Consumer complaint received 2025-03-15 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Private mortgage insurance (PMI)
Company: CMG Financial Services, Inc.
State: UT

Complaint narrative:
At the time of this complaint, no mortgage payments has been late. I am in good standing with my loan servicer and have made every payment on time and in full. 


XXXX - First Request for PMI Removal Action Taken : Request for PMI removal after home improvements. 
Details : I closed on my home on XX/XX/XXXX. After making improvements, totaling {$82000.00}, I submitted my first written request for PMI removal. 
Response : Denied due to the loan not being sufficiently " seasoned '' ( the PMI department indicated the loan was too new, and I had not met the required time period ). 
Attached : Receipts for home improvements, list of updates with cost details. 

XXXX - Second Request for PMI Removal Action Taken : Follow-up request after continued improvements. 
Details : I called CMG 's customer service and was instructed to submit a PMI removal request via the portal. I did so on XX/XX/XXXX, and the agent confirmed that my request was successfully submitted. 
Response : No action from CMG or confirmation of PMI removal. 
Attached : Receipts for home improvements. 

XXXX - Third Request for PMI Removal Action Taken : Formal request to remove PMI with supporting documentation. 
Details : I submitted a formal request for PMI removal, including the Loan-to-Value ( LTV ) ratio calculation XXXX The loan balance was {$690000.00}, and the appraised value was {$910000.00}, resulting in an LTV ratio of 76.5 %. 
Response : Denied because the LTV ratio did not meet the necessary threshold for PMI removal. 
Attached : Receipts for improvements, LTV calculations, supporting documents. 

XXXX - Request for Clarification and Next Steps Action Taken : Follow-up inquiry seeking clarification and timeline for PMI removal. 
Details : I asked CMG to confirm whether they would accept a Broker Price Opinion ( BPO ) or appraisal at my expense to justify PMI removal.

Response : The representative acknowledged my inquiry but did not provide a clear resolution. 
XXXX - Denial and Follow-Up Action Taken : Follow-up after receiving a denial notice on XX/XX/XXXX. 
Details : The denial stated that my improvements did not qualify for a pre-two-year appraisal. I immediately asked if I could order an appraisal or BPO at my own expense. 
Response : No response from CMG. 
XXXX - Fifth Request for Appraisal or BPO Action Taken : I made another written request for an appraisal or BPO ordered through CMG at my expense.

Details : This was my fifth request for an appraisal or BPO to support PMI removal.

Response : CMG asks that I send a written request for an appraisal for the purpose of removing PMI to be sent to the following address : Attn : PMI DEPT XXXX XXXX XXXXXXXX XXXX XXXX XXXXXXXX XXXX - Sixth Request for Appraisal or BPO Action Taken : I submitted my sixth request for an appraisal or BPO through CMG at my expense and sent the same attached letter via mail with tracking numern.

Details : I expressed my concern that my requests had been ignored multiple times. I also asked for urgent action to prevent an increase in my mortgage payment.

Response : No response at the time of submission.

Attached : Request to order Appraisal or BPO on XX/XX/XXXX.

Company response to consumer: Closed with explanation