Consumer complaint received 2026-04-26 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Private mortgage insurance (PMI)
Company: ASSURANCE FINANCIAL GROUP, LLC
State: VA

Complaint narrative:
Complaint Against : Assurance Financial Group LLC Mortgage Servicing 1 XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX Loan # : XXXX I am filing a complaint due to an inaccurate appraisal of my home as part of the " Current Value '' XXXX ratio XXXX as part of the process to have my Private Mortgage Insurance removed. I have had a primary mortgage with Assurance Financial Group LLC for five years and have a clean payment history. Here are the details : XX/XX/XXXX- the original appraisal was performed by Assurance Financial to qualify for the mortgage. Our home at XXXXXXXX XXXX XXXX XXXX XXXX XXXX was appraised at {$380000.00}. XX/XX/XXXX - A formal request was made to remove my PMI. As part of the process, an appraisal of my home was made by Assurance Financial for the amount of {$440000.00}. The XXXX XXXX XXXX was not high enough to have the PMI removed. XX/XX/XXXX - a new assessment was made by the City of XXXXXXXX XXXX for my property for tax purposes. The assessed value is currently {$450000.00} for XXXX. XX/XX/XXXX - A second, formal request was made by me to remove my PMI. A second appraisal was conducted by Assurance Financial, and the current appraised value of my home is {$360000.00}, and the request to rtemove our PMI was again denied. My complaint is against the process used by Assurance Financial to determine the value of our home. The " appraisers '' are NOT CERTIFIED, they are simply real estate agents who are paid so little for their work that they must do a high volume of home visits to make a living. In both appraisals conducted in the past year, the " appraiser '' spent about 10 minutes in my house and asked no questions. The appraised amount of {$360000.00} can not be correct. The appraisal amount of {$36000.00} calculated in XX/XX/XXXX is LESS THAN the original appraisal conducted by XXXX XXXX in XXXX, XXXX. This is in a neighborhood where the average increase of property values during this time has been 65 % according to the XXXX XXXX XXXX XXXX. The XXXX appraisal amount of XXXX XXXX XXXX XXXX is also LESS THAN the XXXX appraisal ( ~25 % ) as well as the city 's assessed value. It is commonly known that the market price of real estate in the XXXX of XXXX, XXXX is higher than the city 's assessed value. According to Assurance Financial, the square footage assessed value of our 2 BR, 2 bath home is {$290.00} sf, which is well below the amount of comparable homes that have sold in the last 6 months within just a few blocks of our home. This information was also provided to the appraiser from Assurance Financial when she visited : SOLD : XX/XX/XXXX XXXX XXXX XXXX XXXX, XXXX blocks from XXXX XXXX XXXX XXXX {$750000.00}, ( XXXX sf. @ {$320.00} sf ), XXXX XXXX semi-attached ; XXXX # XXXX. SOLD : XX/XX/XXXX XXXX XXXX XXXX XXXX ; block from XXXX XXXX XXXX XXXX {$770000.00}, ( XXXX sf. @ {$370.00} sf ), XXXX XXXX semi-attached ; XXXX # XXXX. SOLD : XX/XX/XXXX XXXX N. XXXX XXXX, XXXX blocks from XXXX XXXX XXXX XXXX, {$540000.00} ( XXXX sf. @ {$280.00} sf. ) XXXX XXXX semi-attached ; XXXX # XXXX. The XXXX XXXX XXXX also did not apply a small house premium, nor a premium for a free-standing home ( all XXXX XXXX comps provided are attached row houses ). The appraisal performed in XX/XX/XXXX by Assurance Financial has every indication of incompetence, and is the sole basis for denying the request to remove the PMI. I respectfully ask for a careful review of the work of this appraiser.

Company response to consumer: Closed with explanation