Consumer complaint received 2025-04-09 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 XXXX  Removal Action Taken : Request for XXXX  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 XXXX  removal. Response : Denied due to the loan not being sufficiently " seasoned '' ( the XXXX  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 XXXX  Removal Action Taken : Follow-up request after continued improvements. Details : I called CMG 's customer service and was instructed to submit a XXXX 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 XXXX  Removal Action Taken : Formal request to remove XXXX  with supporting documentation. Details : I submitted a formal request for XXXX  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 XXXX %. Response : Denied because the LTV ratio did not meet the necessary threshold for XXXX  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 XXXX  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 XXXX at my own expense. Response : No response from CMG. XXXX - Fifth Request for Appraisal or XXXX  Action Taken : I made another written request for an appraisal or XXXX ordered through XXXX XXXX my expense. Details : This was my fifth request for an appraisal or XXXX to support XXXX  removal. Response : XXXX asks that I send a written request for an appraisal for the purpose of removing PMI to be sent to the following address : Attn : XXXX  XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXXXXXX - Sixth Request for Appraisal or BPO Action Taken : I submitted my sixth request for an appraisal or XXXX through CMG at my expense and sent the same attached letter via mail with tracking number. Filled out a compaint with CFPB 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 :. Attached : Request to order Appraisal or XXXX on XX/XX/XXXX. 

XXXX - CMG closed the complaint with CFPB stating that per investor guidelines, I had not not hit the XXXX  year mark but the letter they sent me in the mail says I qualify for removal of XXXX  if I had made substantial improvement to the home. 

CMG Follow-Up Action Taken : Stated I am eligible after XX/XX/XXXX payment. I closed on my loan on XX/XX/XXXX therefore my XXXX year, or XXXX payments would be XX/XX/XXXX. Called CMG with the number listed in this document on XX/XX/XXXX and was told all agents were busy and they could not clarify the date. They said I could leave a message and would receive a call back. 

XX/XX/XXXX Called CMG with the number listed in the document on XX/XX/XXXX they submitted to CFPB and was told by agents that XXXX XXXX XXXX Resolution Specialist who's name is on the letter submitted to CFPB that she was was busy and they could not clarify the date. They said I could leave a message and would receive a call back. No response from CMG. 



XXXX - This is now my third call to XXXX XXXX Called CMG with the number listed in the document on XX/XX/XXXX they submitted to CFPB and was told by agents that XXXX XXXX XXXX Resolution Specialist who's name is on the letter submitted to CFPB that she was was busy and they could not clarify the date. They said I could leave a message and would receive a call back. No response from CMG. 
Resubmitted a requested to order an appraisal at my expense for the XXXX time. 

Dear CFPB, I find CMGs repeated failure to address my legitimate requests for PMI removal, coupled with their disregard for the CFPB complaint process, highly concerning. Given the ongoing issues I have faced, I strongly urge the CFPB to investigate CMGs practices as a financial institution, particularly regarding their handling of XXXX  requests and removals. If my experience is indicative of broader patterns, it raises serious concerns about potential fraudulent activity within their operations.

Company response to consumer: Closed with explanation