a NO and moved on. 
In XXXX of XXXX I decided to try to have my PMI removed again. This time I made a principle payment to reduce my Mortgage balance below the 79 % LTV from the original apprised value. They told me this time that because my loan was less then 5 years old that I had to bring my Loan to value down to 75 % to have my PMI removed. I did not have any more money to pay down the principle balance to the 75 % so I asked them to refund me the large principle payment that I had made and I dropped it once again. 
In XXXX of this year I decided that once again I am fed up with paying an extra $ XXXX month for nothing and made a principle balance and brought by LTV down to 78 % Loan to value. 
This time I received a letter saying that I was declined due to having a late payment in the last 12 month. I was in chock ... .I have never in my life had any late payment on anything. 
I called the mortgage servicing center with BB & T and they explained that in XXXX I made a payment that was {$100.00} short. I always make additional payment to principle so I am not sure how this could have happened but I did go back and verify the amount that came out of my checking account and it is correct?!?! My payment was {$100.00} short. I guess my big problem here is that I never received a call, I never received anything in the mail and I had no clue what was going on until I requested to have my PMI removed in XXXX. 
The way I guess they said that the late payment fixed itself was that I made an additional payment to principle in XXXX and they applied that to the {$100.00} that I was short for XXXX. 
I feel strongly that this should not be the reason for BB & T to once again deny my claim to remove my PMI. I am willing to hire an attorney at this point since I now feel that this have become and issue where BB & T feels that they are so big and untouchable and they can come up with excuse after excuse to do what ever they want and make their own rules. Instead of looking at my individual situation and see that as long as I have had my mortgage with BB & T I have always made additional payment and that the situating in XXXX must have been a honest mistake that was a one off and remove my PMI they are now using that as the excuse. 
I am really upset about this and want to make sure that other people dot go through this when trying to have the PMI removed. When I refinanced my loan the loan officer told me several times that the PMI would come of once I reach 80 % LTV but never explained that it would be this difficult to have it removed. 
Thanks

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation